Life and AD&D Insurance
Life and Accidental Death & Dismemberment (AD&D) Insurance provides financial protection for your loved ones if you pass away or suffer a serious injury that results in dismemberment.
These benefits can help cover final expenses, pay off debts like credit cards or mortgages, or provide added financial stability during a difficult time.
Basic Life Insurance
Basic Life insurance is provided at no cost to you, and you are automatically enrolled. If you purchase additional Life insurance for yourself, you may also purchase coverage for your spouse and dependent children.
| COVERAGE FOR | COVERAGE AVAILABLE |
| Employee | 1x your basic annual base salary, plus commission, not to exceed $250,000 |
| Benefit reduced by 50% of the original amount if you are age 65 or older | |
| At age 70, your benefit will be further reduced to a maximum benefit of $10,000 | |
| Spouse/Domestic Partner | $5,000 coverage |
| Coverage ends when employee reaches age 70 or retires, whichever is earlier | |
| Child(ren) | $2,500 coverage |
| Your child(ren) live birth to 25 years (26 if residing in Quebec) are eligible |
Coverage is provided to eligible employees with no payroll deduction. The benefit is not taxed when paid. However, the Company paid premiums for Basic Life Insurance and Basic AD&D Insurance are considered income and are subject to payroll taxes.
Basic AD&D Insurance
AD&D insurance is provided as part of your Basic Life coverage and provides you specified benefits for a covered accidental bodily injury that directly causes dismemberment (i.e., the loss of a hand, foot, or eye). In the event that death occurs from an accident, 100% of the AD&D benefit would be payable to your beneficiary(ies).
| COVERAGE FOR | COVERAGE AVAILABLE |
| Employee | 1x annual base pay, up to a maximum of $250,000 |
| There is a dismemberment schedule with varying levels of benefits |
Coverage is provided to eligible employees with no payroll deduction. The benefit is not taxed when paid. However, the Company paid premiums for Basic Life Insurance and Basic AD&D Insurance are considered income and are subject to payroll taxes.
Elect a Beneficiary
- Log in to mysunlife.ca.
- Go to the Profile icon found at the top, right-hand side of the home page. Next, select Personal information, then select Beneficiary Information from the Sun Life Group Life Benefits option.
- Take a moment to view your beneficiary information and then follow the steps to enter or update your beneficiary.
- During your review, you will see an information symbol. It will help you understand everything you need to know.
- If you miss something important, an icon will appear to let you know.
Optional Life Insurance
United Rentals also offers Optional Employee, Spouse and Child Life Insurance. Coverage is fully employee paid. To elect Optional Life and/or Optional AD&D Insurance, log into mysunlife.ca and choose the Employment or life event change option. Any amount requested is not guaranteed and requires the completion of a Health Statement Form.
| COVERAGE FOR | COVERAGE AVAILABLE |
| Employee | Minimum of $10,000, in increments of $10,000 up to $250,000 max. Coverage will end at age 65 or retirement, whichever is earlier. |
| Spouse/Domestic Partner | Minimum of $10,000, in increments of $10,000 up to $250,000 max. Coverage will end when employee reaches age 65 or retirement, or when spouse reaches 65, whichever is earlier. |
| Child(ren) | Minimum of $5,000, in increments of $5,000 up to $25,000. Coverage will end when employee reaches age 65 or retirement, whichever is earlier. Or when dependent Is no longer eligible. |