||Reserve Term Insurance Plan (RTIP)|
Frequently asked Questions
How do I apply?
By completing an application form and submitting it to a SISIP Financial Advisor or SISIP Financial Head Office/ Customer Service
, at the address indicated on the application form. You can get a form in any of our SISIP Financial offices
, by calling 1-800-267-6681 or you can download the form
Do I have to provide evidence of insurability?
Unless you are transferring an existing coverage with SISIP Financial, you must complete the appropriate section of the application form titled “Medical History”. It should be noted that a medical examination may be requested by Manulife, the Insurer.
What are some of the most important features?
- No exclusions for war, dangerous occupations, hobbies, volunteer activities or sports;
- Less stringent medical underwriting requirements;
- Accidental dismemberment benefits for injuries for:
- insured members whose injuries are “non-attributable to military service*” equal to their SISIP Financial coverage in force at the date of accident up to a maximum of $250,000†;
- insured spouses same as for members;
- dependent children to a maximum of $10,000;
- A free Dependent Life (DL) coverage of $10,000; and
- A living benefit that provides, under specific circumstances, access to:
- An amount not to exceed 50% of the face value of the life insurance in force to a maximum of $50,000, provided that the insured has a terminal illness and the prognosis by the physician, and confirmed by Manulife's consulting physician, is that death is expected within 12 months.
* “Non-attributable to military service” is interpreted as meaning “does not arise out of or is not directly connected with military service.”
† The Accidental Dismemberment Insurance Plan (ADIP) provides benefits for members whose injuries are attributable to military service.
What are the exceptions and limitations of the accidental dismemberment benefits?
No benefit is payable for dismemberment:
- incurred while participating in a criminal offence; or
- caused by or related to a self-inflicted injury or attempted self-destruction, whether mentally incapacitated or not; or
- resulting from an accident occurring prior to enrolling in or being insured under OGTI or RTIP; or
- incurred through sickness or disease or the medical or surgical treatment thereof except pus-forming infection which occurs through an accidental cut or wound: or
- if the accident occurred on or after the insured member or spouse's 75th birthday; or
- for members whose dismemberment(s) is/are attributable to military service. Such dismemberment(s) may be covered under the Accidental Dismemberment Insurance Plan (SISIP Policy No. 906906), subject to all of the terms and conditions therein.
Who is eligible for Dependent Life (DL)?
A dependent child is eligible for DL until their 25th birthday . The term “child”, unless stated otherwise, means a member's:
(i) dependent natural children;
(ii) natural stillborn children;
(iii) dependent step-children;
(iv) dependent legally adopted children;
(v) dependent children to whom the member stands in loco parentis.
Dependent child means a child who is:
(i) unmarried and not employed (on a regular and full time basis); and
(ii) not covered by his own life insurance coverage under this Policy; and
(iii) dependent upon:
a. a living member; or
b. a former member's surviving spouse; or
c. a legal guardian, or in the absence of a legal guardian, a relative of either the member or the member's spouse.
There shall be no maximum age limit applied if the dependent child has been continuously and wholly dependent upon one of the parties (in (iii) a – c above), and is unable to provide for his/her own maintenance as a result of a physical or mental infirmity.
What are the limitations of DL?
DL coverage is limited in all circumstances to $10,000 per “dependent child”.
How is the term "spouse" defined?
A person who is married to a serving or released member; or
A person for whom a written declaration of common law status has been filed with SISIP Financial.
How are my premiums for OGTI or RTIP determined and how do I pay them?
Premiums for these plans are age-banded, based on your smoker/non-smoker status, the amount of coverage requested, and increase in five-year increments.
Your premiums can be paid using one of the following methods, depending on your specific circumstances:
When does life insurance coverage begin?
Conditional coverage begins when a SISIP Financial office receives your completed application. If you should pass away while your application is going through the underwriting process, your claim will be paid unless the cause of death is related in any way to a non-insurable pre-existing medical condition.
Any new coverage is subject to the approval of SISIP Financial or the Insurer, Manulife. Therefore, you must be cautioned that NO action should be taken to terminate your existing life insurance coverage until notified of the final decision.
What happens once I am released from the Canadian Armed Forces (CAF)?
If you're released from the CAF and are covered under any of the SISIP Financial term life insurance plans, you're entitled to transfer your coverage to Insurance for Released Members (IRM) without evidence of insurability within 60 days following your effective date of release.
Please note that during the period of conversion, the full OGTI/RTIP benefit is payable if death occurs within 60 days of the effective date of release.
Are the benefits under OGTI and RTIP taxable?
No, the OGTI and RTIP benefits are not taxable to the beneficiary(ies).
Can my benefits be assigned?
No. You can't assign, encumber or commute any rights or benefits under this Policy.
Who can I designate as my beneficiary(ies)?
Any person(s) or organization(s) may be designated as the beneficiary(ies) of a member's OGTI or RTIP policy. However, the primary beneficiary of a spousal coverage is the applicant unless you specified otherwise. In the absence of a beneficiary designation on a member's coverage, the proceeds are paid to the estate. In most cases, this is not recommended, so please see a qualified, licensed SISIP Financial Advisor.
What are the documents required to file a claim?
- The marriage certificate of the beneficiary(ies), and
- A Long Form birth certificate of any dependent children.
Please note that, when notified of a loss, the Insurer (Manulife) mails the necessary forms and instructions to the beneficiary(ies) on record. Your beneficiary(ies) can also obtain the forms and assistance from a SISIP Financial Advisor, or by calling the SISIP Financial Head Office/CustomerService
What are the limitations and exclusions of OGTI and RTIP?
If your death results from self-destruction, whether mentally incapacitated or not:
- No OGTI or RTIP life insurance benefit is payable unless the life insurance became effective or was reinstated for more than two years prior to the date of death; and,
- No increase in OGTI or RTIP coverage is payable unless that increase became effective or was reinstated more than two years prior to the date of death.
The maximum insurance benefit payable on the insured cannot, in aggregate, exceed $600,000 under each, or a combination of, OGTI, RTIP, CAR and/or IRM.
When does my insurance coverage terminate?
- The day we receive notification in writing that you have withdrawn authorization for the payment of the required premiums;
- On the 61st day following your effective date of release from the CAF unless you transfer your coverage to the IRM option within that period of time;
- If you are transfering from the Regular Force to the Reserve Force, your coverage will terminate on the 61st day following your transfer unless you replace your coverage with the appropriate plan;
- At the certificate anniversary date following your 75th birthday; or
- The date on which the group policy is terminated.
Please note that in the case of conflict between the information on this page and the insurance contract Policy No. 901102, the terms of the English contract will prevail. The documents posted on this website are provided for reference purposes only and shall not be considered to be definitive.