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.
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.
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.
