Common use of Basic Life Insurance Clause in Contracts

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.