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British Columbia Life & Casualty Company underwrites Group Term Life Plans. BC Life, through its Small Group Product, will underwrite businesses with as few as five employees.
Plan specifications include:
Benefit Schedule:
- flat amounts
- multiples of the employee's salary
- or a custom designed plan unique to your company's need.
Maximum Benefits:
- $250,000 (5 to 9 employees)
- $250,000 (10 to 49 employees)
- $500,000 (50+ employees)
Participation:
- groups of 5 to 9 lives - 100%
- contributory plans
- noncontributory plans - 100%
Conversion Option:
If an employee no longer has group coverage, he or she may convert from a group plan to an individual plan. Evidence of insurability is not required if:
- the application is made within 31 days from the termination date
- the application is made before the 65th birth day
- there is 5 years of continuous coverage if the termination is due to the cancellation of a Group Policy.
Blue Cross Life Insurance Company of Canada underwrites this conversion option.
For more information please contact your Plan Advisor or BC Life.
The information provided on this Web site is intended to be general information only, and does not form a contract. For specific details of your group's Pacific Blue Cross or BC Life benefit coverage, please refer to your employee handbook, or consult your benefit administrator. Benefit Administrators may refer to their Pacific Blue Cross contract or BC Life policy. They may also contact their broker/consultant or Pacific Blue Cross/BC Life. Groups wishing to apply for Pacific Blue Cross or BC Life coverage should contact their broker/consultant, or Pacific Blue Cross/BC Life.
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