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Common use of Basic Life Clause in Contracts

Basic Life. 32.9.1 The Employer shall pay one hundred percent (100%) of the monthly premium of the Basic Life plan. 32.9.2 The Basic Life Insurance Plan shall provide: (a) coverage of ten thousand dollars ($10,000) during the period of employment, (b) a conversion option on termination of insurance coverage may be exercised 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.

Appears in 7 contracts

Samples: Collective Agreement, Collective Agreement, Collective Agreement

Basic Life. 32.9.1 The Employer shall pay one hundred percent (100%) of the monthly premium of the Basic Life plan. 32.9.2 The Basic Life Insurance Plan shall provide: (a) coverage of ten five thousand dollars ($10,0005,000) during the period of employment, (b) a conversion option on termination of insurance coverage may be exercised 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- 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.

Appears in 4 contracts

Samples: Collective Agreement, Collective Agreement, Collective Agreement

Basic Life. 32.9.1 The Employer shall pay one hundred percent (100%) of the monthly premium of the Basic Life plan. 32.9.2 The Basic Life Insurance Plan shall provide: (a) coverage of ten five thousand dollars ($10,000$ 5,000) during the period of employment, (b) a conversion option on termination of insurance coverage may be exercised 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 m inim um 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- 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.

Appears in 3 contracts

Samples: Collective Agreement, Collective Agreement, Collective Agreement

Basic Life. 32.9.1 The Employer shall pay one hundred percent (100%) of the monthly premium of the Basic Life plan. 32.9.2 The Basic Life Insurance Plan shall provide: (a) coverage of ten five thousand dollars ($10,0005,000) during the period of employment, (b) a conversion option on termination of insurance coverage may be exercised 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). 2,000).‌ The conversion options shall be: 1. Any standard life or endowment plans (without disability or double- indemnity benefitsbenefits) 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.

Appears in 2 contracts

Samples: Collective Agreement, Collective Agreement

Basic Life. 32.9.1 The Employer shall pay one hundred percent (100%) of the monthly premium of the Basic Life plan. 32.9.2 The Basic Life Insurance Plan shall provide: (a) coverage of ten five thousand dollars ($10,000$ 5,000) during the period of employment, (b) a conversion option on termination of insurance coverage may be exercised 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- 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.

Appears in 2 contracts

Samples: Collective Agreement, Collective Agreement

Basic Life. 32.9.1 The Employer shall pay one hundred percent (100%) of the monthly premium of the Basic Life plan. 32.9.2 The Basic Life Insurance Plan shall provide: (a) coverage of ten five thousand dollars ($10,0005,000) during the period of employment, (b) a conversion option on termination of insurance coverage may be exercised 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.

Appears in 2 contracts

Samples: Collective Agreement, Collective Agreement

Basic Life. 32.9.1 The Employer shall pay one hundred percent (100%) of the monthly premium of the Basic Life plan. 32.9.2 The Basic Life Insurance Plan shall provide: (a) coverage of ten five thousand dollars ($10,0005,000) during the period of employment, (b) a conversion option on termination of insurance coverage may be exercised 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- 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.

Appears in 1 contract

Samples: Collective Agreement