Common use of Basic Life Insurance Clause in Contracts

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. (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/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 timepremiums.

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 their sixty-fifth (65th) birthday so that he/she is they are 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 timepremiums.

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/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. (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 ($5,000.005000.00); (ii) on October 1, coinciding with or next following date of retirement to four thousand five hundred dollars ($4,500.004500.00). 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.