Employee Life Insurance. The District shall provide on a fully paid basis, group term life insurance for each employee in an amount equal to three (3) times the employee's annual salary rounded to the next highest one thousand dollars ($1,000) payable to the employee's legal beneficiary, but in no event shall such insurance be less than five thousand dollars ($5,000) in accordance with the insurance policy between the District and its carrier. Accidental death or dismemberment insurance will be provided in an additional amount equal to the face amount of the life insurance. Upon termination, an employee may elect to exercise conversion privileges as stated in the District’s insurance policy.
Appears in 6 contracts
Samples: Negotiated Agreement, Negotiated Agreement, Collective Bargaining Agreement
