Amount of Life Insurance Sample Clauses

Amount of Life Insurance. The Board shall purchase from a carrier licensed by the State of Ohio, group life insurance for each bargaining unit member in the amount of $35,000 for secretaries, custodians, food service personnel and for those bargaining unit members other than bus drivers who regularly work either seven (7) or eight (8) hours a day, and bus drivers who regularly drive a double route. For bargaining unit members regularly performing their duties and taking less time than the above-stated, the District will provide $25,000 life insurance for those employed as of July 1, 1991, and $20,000 life insurance for those employed after July 1, 1991.
AutoNDA by SimpleDocs
Amount of Life Insurance. The amount of life insurance is the Benefit Amount shown in the Schedule according to the insurance classification to which the Insured Employee belongs and, if applicable, the Additional Insurance protection chosen by the Insured Employee, taking into consideration the reductions in Benefit Amounts stipulated in the Schedule, if applicable.
Amount of Life Insurance. The amount of Life Insurance is the Benefit Amount shown in the Schedule according to the class of insurance to which the Insured Employee belongs and, if applicable, the Additional Insurance protection chosen by the Insured Employee. Reduction in Benefit Amounts will apply if stipulated in the Schedule. The amount of Life Insurance for a disabled Insured Employee whose coverage is extended under Section 5.1 Continuation of Coverage or Section 6 - Waiver of Premium is equal to the amount in force at the onset of his disability and is not changed while the coverage is extended under those sections except with regard to the reductions specified in the Schedule, if applicable.
Amount of Life Insurance. The amount of Life Insurance is the Benefit Amount shown in the Schedule according to the class of insurance to which the Insured Dependents belongs and, if applicable, the Additional Insurance protection chosen by the Insured Employee. Reduction in Benefit Amounts will apply if stipulated in the Schedule. The amount of life insurance for an Insured Dependent whose coverage is extended under Section 5.1 Continuation of Coverage or Section 6 - Waiver of Premium due to disability of the Insured Employee is equal to the amount in force at the onset of his disability and is not changed while the coverage is extended under those sections. Reduction in Benefit Amounts will apply if stipulated in the Schedule.
Amount of Life Insurance. The amount of Life Insurance is the Benefit Amount shown in the Schedule according to the class of insurance to which the Insured Employee belongs and, if applicable, the Additional Insurance protection chosen by the Insured Employee. Reduction in Benefit Amounts will apply if stipulated in the Schedule. The amount of life insurance for an Insured Person whose coverage is extended under Section 5.1 Continuation of Coverage or Section 6 - Waiver of Premium due to disability of the Insured Employee is equal to the amount in force at the onset of the Insured Employee’s disability and is not changed while the coverage is extended under those sections except with regard to the reductions specified in the Schedule, if applicable.
Amount of Life Insurance. Eligible employees as defined in Sections 32.1 and 32.2 may continue $5,000 of life insurance into retirement, which shall be paid by the University.

Related to Amount of Life Insurance

  • Term Life Insurance The Employer will maintain and make available to full-time and part-time employees, the current term life insurance plan as set forth in the document "Summary of Health Benefits, Maryland State Employees."

  • Single Premium Credit Life Insurance None of the proceeds of the Mortgage Loan were used to finance single-premium credit life insurance policies;

  • Life Insurance No portion of your IRA may be invested in life insurance contracts.

  • Group Life Insurance The Hospital shall contribute one hundred percent (100%) toward the monthly premium of HOOGLIP or other equivalent group life insurance plan in effect for eligible full-time employees in the active employ of the Hospital on the eligibility conditions set out in the existing Agreements.

  • Basic Life Insurance 37.1 The Employer shall pay one hundred percent (100%) of the monthly premium of the basic life insurance plan. 37.2 The basic life insurance plan shall provide: (a) Effective June 1, 2002, coverage equal to one hundred percent (100%) of annual salary or ten thousand dollars ($10,000), whichever is greater; (b) where an employee is continuously disabled for a period exceeding six (6) months, the Employer will continue to pay monthly premiums on behalf of the employee until the earliest of recovery, death, or the end of the month in which the employee reaches age sixty-five (65). Any premiums paid by the employee for this coverage between the date of disability and the date this provision comes into force shall be refunded to the employee; (c) a conversion option for terminating employees to be obtained without evidence of insurability and providing coverage up to the amount for which the employee was insured prior to termination (less the amount of coverage provided by the Employer in the case of retirement). The premium of such policy shall be at the current rates of the insuring company. Application must be made within thirty-one (31) days of the date of termination of insurance. The Employer will advise terminating employees of this conversion privilege. The minimum amount that may be converted is two thousand dollars ($2,000). The conversion options shall be: 1. Any standard life or endowment plans (without disability or double-indemnity benefits) issued by the insurance carrier. 2. A one (1) year term insurance plan which is convertible to the standard life or endowment plans referred to in option 1 above. 3. A term to age sixty-five (65) insurance plan. 37.3 The amount of basic life insurance will be adjusted with changes in the employee’s salary from the date of approval of the increase or the effective date, whichever is later. If an employee is absent from work because of sickness or disability on the date an increase in insurance would have occurred, the increase will not take effect until the employee returns to work on a full-time basis (i.e., for at least one (1) full day). 37.4 Basic life insurance will terminate at the end of the month in which an employee ceases to be a regular employee unless coverage is extended under the total disability provision. Employees who receive a monthly benefit from the Public Service Superannuation Fund or the OPSEU Pension Trust are entitled to free coverage of two thousand dollars ($2,000) not earlier than thirty-one (31) days after the first of the month coinciding with or following date of retirement and this amount will be kept in force for the remainder of the employee’s life.

  • Key Man Life Insurance The Company may apply for and obtain and maintain a key man life insurance policy in the name of Executive together with other executives of the Company in an amount deemed sufficient by the Board, the beneficiary of which shall be the Company. Executive shall submit to physical examinations and answer reasonable questions in connection with the application and, if obtained, the maintenance of, as may be required, such insurance policy.

  • Amount of Insurance Coverage shall be provided with a limit of not less than $1,000,000.

  • Split Dollar Life Insurance The Company shall pay to the Executive a lump sum equal to the cost on the Termination Date of purchasing, at standard independent insurance premium rates, an individual

  • Retiree Life Insurance Employees who retire under the Monroe County Employees' Retirement System shall be eligible for $4,000.00 term life insurance. All employees hired by the Employer on or after October 1, 2007 shall not be eligible for Retiree Life Insurance.

  • Life Insurance Coverage a. Forty Thousand ($40,000) Dollars life insurance policy with AD&D from an insurance carrier selected by the Board, subject to the provisions of this section. b. Employees who have Board-provided term life insurance shall have a thirty- one (31) day conversion right upon termination of employment. Any employee electing the right to conversion in order to keep term life insurance in force, must contact the insurance carrier within thirty-one (31) days of the last day of employment. c. The life insurance policy shall pay to the employee’s beneficiary the aforementioned sum within the underwriting rules and regulations as set forth by the insurance carrier.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!