Your “Savvy Retiree” Newsletter for March 2023
To facilitate the reading of the different articles, just click on one of the titles below
USEFUL INFORMATION
The life insurance plan offered to the retiring member is optional. To avoid surprises, it is important to understand how it works.
One of the characteristics of the contract is that the member may not retain more than 75% of his insured capital on his 75th birthday and 50% of his insured capital on his 80th birthday.
The member must also take into account that his premium will increase every 5 years with age.
The insured amount payable on the death of the member will be paid to the beneficiary. In the absence of a designated beneficiary, the insured amount is payable to the member’s estate.
In all cases of death, the insurer must be informed of the death of one of the insured under the contract by written notice or by telephone call to customer service within 90 days following the date of death. If you write to the insurer, we recommend using the registered mail proving the deposit and delivery of a letter against signature.
The surviving spouse must inform the insurer within 31 days of the death if he or she wishes to maintain life insurance coverage for dependent children.
Follow this link to the Leaflet for retirees / January 2022 if you wish to consult the sections related to life insurance.
Follow this link to What should I do if my spouse dies ?
Follow this link to Customer Centre if you want to check your insurance record.
Follow this link to the Autorité des marchés financiers if you want to learn more about the 8 questions and answers to demystify life insurance
By following the link below, you will be able to produce a simplified or detailed tax return.
There is also a Frequently Asked Questions section on the page.
User Guide - Obtaining a statement for tax purposes
You may need to change your protection status if you experience any of the life events listed below.
❖ Death of an insured person under the contract.
❖ Separation/divorce.
❖ Marriage, civil union or common-law partner.
❖ End of eligibility of the last dependent.
❖ End of spousal protection.
→ Individual status protects the member only.
→ Single-parent status protects the member, their dependent children, and the affected person a functional impairment.
→ Family status (including couple) protects the member and his/her spouse and, where appropriate, dependent children and the person with a functional impairment.
The premium paid on a monthly basis takes into account the protection status.
SSQ conducts audits to validate eligibility for reimbursement of a supplier’s expenses based on the criteria established within your group insurance contract.
A list of vendors whose fees are not reimbursed is available on your Customer Centre. It is updated regularly to allow you to verify that the suppliers you are dealing with are not included, otherwise your claim will be denied.
For example, two providers of foot orthotics, massage therapists and naturopaths are listed as ineligible suppliers.
If you receive a letter from the Société de l’Assurance Automobile du Québec (SAAQ) asking you to be evaluated by an occupational therapist who is a member of the Ordre des ergotheraptes du Québec, please be aware that you will have to pay the cost of the evaluation because expenses incurred for a medical examination for a third party are not eligible for reimbursement.
This exclusion applies to basic and extended accident and sickness insurance schemes.
Follow this link for practical information on the Health and safety of seniors on the road
Line St-Cyr, Coordinator, ACR
In this newsletter, the use of the male form is intended only to lighten the text and is not discriminatory.