Life Insurance

Life Insurance

The University provides its retirees with life insurance coverage the amount of which is determined as follows:

(a) Members who joined the University before May 1, 1971: 50% of final salary.

(b) Members who joined the University after May 1, 1971 and before July 1, 1976: 2½% for each year of service (up to a maximum 20 years); minimum benefit $2,000, maximum $100,000.

(c) Members who joined the University after July 1, 1976:
- those with less than 10 years of service: $2,000;
- those with 10 or more years of service: 10% of final salary up to a maximum of $5,000; minimum benefit $2,000.

As November 1, 2020, University life insurance policies are held with Canada Life

To review your coverage and review or change your beneficiary designations, go to the Canada Life GroupNet Flex benefits website: Welcome to Canada Life | GroupNet Flex Plan Member Site

Here are the steps :

  1. Enter the site with your former employee number (9 digits) and click on "Forgot/need password" to obtain a password which will allow you to log in.
  2. A password will be sent to your email address. Within an hour, enter this temporary password and replace it with a password of your choice (it must be different from the one used to submit a health care claim to Canada Life).
  3. You can then log in, check your life insurance coverage, add information, and make any changes you want.

If you would like to change your life insurance beneficiary, select the "Beneficiary" option in the left column and follow the steps. You will need to print and mail the form provided.