Benefit entitlements change upon Retirement, so it is important to review your entitlements in your Retiree benefit booklet.
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Benefit Booklet for Unranked Faculty, retired after July 1998
Benefit Booklet for Retired Unranked Faculty retired between July 1, 1994 and November 30, 1996
The Benefit Booklets provided above are the official documents which outline benefit coverage. There are other tools available, such as the Drug Lookup Tool provided on the Sun Life website (www.mysunlife.ca), that may help you with understanding whether specific items are covered). While the Drug Lookup Tool is a convenient feature, it currently provides information about pay-direct drugs only. Other drugs, such as vaccines which are not available through the pay-direct card and have to be submitted with a paper claim, are not included in the Drug Lookup Tool.
Sun Life regularly looks at the claiming and administrative practices of medical and dental healthcare service providers and pharmacies. Sometimes, the review will lead to delisting. If you receive healthcare services or supplies from a delisted provider, Sun Life will not reimburse you for your expenses. You can still choose to obtain services or supplies from a delisted provider; however, your claim will be denied. You can see a list of providers by province by logging into your My Sun Life account. You are encouraged to check this list before you make an appointment, so you don’t unknowingly use a delisted provider. Additional information can be found here.
To understand your benefit plan coverage, refer to the appropriate booklet above. If you have questions about your benefit plan provisions and would like to enquire about available coverage for specific items, you can also contact Sun Life at 1-800-361-6212. In the event of any discrepancy or inconsistency of information, the Benefit Booklets will govern.
If you retire prior to age 65 (collect immediate pension), you are eligible to keep your lump sum coverage or the basic coverage of 175% of salary by paying the full premium which is based on factors such as age, gender, and smoking vs. non-smoking. However, your coverage will reduce to $5,000 as of the date you elect or age 65, whichever is earlier.
Survivor Income Benefit and Optional Life coverage cease at retirement.
If you retire at age 65 (your Normal Retirement Date), you may be eligible for a Term Insurance Policy of $5,000. If you wish to convert your current insurance to a private insurance plan, you must apply within 31 days of your retirement date. Please contact Human Resources Services at extension 222-HR (x 22247) if you wish to proceed with this option. (Note: You can convert your current insurance up to a maximum of $200,000, without a medical examination, however you would be subject to payment of premiums set by Sun Life for outside of a Group Plan).