Life and AD&D insurance
Life and AD&D insurance
We offer Basic Life and Accidental Death & Dismemberment (AD&D) Insurance to protect you and your family, at no cost to you. You can also purchase Optional Life Insurance if you want additional coverage.
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How it works
If you’re a permanent part-time or full-time employee who works 21 or more hours per week, you’re eligible for Basic Life and AD&D Insurance. Life Insurance benefits are paid to your covered beneficiaries in the event of death, and AD&D pays benefits in the event of accidental death or dismemberment.
If you’re suffering from a terminal illness, you can request an accelerated death benefit from your Life Insurance plan to help with estate planning and funeral expenses.
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Coverage
Basic Life Coverage Provided by Iron Mountain
Amounts shown are in Canadian dollars.
You Spouse or Partner Child Benefit Amount 2 times your annual earnings (including any commissions) $10,000 $5,000 (per child) Maximum Up to 2 times $1,000,000 with Evidence of Insurability (EOI)* $10,000 $5,000 (per child) *You will be asked to provide proof of your health before coverage is approved. This is called Evidence of Insurability, or EOI. The maximum coverage amount without EOI is $850,000.
Age Reductions
If you’re age 65 or older, Basic Life Insurance benefits will be reduced:
If you’re 65 – 69 years old, the Plan will pay 50% of the benefits.
If you’re 70 years old or older, the Plan will pay a maximum of $50,000.
Basic AD&D Coverage Provided by Iron Mountain
Amounts shown are in Canadian dollars.
You Benefit Amount 2 times your annual earnings** Maximum $1,000,000 **The benefit varies based on the type of loss experienced.
Optional Life Coverage You Pay For
Amounts shown are in Canadian dollars.
You Spouse or Partner Child Benefit Amount Units of $10,000** Units of $10,000 Units of $5,000(per child) Maximum Up to a maximum of $1,000,000 (Basic and Optional Life combined) Up to a maximum of $500,000 Up to a maximum of $20,000 **You or your spouse/partner will be asked to provide EOI before your Optional Life Insurance coverage is approved.
Age Reductions
When you reach age 65, you’re no longer eligible for Optional Life Insurance.
Costs for Optional Life Coverage
You pay 100% of the costs for all Optional Life Insurance. Amounts shown are in Canadian dollars.
Employee and Spouse/Partner (per $10,000 of coverage cost per month) Age Male (Smoker) Male (Non-Smoker) Female (Smoker) Female (Non-Smoker) Under 25 $1.08 $0.70 $0.60 $0.36 25-29 $1.08 $0.70 $0.60 $0.36 30-34 $1.20 $0.71 $0.89 $0.36 35-39 $1.56 $0.91 $1.08 $0.60 40-44 $2.64 $1.42 $1.80 $0.96 45-49 $4.44 $2.39 $3.00 $1.56 50-54 $7.44 $4.07 $4.80 $2.66 55-59 $11.76 $6.78 $7.56 $4.20 60-64 $17.76 $10.46 $11.16 $6.55 Dependent Children $0.25 per $1,000 unit of coverage Resources
Learn more about your Basic Life coverage with these resources:
Leaving Iron Mountain?
If you’re leaving Iron Mountain (e.g., switching jobs or retiring), your coverage will end on your last day of employment. If you’re under 65 years of age, you can convert your Life Insurance policy to an individual product. For assistance, contact Desjardins Insurance at 800.263.1810 within 31 days following your last day of employment.
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Designate a beneficiary
It’s important to designate one or more beneficiaries for your Life and AD&D benefits. Here’s how:
Go to Global HR Service Support and select “My Benefits Canada.” Then, click the down arrow next to the person icon and select “Beneficiaries” at the top right-hand corner of the screen.
List the family members you wish to designate as beneficiaries and allocate a percentage of your Life Insurance to each family member. Once complete, select “Save Changes.”
Report a Claim
Call Global HR Service Support at 855.462.7547 to report a claim. The Life Insurance policy number is 541545.
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Contacts
Desjardins Insurance
Disability and Life Insurance
Life Insurance policy number: 541545