Fixed Costs: Disability and Life Insurance. The Board will provide for income disability continuity coverage and life insurance the sum of $20.55 per month, $246.50 per year, for each full-time member of the bargaining unit.
Fixed Costs: Disability and Life Insurance Sample Clauses
Related to Fixed Costs: Disability and Life Insurance
Life Insurance Upon Retirement An employee who retires from the service with a Company pension at or after age 65 will be provided a $7,000.00 death benefit. If retirement on pension is earlier than age 65 and an employee's term life insurance is extended to age 65, the death benefit will be provided at age 65.
Dependent Life Insurance In the event of the death of your spouse or dependent child from any cause whatsoever, while you and your dependents are insured under the plan, the insurance company will pay you $10,000 in respect of your spouse and $5,000 in respect of each insured dependent child. This applies to those employees with family health coverage only.
Long Term Disability Insurance 250. The City, at its own cost, shall provide to employees a Long Term Disability (LTD) benefit that provides, after a one hundred and eighty (180) day elimination period, sixty percent salary (60%) (subject to integration) up to age sixty-five (65). Employees who are receiving or who are eligible to receive LTD shall be eligible to participate in the City's Catastrophic Illness Program as set forth in the ordinance governing such program.
Group Term Life Insurance The School District will pay the full premium for each $1,000 of coverage for group term life insurance for all full-time teachers who qualify for and enroll in the existing group term life insurance plan of the School District. Full-time teachers who qualify and enroll will be insured with $50,000 of group term life insurance.
