Cost / Premiums

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Basic Life Insurance


The monthly premiums for Basic Life Insurance are as follows:

​Employees pay... ​NAV CANADA pays...
$0 $0.15 per $1,000 of coverage
Premiums are subject to provincial tax: for Ontario (8%), Quebec (9%) and Manitoba (8%).
 
Life insurance premiums and provincial tax paid by NAV CANADA constitute a taxable benefit under the Income Tax Act. This amount is added to your T4 and Relevé 1 slips, for active employees. Applicable income tax is deducted from your pay. If you live in Quebec and work in another province you will not receive a Relevé 1 slip.
 
 
 
 
 
 
Published on February 01, 2016