Life insurance plans

The Concordia Life Insurance Plans are designed to provide a financial safety net in the event of your death or that of a covered dependent.

You decide on the size of your safety net:

  • You want minimal coverage for yourself?
    You have the Basic Life Insurance Plan, which is fully paid for by the University.
  • You want extra coverage for yourself?
    Buy additional coverage at competitive group rates under the Optional Life Insurance Plan. This plan pays benefits in addition to the Basic Life Insurance Plan. You pay for the full cost.
  • You want to cover your spouse and/or dependent children?
    Buy coverage—also at competitive group rates—under the Optional Dependent Life Insurance Plan. You pay for the full cost.

The choice is yours!

Highlights

Current coverage
For you Basic Life Insurance Plan   Optional Life Insurance Plan
Coverage 1 x your annual base salary   1, 2, 3 or 4 x your annual base salary
Maximum benefits









$200,000

 

 

 

PLUS

$200,000 for optional coverage
of 1 x your annual base salary

$400,000 for optional coverage
of 2 x your annual base salary

$600,000 for optional coverage
of 3 x your annual base salary

$800,000 for optional coverage
of 4 x your annual base salary
Cost Concordia pays 100% of
the cost
  You pay 100% of the cost
For your eligible dependents Optional Life Insurance Plan - Coverage
Your spouse $10,000 to $100,000 (in units of $10,000)
Each dependent child $2,500 to $25,000 (in units of $2,500)
If you cover both your spouse AND dependent children Note: for each $10,000 of coverage you buy for your spouse, each of your dependent children is automatically covered for $2,500
Cost You pay 100% of the cost

Proof of good health (initially a medical questionnaire) will be required for certain levels of coverage and depending on when you enrol.

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