Common use of Additional Optional Term Life Clause in Contracts

Additional Optional Term Life. Optional term life insurance is available in an amount up to one hundred twenty thousand dollars ($120,000) at the bargaining unit member's expense through payroll deduction at rates established for the bargaining unit member's specific age group. Optional term life insurance will require evidence of insurability and may be obtained only during regularly established enrollment periods. Coverage shall be reduced beginning at age sixty-five

Additional Optional Term Life. Optional term life insurance is available in an amount up to one hundred twenty thousand dollars ($120,000) at the bargaining unit member's expense through payroll deduction at rates established for the bargaining unit member's specific age group. Optional term life insurance will require evidence of insurability and may be obtained only during regularly established enrollment periods. Employees shall have the right to convert their group term life insurance to Ordinary Life Coverage shall be reduced beginning at age sixtytheir expense within thirty-fiveone (31) days following termination or retirement.