Additional Life Insurance. All eligible employees shall be permitted to purchase term life insurance in addition to the amount provided by the Board in paragraph C. of this Article.
Additional Life Insurance. Each employee will have the option to purchase additional life insurance with pre-tax dollars (if permitted by IRS rules), to a maximum of $300,000 (if permitted by the insurance company) at the beginning of each Flex Election period. Any amount in excess of $50,000 will be considered as additional imputed income in compliance with current IRS regulations. Evidence of insurability will be required for amounts in excess of $100,000.
Additional Life Insurance. Eligible employees in this unit shall have the option to purchase additional term life insurance in increments of $25,000 to a maximum of $200,000 at the County's rate.
Additional Life Insurance. Supplemental Life Insurance with AD & D totaling $25,000 will be provided to employees who qualify at the employee's option and at his/her own expense subject to the limitations enforced by the insurance carrier.
Additional Life Insurance. Employees may purchase additional voluntary term life insurance at a discount through the County’s additional Life Insurance and AD&D coverage.
Additional Life Insurance. The Executive has acquired an individual level term thirty (30) year policy (“Term Life Insurance”) with a death benefit of $600,000.00. The Bank shall annually pay Executive $3,000.00 on or within two weeks of the day the annual premium is due, provided that the Executive is an employee pursuant to the terms of this Agreement or as it may be amended or as otherwise provided pursuant to Sections 13(b), 13(c) or 14(c). This amount is to reimburse Executive for the Term Life Insurance Premium and to provide Executive with funds to pay any applicable federal, state and local taxes owed due to the receipt of the Term Life Insurance premium, and is in lieu of performing an annual gross-up calculation.
Additional Life Insurance. The Employer will implement options to purchase more units of life insurance (4x or 5x base pay) at no cost to the Employer for eligible employees. Medical information will be required to determine eligibility.
Additional Life Insurance. Classified employees may elect to buy additional group term life insurance in addition to that provided in article 17.3(A) and (B). The parties shall provide opportunity for individuals to purchase additional term life insurance in the maximum amount permitted by the carrier. To the extent possible coverage shall be offered to the employee without need of physical exams. This additional insurance shall be paid through payroll deduction at the same rate as the Board pays for coverage in 17.3(A) and (B). Election of this additional coverage or deletion of this additional coverage shall be made each year only during the month of October with an effective date of the following January 1.
Additional Life Insurance. Without the prior written consent of Lender and RBS, purchase additional life insurance from Borrower’s business assets or income.
Additional Life Insurance. 1. Employees are eligible to participate in Additional Life Insurance (Additional Life) which is a flat amount equal to one (1) times the employee’s annual base earnings, two thousand and eighty (2,080) hours X base straight time hourly rate, rounded to the next higher even thousand dollars ($1,000) with accidental death or dismemberment provisions. Premiums for this coverage are paid fifty percent (50%) by the District and fifty percent (50%) by the employee.
2. Coverage reduces thirty five percent (35%) of the Additional Life amount at age seventy (70), sixty five (65%) at age seventy five (75) and will remain at the thirty five percent (35%) level until employee retires.
