Term Life Insurance


The BCTF Term Life Insurance plan protects your family's future with affordable and reliable coverage plus many additional features.

Little shoes.

In life, stuff happens.

Most of it good; some, not so good. That’s where the BCTF Term Life Insurance plan comes in.

Should you die, this plan ensures your loved ones will be cared for financially. You can have peace of mind, knowing that those who are following in your footsteps will be protected. Comforting, isn’t it?

Eligibility

BCTF members and their spouses under 65 years of age, who are residing in Canada.

 

What makes the BCTF plan special?

Your group advantage
The BCTF uses your group buying power to negotiate exceptional value, offering unique features and benefits you won’t find with other insurance providers.

Spouse Coverage
Your spouse is also eligible to apply under the BCTF Group Insurance plan. Daycare, Education, Retraining and Waiver of Premium benefits are also included in their coverage. It’s even better to have Term Life Insurance, together.

And much more!
Your group plan offers special coverage features including: Occupational retraining for spouses, education benefits for children, and premium waiver for disability.

Group coverage means significantly more value.

Some of the benefits we outline below are not included with other life insurance plans or are only available at extra cost.  We've included the following features in your BCTF Group Term Life Insurance at no extra cost to you. These benefits are in addition to your term life benefit:

We will pay for your premiums if you are disabled. 
If you’re less than 65 years of age and become totally disabled due to an accident or sickness, we will waive all Term Life premiums due after 6 months of continuous disability. Your coverage will continue, at no charge to you, throughout the duration of your disability through to age 65. This benefit is also available to your spouse.

60 Day money back guarantee graphic.
We offer a 60 day money back guarantee. If you are not fully satisfied, you can cancel your coverage and return the Certificate within 60 days of the effective date. You'll receive a full refund of any premiums already paid.

Extra help for your family:

Career retraining for your spouse.
In the event of your death, this plan will pay up to $10,000 for your spouse to receive occupational training should they need to change careers in order to support your family. If your spouse is insured under this plan, you would also qualify for this benefit in the event of their death.

Help with daycare costs.
Should you die while your children are in their daycare years, this plan will reimburse for daycare expenses up to 5% of your Term Life Insurance coverage to a maximum of $5,000 per year, per child for up to 4 consecutive years. These payments are in addition to your term life benefit amount. This benefit is also available to your spouse.

Plans for your child's post-secondary education can continue.
With the BCTF Group Term Life Insurance plan, you have the peace of mind knowing that your dreams of higher education for your child won’t be cut short by your premature death. If your child is attending a post-secondary institution at the time of your death, or if they enrol within 365 days of your death, the plan will reimburse their education expenses up to 5% of your Term Life Insurance coverage to a maximum of $5,000 per year, per child, for up to 4 consecutive years. These payments are in addition to your term life benefit amount. This benefit is also available to your spouse.

Additional features:

Your insurance will also help you with expenses during the difficult end-of-life period.
If you’re diagnosed with a terminal illness from which you are not expected to survive beyond 12 months of your written prognosis, iA Financial Group will pay you an amount equal to 50% of the Term Life Insurance you have in effect, to a maximum of $100,000. Your insurance must have been in force for at least two full years at the time of prognosis.

Spousal Conversion Privilege.
If your spouse's Voluntary Term Life Insurance terminates prior to age 65 because they are no longer an eligible spouse they may apply to convert to an individual insurance policy. They may convert up to $200,000 to selected individual insurance plans. Applications for conversion must be received within 31 days of termination and new rates will apply.

Keep your coverage when you retire.
As long as you continue to pay your premiums you can keep your coverage even after you retire! For members paying by payroll deduction, coverage will need to be moved to a direct billed 12 month paid basis and monthly premium rates applicable will be consistent with the “12 Month Basis” premium rates.

Keep your coverage during a leave of absence.
If you are granted a leave of absence from your employer, you may continue your insurance and the insurance on your dependents provided you continue paying your premiums. 

If you should die while you’re away from home...
BCTF Term Life Insurance will pay for transportation of your remains to your city of residence, including preparation of the body for transportation, to a maximum of $10,000. This benefit is also available to your spouse.

You and your spouse can each apply for coverage to a maximum of $1,000,000. Together, you could have up to $2,000,000 of protection for your family!

Term Life Insurance
Your Monthly Premium (per $10,000 of Coverage):

Term Life Insurance
Monthly Premium rate per $10,000 unit
Based on Member's Age as of January 1*10 Month Basis12 Month Basis
 Non-Smoker**SmokerNon-Smoker**Smoker
Under 35$0.58$0.72$0.48$0.60
35-39$0.65$0.84$0.54$0.70
40-44$0.92$1.20$0.77$1.00
45-49$1.51$1.98$1.26$1.65
50-54$2.71$3.54$2.26$2.95
55-59$4.34$5.64$3.62$4.70
60-64$6.68$8.70$5.57$7.25
65-69***$9.52$14.40$7.93$12.00
70-74***$16.58$21.30$13.82$17.75
75-79***$26.27$29.70$21.89$24.75
80-84***$37.79$40.54$31.49$33.78
85Coverage Terminates

Rates are subject to provincial sales tax where applicable.
 

Important information about your premium rates:

*Premiums for both the member and spouse are based on the member’s age at January 1 and will increase as the member reaches a higher age band.

**Non-smoker rates apply to individuals who, at the time of application, have not used tobacco, nicotine, or cannabis mixed with tobacco in any form whatsoever within the last 12 months and who have provided satisfactory evidence of insurability.

***The oldest age at which you can apply is 64. The premiums for ages 65 to 84 are for renewal of existing coverage only.

 

How will premiums be collected?

