Pacific Blue Cross | BC Life
March 10, 2010

Group Life Insurance

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.

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
    • 10 to 49 lives - 90%
    • 50 + lives - 75%
  • 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.