BASIC LIFE PLAN Clause Samples

BASIC LIFE PLAN. 284 The University provides a Basic Employer Life Plan for regular full-time staff. The benefit is payable in the event of death. The benefit is an amount of coverage equal to the Employee's basic annual salary. The maximum benefit is $50,000. The University pays the entire cost of the coverage and no application is necessary. Coverage is automatic and effective the first day of employment.
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BASIC LIFE PLAN. 145 The Employer will provide, at no employee cost, a fully paid life plan to all regular full- time employees at the time of hire. -146 This program will provide a life insurance benefit in the case of death of an eligible employee on active duty status (including leaves of absence of 180 days or less) equal to one year's annual base salary or wage (i.e., basic hourly rate times 2080). -147 The employee may designate a beneficiary if desired; if none is designated the basic life insurance benefit payment will be made to the beneficiary under the Employee Paid Life Program if enrolled; otherwise payment will be made as defined by the life insurance contract.
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BASIC LIFE PLAN. 175 The Employer will provide, at no employee cost, a fully paid life plan to all regular full- time employees at the time of hire. -176 This program will provide a life benefit in the case of death of an eligible employee on active duty status (including unpaid leaves of absence for 180 days or less). The benefit provided is equal to one times the annual wage (i.e., the basic hourly rate times 2080) up to a fifty thousand-dollar ($50,000) maximum. Payment for leave accruals shall be made in accordance with MSU Policy. -177 The employee may designate a beneficiary if desired; if none is designated the life insurance benefit payment will be made to the beneficiary under the Employee-Paid Life Program if enrolled; otherwise payment will be made as defined by the life insurance contract.
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Related to BASIC LIFE PLAN

  • Group Life Insurance Plan Eligibility

  • Retirement Plan The 2.7% at 55 retirement plan will be available to eligible bargaining unit members covered by this Section 6.1.

  • 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

  • Group Term Life Insurance The Welfare Plan will include Group Term Life Insurance in accordance with the following Table of Hourly Job Rate Brackets and corresponding coverages. Benefits will be payable as a result of death from any cause on a twenty-four (24) hour coverage basis.

  • Group Insurance Plan The carriers, coverage, and terms and conditions of participation under the District’s Group Insurance Plan are subject to change in accordance with the applicable provisions of Title I, Division 4, Chapter 10 of the California Government Code (Section 3500 et seq.) (▇▇▇▇▇▇‐Milias‐▇▇▇▇▇ Act). a. The District contracts with CalPERS for health plan coverage for all regular and newly hired employees (eligibility to be defined by the “CalPERS health plan”). Booklets on the insurance plans will be available to all participants. b. Employees may choose from the available plans offered by CalPERS. Additional premiums will be borne by the employee through payroll deductions and paid to CalPERS by the District each month; and the additional cost for monthly premiums will be deducted evenly from the first and second payroll period of each month. To the extent allowed by law, the District will attempt to deduct the employee’s premium contribution from pre‐tax dollars.