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 times the employee's annual salary rounded to the next highest $1,000 to a maximum of $50,000 as described in the insurance policy provided by the District’s insurance carrier. Accidental death and dismemberment insurance will be provided for an additional amount equal to the face amount of the life insurance. Employees may purchase, at their expense, and at the then current group rate, supplemental term life and accidental dismemberment and disability (AD&D) insurance in an amount equal to the difference between the coverage provided by the District and three times the salary rounded to the next higher $1,000. Employee contributions shall be made by payroll deduction. Upon termination, an employee may elect to exercise conversion privileges as described in the insurance policy provided by the District’s insurance carrier.
Appears in 5 contracts
Samples: Negotiated Agreement, Negotiated Agreement, Negotiated Agreement
