Common use of Additional Term Life Insurance Clause in Contracts

Additional Term Life Insurance. a. The Board shall make available to each Member of the Bargaining Unit and each retiring Member of the Bargaining Unit a plan by which additional term life insurance may be purchased by a Member of the Bargaining Unit or a retiring Member of the Bargaining Unit to increase their own coverage. Such additional coverage must be in multiples of $1,000.00 and its purchase is subject to the following conditions: b. A Member of the Bargaining Unit remaining in active service shall pay the cost of such insurance through payroll deduction. c. A Member of the Bargaining Unit remaining in active service wishing to purchase additional insurance under this provision shall notify the Director of Business Services within the first ten (10) working days of the first semester of the school year. d. A Member of the Bargaining Unit who is retiring at the end of the current school year and wishes to purchase insurance under this provision shall notify the Director of Business Services at least thirty (30) calendar days prior to the effective date of retirement. e. A Member of the Bargaining Unit who is retiring at the end of the current school year shall pay the cost of such insurance on a semi-annual basis and due dates shall be established by the Director of Business Services. If payments are not received by these dates, the Board may cancel the insurance.

Additional Term Life Insurance. a. The Board shall make available to each Member of the Bargaining Unit and each retiring Member of the Bargaining Unit a plan by which additional term life insurance may be purchased by a Member of the Bargaining Unit or a retiring Member of the Bargaining Unit to increase their his/her own coverage. Such additional coverage must be in multiples of $1,000.00 and its purchase is subject to the following conditions: b. A Member of the Bargaining Unit remaining in active service shall pay the cost of such insurance through payroll deduction. c. A Member of the Bargaining Unit remaining in active service wishing to purchase additional insurance under this provision shall notify the Director of Business Services within the first ten (10) working days of the first semester of the school year. d. A Member of the Bargaining Unit who is retiring at the end of the current school year and wishes to purchase insurance under this provision shall notify the Director of Business Services at least thirty (30) calendar days prior to the effective date of retirement. e. A Member of the Bargaining Unit who is retiring at the end of the current school year shall pay the cost of such insurance on a semi-annual basis and due dates shall be established by the Director of Business Services. If payments are not received by these dates, the Board may cancel the insurance.

Additional Term Life Insurance. a. a) The Board shall make available to each Member of the Bargaining Unit and each retiring Member of the Bargaining Unit a plan by which additional term life insurance may be purchased by a Member of the Bargaining Unit or a retiring Member of the Bargaining Unit to increase their his/her own coverage. Such additional coverage must be in multiples of $1,000.00 and its purchase is subject to the following conditions: b. b) A Member of the Bargaining Unit remaining in active service shall pay the cost of such insurance through payroll deduction. c. c) A Member of the Bargaining Unit remaining in active service wishing to purchase additional insurance under this provision shall notify the Director of Assistant Superintendent - Business Services within the first ten (10) working days of the first semester of the school year. d. d) A Member of the Bargaining Unit who is retiring at the end of the current school year and wishes to purchase insurance under this provision shall notify the Director of Assistant Superintendent - Business Services at least thirty (30) calendar days prior to the effective date of retirement. e. e) A Member of the Bargaining Unit who is retiring at the end of the current school year shall pay the cost of such insurance on a semi-annual basis and due dates shall be established by the Director of Business ServicesAssistant Superintendent - Business. If payments are not received by these dates, the Board may cancel the insurance.