Benefit Amount: $10,000 for your spouse and $5,000 for your dependent child(ren).
Dependent life insurance provides coverage in the event of the passing of your spouse or your dependent child(ren). You are the beneficiary of the dependent life insurance.
Termination of Coverage
Dependent life insurance terminates when your coverage terminates, or when your dependents are no longer eligible, whichever occurs first.
Dependent life insurance is a mandatory benefit. If you have eligible dependents you will automatically be enrolled. Please note that the cost of the dependent life insurance is paid for by Lifemark and is considered a taxable benefit by the Canada Revenue Agency. The premiums + applicable taxes for your dependent life insurance will be accounted for on your pay slip and T4 as a taxable benefit.
For more information regarding your dependent life insurance please refer to your FlexLife Benefits Guide and your Medavie Blue Cross benefits booklet.
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