Common use of Compulsory Group Life and Accidental Death and Dismemberment Insurance Clause in Contracts

Compulsory Group Life and Accidental Death and Dismemberment Insurance. ‌ 7.16.1 Group Life Insurance and Accidental Death and Dismemberment Insurance coverage is provided in accordance with the terms of the contract between the College and the insurance carrier. 7.16.2 The following faculty members shall participate in the Group Life plan: • All regular faculty members shall be covered from the first day of the month coincident with or next following the faculty member’s date of employment. • All term faculty members who are employed half-time or more shall be covered from the beginning of the first complete calendar month following completion of 10 months of service within a consecutive 12 month period. 7.16.3 The College will pay 100% of the cost of monthly premiums for both Group Life Insurance and Accidental Death and Dismemberment Insurance. The Group Life Insurance plan provides a benefit level of 3 times the annual maximum salary of the faculty member. The Accidental Death and Dismemberment Insurance plan provides a benefit of up to 3 times the annual maximum salary of the faculty member. 7.16.4 Group Life Insurance coverage shall be reduced by 50% when a faculty member reaches age 66, and to $10,000 when a faculty member reaches age 70. Accidental Death and Dismemberment Insurance coverage shall be reduced by 50% when a faculty member reaches age 66, and shall end when a faculty member reaches age 70. 7.16.5 A faculty member who retires at or beyond the age of 55 years and who is in receipt of a pension under the provisions of the Public Sector Pension Plans Act shall continue to receive Group Life Insurance coverage in the amount of $10,000 for a period of 5 years from the date of retirement. The premium cost of the continuing insurance shall be borne by the College. 7.16.6 Term faculty members who are participating in the Group Life Insurance plan, and whose appointment drops to less than one-half time, may continue on the plan, on a cost-shared (50-50) basis, as long as they remain employed by the College. 7.16.7 Faculty members covered by Group Life Insurance as provided in this Article, may, at the time of termination of coverage, continue to receive coverage without medical proof of insurability, to the maximum benefit in effect at the time of termination of coverage. Arrangements must be made with the insurance company and faculty members are responsible for the payment of the entire premium cost, based on their age at the time of application. 7.16.8 The College will not reduce the benefit entitlements of the compulsory Group Life and Accidental Death and Dismemberment Insurance plan without the approval of the Association.