Basic Group Life Insurance

The Lakehead University Basic Group Life insurance that is paid for 100% by the University, (with the exception of part time COPE employees that have a 50/50 plan).

Depending on your employment type you are eligible for coverage that is based on a multiple factor of your current salary.

The age of termination for Basic Life Insurance is 71.

Life Insurance For You

If, while insured, you die, SunLife will pay the amount of your life insurance to the last legally nominated beneficiary as filed.  In the absence of a beneficiary nomination, payment will be made to your estate.

You may name the beneficiary of your choice or your estate.  All nominations made by you are revocable unless you otherwise stipulate.

If you become totally disabled while insured, and you are under age 65, your life insurance will remain in force during you continued disability without payment of premium.  You must submit the required notice and proof of your disability.  Any amount of insurance continued is subject to the terms of the Group Policy.

Conversion Privilege

If your insurance ceases, the conversion privilege contained in the policy entitles you to purchase an individual life policy from SunLife without undergoing any medical examination.

Class A: Senior Administration

3 times the employee's annual basic earnings, the result adjusted to the next higher $1,000 (if not already a multiple of $1,000) subject to a maximum benefit of $500,000.

Class B: Faculty and Librarians (LUFA)

3 times the employee's annual basic earnings, the result adjusted to the next higher $1,000 (if not already a multiple of $1,000) subject to a maximum benefit of $400,000.

Class C&D: Union (FT), Techs, and Schedule II

2 times the employee's annual basic earnings, the result adjusted to the next higher $1,000 (if not already a multiple of $1,000) subject to a maximum benefit of $450,000.

The Basic Amount of Insurance for Classes C and D reduces to $10,000 at age 65.

Class D1: Eligible Contract Employees 

1.5 times the employee's annual basic earnings, the result adjusted to the next higher $1,000 (if not already a multiple of $1,000) subject to a maximum benefit of $100,000.