Optional Life Insurance
The Merit Contractors Association Benefit Plan provides a basic Employee Life Insurance benefit as part of the core plan. In the case of an unexpected death, additional coverage may be required by employees or their families. Optional Life Insurance provides a cost-effective means of topping up the coverage already included in the basic plan.
Optional Life Insurance is available to employees and their spouses in units of $25,000 to a maximum of $250,000 each. To be eligible, the employee must be actively at work and not disabled. The amount of insurance remains level until the coverage terminates, or until such time as an increase or decrease in coverage is initiated. Optional Life Insurance may be maintained until the life insured's age 70, as long as the employee remains eligible for the coverage.
If Optional Life Insurance terminates on or before the insured's 65th birthday, it may be converted to individual insurance without evidence of insurability. Conversion must be applied for within 31 days of termination of the Optional Life Insurance.
To apply for Optional Life Insurance, an Optional Life Enrolment Form and Medical & Lifestyle Questionnaire must be completed.
Please contact Mercon if you wish to apply for Optional Life Insurance. Rates may be viewed by clicking below.
Click here to view the Optional Life Insurance Brochure
Click here to calculate the Optional Life Insurance Rates
Click here to print the Optional Life Insurance Enrolment Form
Employees who have already purchased Optional Life Insurance based on smoker rates may be eligible to change to non-smoker rates. To apply for a change to non-smoker rates, the Application for Non-Smoker Rate for Optional Insurance must be completed.
Click here to print an application to change to non-smoker rates.