Group Life and Accidental Death. and Dismemberment Effective October 1, 1999: Effective October 1, 2000 (a) The Employer shall provide a group life insurance plan. (b) The plan shall provide basic life insurance in the amount of twenty-five thousand dollars ($25,000) [effective October 1, 2002: fifty thousand dollars ($50,000)] and standard 24-hour accidental death and dismemberment insurance until age sixty-five (65). After the age of sixty-five (65), the amount of coverage shall decrease to twelve thousand, five hundred dollars ($12,500) [Effective October 1, 2002: twenty-five thousand dollars ($25,000)] until the age of seventy (70), at which time the group insurance coverage will cease. On termination of employment (excluding retirement) coverage shall continue without premium payment for a period of thirty-one (31) days during which time the conversion privilege may be exercised; that is, the individual covered may convert all or part of her group life insurance into any whole life, endowment or term life policy normally issued by the insurer and the insurer's standard rates at the time, without medical evidence. (c) The Employer shall pay one hundred percent (100%) of the premium.
Appears in 9 contracts
Samples: Collective Agreement, Collective Agreement, Collective Agreement
