Premiums

Option A1 – Basic Life Insurance

Coverage:

• $100,000. Life
• $100,000. Accidental Death and Dismemberment

Family Coverage – On Life Portion Only:

• $10,000. Spouse
• $5,000. Dependent Children

Same coverage as active teachers

No cost sharing

Retired teachers pay full premiums

Single: $26.00	$ 23.70 for life
	$ 2.30 for AD & D
Family: $27.94	$ 25.64 for life
	$ 2.30 for AD & D

Available until age 65 only then coverage drops to $15,000. Life only at cost of $0.897 per $1,000 or $13.46 for $15,000.

Option A2 – Optional Life Insurance

• Same coverage as active teachers.
• Units of $5,000 to a maximum of $100,000.
• Coverage terminates at age 65.
• Premiums based on age.
• Premium with not change with age whether you retire or not.
• Spouse: 25% of the member coverage.
• Monthly cost per $1,000.

Age Band	Single	Member and Souse
45-49	.175	.216
50-54	.310	.385
55-59	.516	.643
60-64	.760	.948

Option A3 – Voluntary Accidental Death and Dismemberment

• Coverage and premiums are same as active teachers
• Available in units of $10,000 to a maximum of $500,000
• Spouse coverage is 50%, 60% if you have dependent children
• Child coverage is 10%, 20% if you do not have a spouse
• Full coverage available until age 65
• At age 65, maximum coverage drops from 300,000 to 100,000 and is available until age 75
• Monthly cost per units of $10,000: Member $0.23 – Family: $0.38

Option B1 – Health and Hospital Coverage

• Coverage same as active teachers until age 65. At age 65, members must join the provincial senior drug plan. Amy drugs covered by the provincial senior drug plan are no longer covered by our plan.
• No cost sharing.
• Coverage is available for life and can be picked up by surviving spouse.
• If coverage is dropped, it can only be reacquired with proof on insurability.
• Retired teachers pay full premiums.
• SINGLE: $121.92 | FAMILY: $248.77

Option B2 – Dental Coverage

Dental coverage is not available to retired teachers.

Critical Illness Coverage

	Monthly Unit Rates per $10,000 of Coverage
	Male		Female
Age Band	Smoker ($)	Non-Smoker ($)	Smoker ($)	Non-Smoker ($)
55 - 59	25.64	13.13	18.42	11.06
60 - 64	38.40	20.53	26.08	15.04
65 - 69	50.78	29.14	36.40	22.06
70	66.42	38.38	44.22	26.18
71	72.26	41.94	47.48	27.78
72	78.22	45.58	50.78	29.50
73	84.32	49.30	55.36	32.42
74	90.54	53.10	59.94	35.42