Optional Life and AD&D Insurance

Optional Life Insurance coverage lets you protect yourself or leave behind something more for the ones you love, should a sudden death or accident occur. Depending on your family status and financial obligations, the basic insurance coverage included in your group plan may not be enough to meet your needs. With Optional Life and Accidental Death & Dismemberment (AD&D) insurance, you can purchase extra coverage at a relatively low cost.

Applying for coverage

At enrollment, or if you are already a plan member, complete the Optional Benefits form. If applying for Optional Life insurance, you must also complete the Evidence of Insurability form. If you don’t apply at enrollment, you can still apply at any time as long as you are under the age of 65. You can also increase or decrease optional coverage at any time. Employee contributions for Optional Life and AD&D Insurance are made through payroll deductions.

Optional Life – Level of Coverage and Cost

Optional Life insurance is available in units of $10,000 up to a maximum of $500,000. Your age is used to determine that cost of your coverage. Once you have identified the rate that corresponds to your situation, multiply the figure by the amount of coverage requested and divide the result by 1,000.

Example: The cost of a 33 year-old non-smoker woman wishing to purchase $100,000 of Optional Life insurance would be $2.50 per month ($100,000 x $0.025 / 1,000).

---

Need assistance? Contact one of our Benefits Centre Administrators to assist you with your needs

Sherwin-Williams Canada Benefit Service Centre
30 Kelfield Street
Toronto, ON M9W 5A2
Phone: 1-844-994-9989
Email: sherwin@benefitscentre.ca