DEPENDENT TERM LIFE INSURANCE
This optional benefit is selected by the firm for all partners and employees with dependents (spouse and/or children).
Benefit Payable
The benefit is $5,000 for a spouse and $5,000 for each dependent child. You are automatically the beneficiary for Dependent Life insurance, unless CAIPW receives a written notice naming a different beneficiary.
Dependent Children
Dependent children are unmarried, dependent on you for support, over 14 days and under 21 years of age, or in full time attendance at school or university if they are between the ages of 21 and 25. Additional children are automatically covered on becoming 15 days of age or, if in hospital at that time, on the date of discharge.
Premium
The monthly premium is $2.00 per family.
