Savings-Life Insurance

Essential and affordable protection!

Is this insurance for you?

  • You are under the age of 70.
  • You are a member of the Caisse. Ask for it now.
  • Looking for a basic life insurance that covers you in case of cancer diagnosis and which meets your essential needs.
  • You want to know immediately if you are eligible.
Outlines

Amount: Up to 25 000$

Qualifying share:

  • Qualifying share (membership share)
  • Personal chequing account
  • Regular savings

Premium calculation: based on age and submitted to a revision at each new age group.

Eligibility: You need to answer only a few questions to determine your eligibility

Exclusivity: Available exclusively to Caisse members

Features

Coverage details

  • Up to $25,000 in life insurance to help ease the financial impact of your death on your loved ones (funeral costs, final expenses) and even leave something behind for them
  • Up to $6,250 in cancer coverage to help you deal with the financial consequences of a cancer diagnosis (e.g., tests at private facilities, travel expenses, childcare, caregiver costs, etc.)
  • Find out right away if you’re eligible for coverage
  • With Savings-Life Insurance, you can insure multiple accounts:
    • Qualifying share (membership share) accounts: up to $25,000 in life insurance and $6,250 in cancer coverage per account
    • Personal chequing accounts: up to $25,000 in life insurance and $6,250 in cancer coverage per account
    • Regular savings: up to $10,000 in life insurance per account (no cancer benefit)
  • Total payable for all insured accounts combined is capped at $75,000 (life insurance) and $18,750 (cancer benefit).
  • Insurance amounts vary based on account type and on the age of the insured person when they die or when they receive a cancer diagnosis (as of June 1st, 2016).
  • To help keep costs affordable for older insureds, who generally need less coverage, insurance amounts start decreasing at age 70.
  • Joint accounts: If both account holders are eligible, both need to get coverage for the account to be insured.
Qualifying share and personal chequing accounts Regular savings account
Attained age Life insurance amount per insured person Cancer benefit per insured person Life insurance amount per insured person
Individual account
0 to 69 $25,000 $6,250 $10,000
70 to 74 $17,500 $4,500 $7,000
75 to 79 $10,000 $2,500 $4,000
80 to 84 $7,500 $2,000 $3,000
85 and up $5,000 $1,250 $2,000
Joint account
0 to 69 $12,500 $3,125 $5,000
70 to 74 $8,750 $2,250 $3,500
75 to 79 $5,000 $1,250 $2,000
80 to 84 $3,750 $1,000 $1,500
85 and up $2,500 $625 $1,000

Cost

  • Affordable premiums, since Savings-Life Insurance is a group insurance product
  • The monthly premium is automatically debited from your account.
  • How much you pay depends on how old you are—whenever you enter a new age range, your premium will change.
Qualifying share and personal chequing accounts Regular savings account
Attained age Monthly premium – individual account Monthly premium – joint account Monthly premium – individual account Monthly premium – joint account
14 and under $5.25 $4.20 $1.80 $1.44
15 to 39 $7.50 $6.00 $2.90 $2.32
40 to 44 $9.00 $7.20 $3.30 $2.64
45 to 49 $15.00 $12.00 $4.60 $3.68
50 to 54 $21.25 $17.00 $7.90 $6.32
55 to 59 $32.75 $26.20 $11.90 $9.52
60 to 64 $51.25 $41.00 $16.70 $13.36
65 and up $80.00 $64.00 $25.00 $20.00

Premiums

  • Tax-free benefit payments

Telephone assistance

  

More information

Notices

Exclusions and restrictions

Some exclusions and restrictions apply. For a complete list, see the Savings-Life Insurance Guide or visit your caisse to consult the insurance policy.

Legal notice

The information on this site summarizes the terms and conditions of this insurance and has no contractual value. It’s intended to be clear and simple, so you can easily understand the product.

Only the policy and insurance application will be used to settle legal disputes. The insurance policy contains all the terms and conditions of this coverage.

Find out more

Read the Savings-Life Insurance Participant’s Guide (PDF).

 

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