Life Insurance - Retired Members

Life Insurance Coverage Offered at Retirement

At retirement, you may choose and pay for up to five units of Post Retirement Insurance (PRI) depending on the number of units of Optional Life Insurance you had while actively at work.

For example, if you had Basic Life Insurance and three units of Optional Life Insurance while working, you are eligible for four units of PRI when you retire. If you had only Basic Life Insurance, you are eligible for one unit of PRI.

Each unit is equal to $7,000 of insurance before the age of 60 and at age 60 reduces by $1,000 per unit every five years. At age 90, Life Insurance coverage and premiums stop.

In addition, some retiring members may qualify for a Paid-up Life Insurance Policy. HEB Manitoba will advise you at retirement if you qualify.

Canada Life administers and adjudicates the claims for the PRI and Paid-up Life Insurance Policy.

Retail Sales Tax on Group Life Insurance Premiums

As a result of the Manitoba 2012 Provincial Budget, Retail Sales Tax (RST) must now be paid on group life insurance premiums. If you require further information, please contact our Member Services team at (204) 942-6591 or 1-888-842-4233 (outside Winnipeg).