Advance Payment of Group Life Benefits for Terminally Ill Employees Sample Clauses

Advance Payment of Group Life Benefits for Terminally Ill Employees. The guidelines regarding payment of group life benefits for terminally ill employees pursuant to Clause 25.4(a) Group Life are as follows: • Death must be “expected” within 24 months. The employee’s attending physician will be required to provide sufficient medical information, including, employee’s diagnosis and prognosis, to allow the group life insurance carrier to assess life expectancy. • Requests for advance payments must be in writing. • Authorization from the Employer must be submitted with the employee’s request. • The amount of the payment will be 50% of the life insurance coverage, subject to a maximum of $50,000. • A signed release will be obtained from the insured employee prior to payment being made. A release is not required from the designated revocable beneficiaries as they have no legal rights to the life insurance proceeds until after the insured’s death. Situations involving irrevocable beneficiaries or divorce judgements will require special releases. MEMORANDUM OF UNDERSTANDING 1 Board and Lodging and Relocation Expenses Part II - Relocation Expenses