Employee Life Insurance Benefit
The Employee Life Insurance benefit is payable upon the death of the employee from any cause.
Hour Bank Benefit Plan participants: refer to your benefit booklet to determine the amount of Employee Life Insurance.
Office Supervisory Benefit Plan participants: refer to your Benefit Confirmation Statement to determine the amount of Employee Life Insurance.
The Employee Life Insurance benefit is payable to the designated beneficiary. A new beneficiary can be designated by completing a new enrolment card and sending it to Mercon Benefit Services. If a beneficiary has not been properly appointed, the Employee Life Insurance benefit is payable to the employee's estate.
Total Disability Waiver of Premium
Employees who are totally disabled may be eligible for a waiver of the Employee Life Insurance premium. Waiver must be applied for within 300 days of the onset of disability. The appropriate form can be obtained by contacting Mercon Benefit Services. Once approved, Employee Life Insurance premiums are waived while the employee remains disabled, up to age 65. The insurer may ask for proof of continuing disability from time to time.
Conversion of Benefit
Once the Employee Life Insurance benefit terminates, it may be converted to an individual policy. An application for individual insurance must be made within 31 days of termination of the group Employee Life Insurance benefit. If the employee's death occurs within 31 days of the date the group Employee Life Insurance terminated, the amount that could have been converted to an individual policy will be paid to the designated beneficiary (or the employee's estate, if a beneficiary has not been designated). For complete details of the conversion option, contact Mercon Benefit Services.