Common use of Additional Life Insurance Clause in Contracts

Additional Life Insurance. The Administrator will have the option to purchase additional term life insurance with pre-tax dollars, 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 after the initial enrollment period.

Additional Life Insurance. The Administrator Each staff member will have the option to purchase additional term life insurance with pre-tax dollars, 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 after the initial enrollment period.

Additional Life Insurance. The Administrator Each employee will have the option to purchase additional term life insurance with pre-tax dollarsdollars (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 after the initial enrollment periodfor amounts in excess of $100,000.

Additional Life Insurance. The Administrator Assistant Superintendent will have the option to purchase additional term life insurance with pre-tax dollars, 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 after the initial enrollment period.

Additional Life Insurance. The Administrator will have the option to purchase additional term life insurance with pre-pre- tax dollars, 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 after the initial enrollment period.