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News and Updates


Taking stock of your benefits coverage


It is time to take stock of your benefits coverage and ensure you have the coverage you need.

It is important to review this information whenever you have a change in your work status (e.g. number of hours worked, full-time equivalent) or a major life change (e.g. getting married/divorced, having a child).

After you have logged into My Benefits, you can select View all benefit selections in the My Benefits box.

Using the following four tabs, you can review your benefits coverage and costs, personal information, dependants (who is covered under your plan) and beneficiaries.

Tab

You can review:

Today's Coverage

  •  Cost Summary: the benefit costs paid by the Employee Life and Health Trust (Monthly trust cost) and/or you (Your monthly premium cost).
  • You can also review each benefit and the related cost, the level of coverage (Single/Family) and your life and accidental death and dismemberment (AD&D) insurance.

Personal Information

  • You will need to contact your school board/employer to change the following information:
    • Full Name
    • Date of Birth
    • Address
  • Your preferred email

Dependants

 

Beneficiaries

  • Your beneficiary(ies) for your life insurance policy.

  • There are many risks and added expenses to consider if your beneficiary designation is not complete. Your policy proceeds may not be given to your desired up-to-date beneficiary (e.g. spouse, children). Instead, the proceeds will be directed to your estate.

  • Ready to update your beneficiary designations?



Primary beneficiary: the person or entity you designate is the first in line to inherit assets when you pass away. You can name more than one primary beneficiary for an asset, which means those beneficiaries split the assets.

Contingent beneficiary: This person will only inherit if your primary beneficiary(ies): (1) cannot be located, (2) refuse the inheritance or (3) die before you do.

 
Questions? We are here to help! You can contact OTIP Benefits Services at 1-866-783-6847.

Related links:
What would happen to my life insurance if my spouse or all the named beneficiaries were deceased?

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