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You are here: Home > Personal > Insurance > Life and health insurance > Life insurance > Permanent > Savings-Life Insurance

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Savings-Life Insurance

An exclusive advantage for members

Essential affordable coverage!

  • Basic life insurance to cover core needs
  • Cancer coverage
  • No middleman—simply sign up at your caisse
  • Coverage amounts rarely offered on the market
  • Available exclusively to caisse members
  • First 3 monthly premiums refunded1

Features

  • Up to $25,000 in life insurance to help ease the financial impact of your death on your loved ones (funeral costs, final expenses) and even leave something behind for them
  • Up to $6,250 in cancer coverage to help you deal with the financial consequences of a cancer diagnosis (e.g., tests at private facilities, travel expenses, childcare, caregiver costs, etc.)
  • First 3 monthly premiums refunded by your caisse 1
  • Find out right away if you’re eligible for coverage
  • Tax-free benefit payments
  • Affordable premiums, since Savings-Life Insurance is a group insurance product
  • Free access to telephone assistance services:
  • You need to have one of the following types of caisse accounts:
    • Qualifying share (membership share)
    • Personal chequing
    • Regular savings
  • Joint accounts: If both account holders are eligible, both need to get coverage for the account to be insured.
  • You need to be under 70 when you apply for the insurance.
  • Answer just a few questions to find out right away if you’re eligible.
  • With Savings-Life Insurance, you can insure multiple accounts:
    • Qualifying share (membership share) accounts: up to $25,000 in life insurance and $6,250 in cancer coverage per account
    • Personal chequing accounts: up to $25,000 in life insurance and $6,250 in cancer coverage per account
    • Regular savings: up to $10,000 in life insurance per account (no cancer benefit)
  • Total payable for all insured accounts combined is capped at $75,000 (life insurance) and $18,750 (cancer benefit).
  • Insurance amounts vary based on account type and on the age of the insured person when they die or when they receive a cancer diagnosis (as of June 1st, 2016).
  • To help keep costs affordable for older insureds, who generally need less coverage, insurance amounts start decreasing at age 70.
  Qualifying share and personal chequing accounts Regular savings account
Attained age Life insurance amount per insured person Cancer benefit per insured person Life insurance amount per insured person
Individual account
0 to 69 $25,000 $6,250 $10,000
70 to 74 $17,500 $4,500 $7,000
75 to 79 $10,000 $2,500 $4,000
80 to 84 $7,500 $2,000 $3,000
85 and up $5,000 $1,250 $2,000
Joint account
0 to 69 $12,500 $3,125 $5,000
70 to 74 $8,750 $2,250 $3,500
75 to 79 $5,000 $1,250 $2,000
80 to 84 $3,750 $1,000 $1,500
85 and up $2,500 $625 $1,000
  • The monthly premium is automatically debited from your account.
  • How much you pay depends on how old you are—whenever you enter a new age range, your premium will change.
  Qualifying share and personal chequing accounts Regular savings account
Attained age Monthly premium - individual account Monthly premium - joint account Monthly premium - individual account Monthly premium - joint account
14 and under $5.25 $4.20 $1.80 $1.44
15 to 39 $7.50 $6.00 $2.90 $2.32
40 to 44 $9.00 $7.20 $3.30 $2.64
45 to 49 $15.00 $12.00 $4.60 $3.68
50 to 54 $21.25 $17.00 $7.90 $6.32
55 to 59 $32.75 $26.20 $11.90 $9.52
60 to 64 $51.25 $41.00 $16.70 $13.36
65 and up $80.00 $64.00 $25.00 $20.00

1. If you take out Savings-Life Insurance when opening a qualifying share (membership share) account.

Guide

To learn more about Savings-Life Insurance, check out the Savings-Life Insurance Guide - This link will open in a new window. (PDF, 1 MB). It contains everything you need to know about the product, including terms, conditions, exclusions and restrictions.

Exclusions and restrictions

Some exclusions and restrictions apply. For a complete list, see the Savings-Life Insurance Guide - This link will open in a new window. (PDF, 1 MB) or visit your caisse to consult the insurance policy.

Legal notice

The information on this site summarizes the terms and conditions of this insurance and has no contractual value. It's intended to be clear and simple, so you can easily understand the product.

Only the policy and insurance application will be used to settle legal disputes. The insurance policy contains all the terms and conditions of this coverage.

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