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 t...
Basic Life Insurance. 33.1.1 The Basic Life Insurance Plan shall provide life insurance coverage equal to one hundred percent (100%) of the annual salary of the employee, and such coverage shall not be less than ten thousand dollars ($10,000) for a full-time employee and five thousand dollars ($5,000) for a part-time employee.
33.1.2 The premium for the Basic Life Insurance Plan coverage shall be paid by the Employer.
Basic Life Insurance. Insurance eligible employees are automatically enrolled for $20,000 (plus Accidental Death and Dismemberment $20,000) of District paid basic life insurance coverage. To have a named beneficiary, an enrollment beneficiary designation card must be on file with the District.
Basic Life Insurance. Insurance eligible employees are automatically enrolled for $75,000 of District paid life insurance coverage.
Basic Life Insurance. The District’s group life insurance plan includes coverage at two times (2X) the employee’s current annual base salary up to the insurers cap at no cost to the employee. The District will pay the cost of life insurance coverage for the employee only, under the plans available to all District employees, which may change from time‐to‐time thereafter.
Basic Life Insurance. The Executive may elect continuation of the amount of coverage previously provided and the Company shall be responsible for the cost of such coverage and shall submit payment for the Post Termination Benefit Period directly to the provider of such insurance. The Company may, at its sole discretion, provide such insurance through the same insurance provider at the time of Termination or through a different insurance provider having a comparable or superior A.M. Best rating. The Executive shall, to the extent required by a prospective insurance provider, i) furnish such information, ii) complete and submit such applications and other documentation, and iii) submit to a reasonable and customary physical examination to enable the Company to obtain pricing quotes and to bind coverage for such insurance through a different insurance provider.
Basic Life Insurance. Basic life insurance coverage will be equal to one times the employee’s annual salary or $30,000 whichever is greater. Coverage is contingent upon employee contribution of $12.00 per year. The Board's pro-rated contribution shall be made on the first day of the month following the first sixty (60) days of the probationary period. Life Insurance will be effective the first day of the month following sixty (60) days of employment.
Basic Life Insurance. Insurance eligible Educational Support Professionals are automatically enrolled for $45,000 (plus Accidental Death and Dismemberment $20,000) of District paid basic life insurance coverage. To have a named beneficiary, an enrollment beneficiary designation card must be on file with the District.
Basic Life Insurance. (a) The Employer shall provide life insurance to each active employee in the amount of one hundred percent (100%) of salary or twenty thousand dollars ($20,000.00), whichever is greater.
(b) Upon retirement under the OPSEU Pension Plan Text, Basic Life Insurance shall be provided at no cost, for those eligible, but reduced as follows:
(i) at the first of the month coinciding with or next following date of retirement to five thousand dollars ($5,000.00);
(ii) on October 1, coinciding with or next following date of retirement to four thousand five hundred dollars ($4,500.00). This amount will continue for the remainder of life.
(c) If any employee becomes totally disabled before his/her sixty-fifth (65th) birthday so that he/she is unable to perform any work for a continuous period of at least nine (9) months, the Basic Life Insurance will be kept in force without cost to the employee as long as the total disability continues subject to reductions at age sixty-five (65) described above.
(d) Conversion privileges to standard life and term insurance of the insurer are available upon leaving the employ of the Employer.
(e) The Employer shall pay one hundred percent (100%) of the premiums as may be amended from time to time.
Basic Life Insurance. The Employer pays the total premium cost to provide all Regular Nurses and eligible Relief Nurses as specified in Section 14.12.5 with one (1) times annual salary to a maximum of Fifty Thousand Dollars ($50,000.00) of Group Life Insurance. If the Nurse enrolls at the time of hire or when newly eligible, coverage becomes effective on the first (1st) day of the month following that date.
