ÐÓ°ÉÂÛ̳

Eligibility: HQ-based appointments (regular, open, term, executive director appointments, alternates and senior advisors, advisor to executive directors). 

• Effective January 1, 2015, staff receive basic life insurance coverage in the event of their death equal to: 

• one times net annual salary for those who participate in the net pension plan (generally those who joined the Staff Retirement Plan on or after April 15, 1998). A separate amount equal to two times net annual salary will be paid through the Staff Retirement Plan (SRP) in the event of death. 

• one times net annual salary for those who participate in the old gross pension plan (generally those who joined the SRP on or before April 14, 1998). 

• Enrollment in basic coverage is automatic and effective from the first day of employment:  

• For active staff at age 67-69, coverage is 65 percent of what is normally calculated. 

• For active staff at age 70 or older, coverage is 50 percent of what is normally calculated. 

• In the event of a claim, insurance proceeds are paid based on beneficiaries as specified by staff. Beneficiaries receiving claims are eligible for no cost, objective financial planning guidance through FinancialPoint? if they meet the eligibility criteria. 

• Eligible staff who are terminally ill may, under certain conditions, receive some of the life insurance proceeds prior to death under the Living Benefit Option. For more information, contact HRDCB. The Living Benefit Option is not available for the Optional Dependent Group Life Insurance program. 

• ÐÓ°ÉÂÛ̳ Group's Life Insurance program is a term i