New Benefit Options with Canada Life

This May, we introduced two new optional benefits for Canada Life Group Benefits members, along with new investment options for participants in the Canada Life RRSP Program.

These options provide flexibility for team members to personalize benefits to best support themselves and their families.

Freedom to Choose – Portable Benefits

Shannex team members who are participating in the Canada Life Group Benefits plan can now apply for Optional Life, Optional AD&D and Optional Critical Illness insurance. This provides team members will the financial benefit of group insurance rates and the assurance that the policy can be retained up to age 85 regardless of their employment status. Freedom to Choose also includes options for spousal and dependent insurance.

Critical Illness is a new type of insurance not previously offered in the group plan. Critical Illness insurance provides a one-time tax-free payment if you become ill with one of the conditions covered by the policy. This type of insurance can offset medical costs or a reduction of income, ensuring that you can focus on your health. Critical Illness coverage goes up to age 65.

Sustainable Target Date funds with Canada Life

We are proud to provide our Shannex team members the option of directing their RRSP investments toward companies that promote environmental sustainability. Investing in companies that demonstrate strong environmental, social and governance practices ensures team members can have a positive influence towards a more sustainable world.

Sustainable target date funds are no different than standard target date funds. The funds are managed by Canada Life using the expected retirement date based on your age. Performance data on the funds is included in the fund summary.

We are always looking for ways to enhance our benefit programs. If you have an idea or a question, please reach out to our team at: GreatRewards@shannex.com