Effective June 2008, enhanced benefits were implemented for members of the PAFSO Life Insurance Plan.
The benefits – approved by the Executive Committee of PAFSO – will be provided using surplus funds that had accumulated in the PAFSO Life Insurance Plan between January 1, 2012 and December 31, 2014. The surplus was a result of lower than expected claims during that period.
The benefit enhancements apply to anyone under age 65 who participates in PAFSO’s Life Insurance benefit plans, and are provided through Great-West Life:
- Best Doctors® Program, and
- Critical Illness Insurance
These new benefits are in addition to the enhancements that were implemented at the beginning of 2008.
The Best Doctors® program and Critical Illness Insurance benefit will be offered until December 31, 2020 at no cost to the member. In 2020, we will reassess the financial status of the program. If there are sufficient surplus funds in the plan, we will continue these benefits. If there is not sufficient surplus, these benefits will not be continued as part of the group benefits program; however you will be given an opportunity to continue the Critical Illness coverage on an optional basis at your own cost. Individual rates will be determined based on your age and gender.
We will provide you with adequate advance notice once our decision is made 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 new 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 new Critical Illness Insurance benefit provides you with a lump sum payment of $15,000 if you are diagnosed with one of the 22 illnesses covered under the plan, such as heart attack, cancer or stroke, among others. The benefit is paid after a waiting period of 30 days (for most conditions) following diagnosis 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.
This web page summarizes changes to certain provisions related to your PAFSO Group Benefit Program resulting from the surplus funding of your Life Insurance plan. In the event of any discrepancy or misunderstanding, benefits will be paid according to the applicable contract number 33272.