Premiums: PSAC Enhanced Coverage
When it comes to total insurance coverage and added features, PSAC Enhanced Coverage offers PSAC members and their families life insurance protection that is second to none.
The following are the monthly premiums for each $25,000 unit of coverage. The maximum coverage available is $250,000 for you and $250,000 for your spouse. Premiums are based on the applicant’s age, gender and smoker status and increase as the individual progresses from one age band to the next.
PSAC Enhanced Coverage monthly premium rates
AGE |
MALE
NON-SMOKER |
MALE
SMOKER |
FEMALE
NON-SMOKER |
FEMALE
SMOKER |
to age 34 |
$2.75 |
$3.50 |
$2.25 |
$2.75 |
35-39 |
3.00 |
3.75 |
2.50 |
3.00 |
40-44 |
4.25 |
6.75 |
3.50 |
4.75 |
45-49 |
6.25 |
8.50 |
5.00 |
7.25 |
50-55 |
10.20 |
15.00 |
8.00 |
11.25 |
56-60 |
17.25 |
25.00 |
12.75 |
18.25 |
61-66 |
28.00 |
31.50 |
20.00 |
28.75 |
67-70 |
42.75 |
68.25 |
23.75 |
36.50 |
Example: The monthly premium for a 38-year-old female non-smoker requiring $100,000 of coverage
(4 x $25,000) would be $10 (4 x $2.50). The same coverage for a 38-year-old male non-smoker would
be $12 (4 x $3.00). When these individuals attain age 40, the woman will pay $14 per month (4 x $3.50)
while the man will pay $17 per month (4 x $4.25)
for the same coverage.
Remember: These rates include accidental death and dismemberment coverage and waiver of premium
on confirmation of total disability.
Plus, each dependant child can be insured for $20,000 for just $1 per month.
*Rates are subject to change.
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