SISIP FS - Feature Article

As of July 1^st, 2005, if you are a Canadian Forces (CF) member or a spouse and have term life insurance coverage with SISIP Financial Services (SISIP FS) under the Optional Group Term Insurance (OGTI) or the Reserve Term Insurance Plan (RTIP), you may receive a reduction in your premiums.

As well, all OGTI and RTIP participants will benefit from a new Accidental Dismemberment clause added to their policy at no additional cost, which will provide benefits for injuries for:

Members whose injuries are non-attributable to military service to a maximum of their life coverage in force at the time of the accident;
Insured spouses to a maximum of their life coverage in force at the time of the accident; and
Dependant children to a maximum of $10,000.

With these changes, SISIP FS continues to offer premiums that are among the lowest in the insurance marketplace for comparable coverage. In fact, on a weighted average basis, the serving members premium rates are 8% to 15% lower than the lowest comparable rates in the industry.

Monthly Rates Per $10K Coverage

In addition to the new Accidental Dismemberment coverage and low premium rates, OGTI and RTIP participants are offered the following important benefits:

No war or terrorism exclusion clause;
No exclusions for dangerous occupations, hobbies, volunteer activities or sports;
Less stringent medical underwriting requirements; and
A life insurance for dependant children for an amount of $10,000.

SISIP FS licensed insurance representatives are available to answer your questions in regards to these improvements to your SISIP FS life insurance plans and can help you review the coverage you need to protect your loved ones. You can contact your local SISIP FS insurance representative in one of our 18 offices throughout Canada, call 1-800-267-6681 (233-2177 in Ottawa)

Questions & Answers