Common use of Additional Life Insurance Clause in Contracts

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.

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 '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 thirty-five percent (35%) of the Additional Life amount at age seventy (70), sixty sixty-five (65%) at age seventy seventy-five (75) and will remain at the thirty thirty-five percent (35%) level until employee retires.