To: Employees who are Enrolled in the Optional Life Insurance Plan
From: UBC Human Resources
The Optional Life Insurance Premium Rates have been revised. Please refer to the chart at the bottom of this email for the new premium rates effective January 1, 2019.
Optional Life Insurance
The UBC Employee and Spouse Optional Life Insurance is an employee-paid plan that provides benefits to your designated beneficiary (ies) should you, your spouse or your dependent child die. Participation in the Optional Life plan is voluntary and coverage is in addition to your Basic Group Life Insurance coverage.
 Premium Rate Change for 2019
Each year, with the support of our Benefits Consultant, the financial experience for the Optional Life plan is reviewed. Due to a decrease in claims, effective January 1, 2019, the premium rates will decrease by approximately 3% for the upcoming year.
For those also enrolled in the Employee and Spouse Optional Accidental Death and Dismemberment (AD&D) Insurance Plan, these premium rates remain unchanged for the upcoming year.
The current monthly Optional Life premiums are shown below. To determine your monthly premium for the upcoming year, find the age bracket, smoker status and coverage amount for you and/or your spouse.
The change in premium will appear on your December 31, 2018 pay cheque (premiums are taken one month in advance).
 Verifying your Optional Life Coverage and Beneficiary
To verify your Optional Life coverage and/or view your named beneficiary (ies), log in to the UBC Faculty and Staff Self-Service website with your CWL username and password and click on “Benefits Summary” (VPN is necessary to access Self-Service off campus).
 Making Changes
The Optional Life maximum is $750,000 (for the employee or spouse). If you would like to increase your current coverage, the first step is to complete the UBC application form and submit the original to UBC Payroll. UBC Payroll will review your application and email you the Sun Life Health Statement. Sun Life will review your application and inform you in writing if you are approved for increased coverage.
On Jan. 1, 2015, Spouse Optional AD&D coverage became available to spouses of all staff members (previously, coverage was only available to spouses of faculty and M&P employees). If your spouse is currently enrolled for Spouse Optional Life only and you would like to add Spouse Optional AD&D, complete the UBC application form and submit it to UBC Payroll for processing. The Spouse Optional AD&D amount will match the Spouse Optional Life amount and no Sun Life Health Statement is required.
For more information on how to increase your coverage or add the Spouse Optional AD&D, please visit: http://www.hr.ubc.ca/wellbeing-benefits/benefits/details/life-insurance/optional-life-insurance/.
Decreasing or Cancelling Coverage
If you would like to decrease or cancel your coverage, please complete the appropriate change form on our website and submit it to UBC Payroll for processing.
Changing Your Beneficiary
It is important to keep the beneficiary of your life insurance policies up-to-date, so that in the event of a claim, the benefit is paid to the correct individual(s) or organization.
If you do not designate a life insurance beneficiary, your life insurance benefit will be paid to your estate in the event of your death (or your spouse’s estate in the event of their death, if they hold Spousal Optional Life Insurance).
To add a beneficiary or change your beneficiary, complete the appropriate form on our website and submit the original completed form to UBC Payroll for processing. Only original forms are accepted, and we strongly recommend you keep a copy for your personal records.
 For Additional Information
For more information about the UBC Optional Employee and Spouse Life plan, please visit the following web page: http://www.hr.ubc.ca/wellbeing-benefits/benefits/details/life-insurance/optional-life-insurance/.
If you have any questions, please email firstname.lastname@example.org.