Nunavut Tunngavik Inc. Chief Executive Officer Terry Audla today announced the end of the Beneficiary Death and Dismemberment Insurance program.
Audla said the NTI Board of Directors made the decision based on a review that showed the premiums paid for the program outweighed the benefits received by Beneficiaries over the past few years.
“This was a difficult decision to make, but more money was being spent on running the program than on compensating Inuit,” said Audla. “The Board carefully reviewed the numbers and came to the decision to cancel the program to better utilize Beneficiary dollars.”
The Beneficiary Death and Dismemberment Insurance program is cancelled effective June 30, 2011.