Benefits Plan Update

Carleton University provides a comprehensive employee benefits program. An important part of managing the benefits program is the annual renewal of contracts with our insurance carriers to negotiate the best rates possible.

Carleton participates in the University Life Insurance Plan (ULIP).  ULIP is a joint initiative among multiple Ontario universities to achieve economies of scale for basic life insurance. The overall objectives of ULIP are the following:

• To achieve economies of scale through bulk purchasing,

• To preserve each university’s individual autonomy with respect to plan design,

• To offer competitive premiums over the long term, and

• To establish rate stability by combining the experience of all universities into one policy.

This allows ULIP to leverage from the overall size of the group resulting in lower premiums.

At our recent renewal this year we were happy to receive a 10% reduction from last year’s rate.  In addition, we are pleased to share that we will be implementing an 8 month basic life insurance premium holiday commencing with the first pay of July 2025 as a result of the positive performance of the plan.