Common use of Employee Purchased Life Insurance Clause in Contracts

Employee Purchased Life Insurance. The Employer will continue to make available an Optional Life Insurance Policy to each employee who is eligible for coverage under the Employer provided health insurance plan. The amount of the optional life insurance available for each employee to purchase will be an amount equal to the employee’s annual base income rounded to the next highest thousand. The maximum amount available will be $100,000.

Employee Purchased Life Insurance. The Employer will continue to make available an Optional Life Insurance Policy to each employee who is eligible for coverage under the Employer provided health insurance plan. The amount of the optional life insurance available for each employee to purchase will be an amount equal to the employee’s 's annual base income rounded to the next highest thousand. The maximum amount available will be $100,000.