G roup Life Insurance Sample Clauses

G roup Life Insurance. Every employee with six (6) months' service shall take Group Life Insurance, including Accidental Death and Dismemberment on the basis of two times (2X) her regular annual salary to the amount of the next lower multiple of five hundred dollars ($500) and a minimum coverage of fifteen thousand dollars ($15,000). The Employer shall contribute one hundred percent (100%) of the monthly premium cost of this insurance. No medical examination shall be required for Group Life Insurance. An employee who has joined the plan before the age of sixty-five (65) and who has reached the age of sixty-five (65) shall have the right within thirty-one (31) days to convert her Group Life Insurance to individual insurance at her own expense without a medical examination. This right shall also apply to an employee who is a member of the plan and leaves the employment of the Employer. The Employer shall keep coverage in place for a period of six (6) months for the plans listed in Articles 23.02 and 23.03 for an employee who has been laid off due to a shortage of work and is unemployed. The Employer shall provide a voluntary group life insurance plan with coverage of $10,000 for a spouse and $5,000 for a child. The plan's availability shall be subject to the approval of the carrier. All premiums shall be paid by the employees.
Sample 1
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G roup Life Insurance. (a) The Employer shall provide to all regular employees a mutually acceptable group life insurance plan with benefits equivalent to three times the employee's annual salary, with a minimum of $80,000. The Employer shall pay 100% of the premium on the base minimum as set out above, and the employee shall pay the premium for any insurance over the base minimum. Regular employees shall, as a condition of employment, enrol in the group life insurance plan and shall complete the appropriate payroll deduction authorization forms. (b) The group life plan shall include the following provisions for accidental dismemberment: (i) loss of both hands or feet - the principal sum (ii) loss of sight of both eyes - the principal sum (iii) loss of one hand and one foot - the principal sum (iv) loss of one hand or one foot, and sight of one eye - the principal sum (v) loss of one hand or one foot - one-half the principal sum (vi) loss of sight of one eye - one-half the principal sum
Sample 1
G roup Life Insurance. All eligible regular employees who have completed their probationary period shall, as a condition of employment, be covered under the terms and conditions of a group life insurance plan with benefits at two (2) times annual salary. The Board shall pay one hundred percent (100%) of the premium.
Sample 1
G roup Life Insurance a) The Board shall administer the Manitoba Public Schools Employees Group Life Insurance Plan according to the terms and conditions of the Master Policy of the said Plan and subject to the limitations set out in (d). b) All teachers shall be provided with the basic insurance of 200% of salary with premiums to be shared equally between the employee and the Board. Where teachers opt for additional levels of insurance coverage, the premiums associated with such additional coverage shall be borne exclusively by the teacher. c) All teachers coming on staff after the effective date of the implementation of the Plan in the Division shall be required to participate in the Plan by the Trustees of the Manitoba Public School Employees Group Life Insurance Plan. d) The Board’s responsibility with respect to the administration of this Plan shall be limited to the following: i) deducting premiums from the teachers; ii) enrolling newly hired teachers in the Plan; iii) maintaining records of the teachers who are and are not insured, including maintaining files of application cards, late applicants, teachers whose coverage was rejected on late application, beneficiary designations, and teachers whose coverage has terminated on leaving the Division; iv) completing a premium statement to accompany premium remittances; v) providing claim forms to teachers or beneficiaries on request;
Sample 1

Related to G roup Life Insurance

  • Group Life Insurance The Hospital shall contribute one hundred percent (100%) toward the monthly premium of HOOGLIP or other equivalent group life insurance plan in effect for eligible full-time employees in the active employ of the Hospital on the eligibility conditions set out in the existing Agreements.

  • Group Life Insurance Plan Eligibility

  • Life Insurance No portion of your IRA may be invested in life insurance contracts.

  • Retiree Life Insurance Employees who retire under the Monroe County Employees' Retirement System shall be eligible for $4,000.00 term life insurance. All employees hired by the Employer on or after October 1, 2007 shall not be eligible for Retiree Life Insurance.

  • Term Life Insurance The Employer will maintain and make available to full-time and part-time employees, the current term life insurance plan as set forth in the document "Summary of Health Benefits, Maryland State Employees."

  • Basic Life Insurance 37.1 The Employer shall pay one hundred percent (100%) of the monthly premium of the basic life insurance plan. 37.2 The basic life insurance plan shall provide: (a) Effective June 1, 2002, coverage equal to one hundred percent (100%) of annual salary or ten thousand dollars ($10,000), whichever is greater; (b) where an employee is continuously disabled for a period exceeding six (6) months, the Employer will continue to pay monthly premiums on behalf of the employee until the earliest of recovery, death, or the end of the month in which the employee reaches age sixty-five (65). Any premiums paid by the employee for this coverage between the date of disability and the date this provision comes into force shall be refunded to the employee; (c) a conversion option for terminating employees to be obtained without evidence of insurability and providing coverage up to the amount for which the employee was insured prior to termination (less the amount of coverage provided by the Employer in the case of retirement). The premium of such policy shall be at the current rates of the insuring company. Application must be made within thirty-one (31) days of the date of termination of insurance. The Employer will advise terminating employees of this conversion privilege. The minimum amount that may be converted is two thousand dollars ($2,000). The conversion options shall be: 1. Any standard life or endowment plans (without disability or double-indemnity benefits) issued by the insurance carrier. 2. A one (1) year term insurance plan which is convertible to the standard life or endowment plans referred to in option 1 above. 3. A term to age sixty-five (65) insurance plan. 37.3 The amount of basic life insurance will be adjusted with changes in the employee’s salary from the date of approval of the increase or the effective date, whichever is later. If an employee is absent from work because of sickness or disability on the date an increase in insurance would have occurred, the increase will not take effect until the employee returns to work on a full-time basis (i.e., for at least one (1) full day). 37.4 Basic life insurance will terminate at the end of the month in which an employee ceases to be a regular employee unless coverage is extended under the total disability provision. Employees who receive a monthly benefit from the Public Service Superannuation Fund or the OPSEU Pension Trust are entitled to free coverage of two thousand dollars ($2,000) not earlier than thirty-one (31) days after the first of the month coinciding with or following date of retirement and this amount will be kept in force for the remainder of the employee’s life.

  • 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.

  • Group Term Life Insurance The Welfare Plan will include Group Term Life Insurance in accordance with the following Table of Hourly Job Rate Brackets and corresponding coverages. Benefits will be payable as a result of death from any cause on a twenty-four (24) hour coverage basis.

  • Key Man Life Insurance The Company may apply for and obtain and maintain a key man life insurance policy in the name of Executive together with other executives of the Company in an amount deemed sufficient by the Board, the beneficiary of which shall be the Company. Executive shall submit to physical examinations and answer reasonable questions in connection with the application and, if obtained, the maintenance of, as may be required, such insurance policy.

  • Supplemental Life Insurance In addition to the life insurance benefits provided by this agreement, employees may subscribe voluntarily and at their own expense for supplemental life insurance. Employees may subscribe for an amount not to exceed five hundred thousand dollars ($500,000), of which one hundred thousand ($100,000) is a guaranteed issue, provided the election is made within the required enrollment periods.

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