For Term Life, Accidental Death & Dismemberment and Dependent Children Term Life Insurance:

The majority of British Columbia School Districts participate in the “Premium by Payroll Deduction” administration process for this plan.

This means that if your annual salary is payable over 10 months, the 10 month basis rates apply and premiums for you and/or your spouse will be deducted from your salary in 10 equal amounts. If your salary is paid over 12 months, the 12 month basis rates apply and premiums will be deducted monthly.

For a complete list of participating School Districts, please press here.

For BCTF members who do not wish to participate in the “Premium by Payroll Deduction” administration process, the 12 month basis rates will apply and your Term Life, AD&D and Dependent Children Term Life Insurance premiums will be billed directly to you. You have the convenience of paying your premiums on either an annual basis by cheque or credit card, or on a monthly basis through pre-authorized cheque, Visa, or MasterCard. Annual premiums are due by January 1 of each year. Monthly premiums are deducted from your account or charged to your credit card on or about the first of each month.

​1. Am I eligible for Term Life Insurance?

Members and their spouses are eligible to apply for Term Life Insurance if they are under 65 and residing in Canada.

“Member” means a person who, at the time of application, is employed directly by the Policyholder or who is a member of the British Columbia Teachers' Federation and holds active membership, associate membership, or affiliated administrative membership. 

Spouse means the legal or common-law spouse of an eligible member. Legal spouse means a person who is legally married and cohabiting with the member and with whom there is no formal or informal agreement of separation. Common-law spouse means a person who has been cohabiting in a marriage-like relationship with the member for at least 12 consecutive months.

If you are eligible as a member and as a spouse, you will only be considered for insurance as a member.

2. When does my coverage terminate?

Your insurance will terminate automatically on the earliest of the following dates:

  • the due date of any unpaid premiums;
  • the June 30, following the date you turn age 85 providing you continue working until the end of the school year and you are paid on a 12 month basis;
  • the September 30, following the date you turn age 85 providing you continue working until the end of the school year and you are paid on a 10 month basis;
  • the December 31, following the date you turn age 85 if you choose not to work to the end of the school year or you are direct billed;
  • with regard to your spouse's Term Life Insurance, the earliest of the above or the date they reach age 85 or the date they no longer qualify as a "spouse".

3. Will my premiums stay the same?

Premiums are calculated based on the member's age and applicable rate at the beginning of each January.

Please refer to the pricing tab to find out your age band and monthly premium.

4. Can I change amounts of insurance?

Yes. To increase coverage, you will need to complete a new application. You can print off the appropriate application in the Apply Now section. Note that you must meet the BCTF membership requirements in order to apply for an increase in coverage.

Decreases in coverage require your written authorization. These can be submitted to us by mail. Please ensure you have signed and dated your request. You can mail your request to:

Special Markets Solutions
Industrial Alliance Insurance and Financial Services Inc.
400 - 988 Broadway W.
PO Box 5900
Vancouver BC, V6B 5H6

5. Are there any limitations or exclusions I should be aware of?

The only exclusion is suicide occurring within two years of the effective date of your insurance.

Also, please be aware that if you are entitled to the Daycare, Education, Repatriation, Retraining or Rehabilitation Benefits for Term Life Insurance or AD&D Insurance under this policy or any other policy issued by iA Financial Group, the company’s total liability will be limited to the lesser of the actual expense incurred and the maximum benefit provided.

6. Whom can I name as my beneficiary?

You can name any person as your beneficiary. You are your spouse's beneficiary unless your spouse names a different beneficiary. You may change your beneficiary by written instruction at any time unless irrevocably appointed. Please note that in Quebec, if you make your spouse your beneficiary that designation is irrevocable, unless you have specified otherwise.

7. Where can I find out more information?

For more information please see our Customer Service page.

You can also contact a Client Service Specialist by email at solutions@ia.ca, or call our toll-free number at 1 (800) 266-5667 (6:30am to 4:30pm Pacific Time). 

8. About Spousal Conversion.

If your spouse's Term Life Insurance terminates because they are no longer eligible before age 65, they can convert up to $200,000 of it to selected individual plans within 31 days. This may be done without further evidence of health at smoker rates applicable to their age at the time of conversion. To convert send the notification to:

Special Markets Solutions
Industrial Alliance Insurance and Financial Services Inc.
400 - 988 Broadway W.
PO Box 5900
Vancouver BC, V6B 5H6

9. How will my premiums be collected?

The majority of British Columbia School Districts participate in the “Premium by Payroll Deduction” administration process for this plan.

This means that if your annual salary is payable over 10 months, the 10 month basis rates apply and premiums for you and/or your spouse will be deducted from your salary in 10 equal amounts. If your salary is paid over 12 months, the 12 month basis rates apply and premiums will be deducted monthly.

For a complete list of participating School Districts, please press here

For Teachers on Call, for those BCTF members who are employed by a school district that does not participate in the “Premium by Payroll Deduction” administration process, or for BCTF members who prefer to be billed directly, the 12 month basis rates will apply and your Term Life, AD&D and Dependent Children Term Life Insurance premiums will be billed directly to you. You have the convenience of paying your premiums on either an annual basis by cheque or credit card, or on a monthly basis through pre-authorized cheque, Visa, or MasterCard. Annual premiums are due by January 1 of each year. Monthly premiums are deducted from your account or charged to your credit card on or about the first of each month.

10. Can I continue my insurance after I retire?

Retiring Members are eligible to continue their own and/or their spouse's Term Life coverage up to age 85. If the Member reaches age 85 first, the spouse's coverage will terminate when the Member's coverage terminates. To change from payroll deduction premium payment method to pay directly to our company instead, your must complete the Request for Continuation of Insurance from Payroll Deduction to Direct Billing.

Questions? We're here to help.
Call 1 (800) 266-5667 or email solutions@ia.ca