Enhanced benefits were implemented for members of the PAFSO Life Insurance Plan in 2008.
The Executive Committee of PAFSO approved the benefits to be provided using surplus funds that had accumulated in the PAFSO Life Insurance Plan. The surplus was a result of lower than expected claims over a period of time.
The benefit enhancements apply to anyone under age 65 who maintains a minimum of $50,000 in Basic Life Insurance as a member of PAFSO’s Life Insurance benefit plans. Provided through Great-West Life, the benefit enhancements include:
- Best Doctors® Program, and
- Critical Illness Insurance
The Executive Committee of PAFSO assesses the financial status of the program every three years. If there are sufficient surplus funds in the plan, the Best Doctors® program and Critical Illness Insurance benefit will continue to be offered in three year intervals at no cost to you. If there is not sufficient surplus, these benefits will not be continued as part of the group benefits program. You will then be given the opportunity to continue Critical Illness coverage only on an optional basis at your own cost. Individual rates will be determined based on your age and gender.
If the decision is made to discontinue these enhanced benefits, we will provide you with adequate advance notice to allow you to consider your options for continuing coverage at that time.
For More Information
If you have any questions or would like more information on these new benefits, contact the PAFSO office.
Suite 412, 47 Clarence Street,
Ottawa, ON Canada K1N 9K1
More About the Benefit Enhancements
The Best Doctors® Program
The Best Doctors® program provides plan members and their families with a free medical consultation service. Through Best Doctors®, you and your local doctor or specialist will have immediate access to the latest technologies, the opinions of world-class specialists and clinical guidance, related to your case. These expert resources can assist with confirming the diagnosis of a covered condition and providing recommendations for the most effective treatment plan.
Critical Illness Insurance
The Critical Illness Insurance benefit provides you with a lump sum payment of $15,000 if you are diagnosed with one of over 20 illnesses covered under the plan, such as heart attack, cancer or stroke, among others based on clear medical definitions and provided you have not been diagnosed with this condition before coverage started. The benefit is paid after a waiting period of 30 days following diagnosis (for most conditions) and can be used to cover expenses such as private nursing, medical care, childcare costs and any other unexpected expenses as a result of your illness. Payment is dependent upon meeting clear medical provisions of the contract.