Common use of Group Life Insurance Plan Clause in Contracts

Group Life Insurance Plan. A) Regular employees shall become members of the Group Life Insurance plan as a condition of employment. B) The plan shall provide basic life insurance in the amount of one hundred thousand dollars ($100,000.00) and standard twenty-four (24) hour accidental death and dismemberment insurance, up to and including age sixty-five (65). Thereafter, the amount of coverage shall decrease to fifty thousand dollars ($50,000.00). Group insurance coverage shall cease for employees at the age of seventy (70). Upon termination of employment, including 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 the employee's group life insurance to any whole life, endowment, or term life policy normally issued by the insurer and at the insurer's standard rates at the time, without medical evidence. C) The Employer shall pay one hundred per cent (100%) of the premium for the Group Life Insurance Plan.

Group Life Insurance Plan. A) Regular employees who are not in any other plan shall become members of the Group Life Insurance group life insurance plan as a condition of employment. B) The plan shall provide basic life insurance in the amount of one hundred thousand dollars ($100,000.00100,000) and standard twenty-four (24) hour accidental death and dismemberment insurance, up to and including age sixty-five (65). Thereafter, the amount of coverage shall decrease to fifty thousand dollars ($50,000.0050,000). Group insurance coverage shall cease for employees at the age of seventy (70). Upon termination of employment, including 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 the employee's ’s group life insurance to any whole life, endowment, or term life policy normally issued by the insurer and at the insurer's ’s standard rates at the time, without medical evidence. C) The Employer shall pay one hundred per cent percent (100%) of the monthly premium for the Group Life Insurance Plangroup life insurance plan.

Group Life Insurance Plan. ‌ A) Regular employees who are not in any other plan shall become members of the Group Life Insurance group life insurance plan as a condition of employment. B) The plan shall provide basic life insurance in the amount of one hundred thousand dollars ($100,000.00100,000) and standard twenty-four (24) hour accidental death and dismemberment insurance, up to and including age sixty-five (65). Thereafter, the amount of coverage shall decrease to fifty thousand dollars ($50,000.0050,000). Group insurance coverage shall cease for employees at the age of seventy (70). Upon termination of employment, including 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 the employee's ’s group life insurance to any whole life, endowment, or term life policy normally issued by the insurer and at the insurer's ’s standard rates at the time, without medical evidence. C) The Employer shall pay one hundred per cent percent (100%) of the monthly premium for the Group Life Insurance Plangroup life insurance plan.

Group Life Insurance Plan. A) Regular employees shall become members of the Group Life Insurance plan as a condition of employment. B) . The plan shall provide basic life insurance in the amount of one hundred thousand dollars ($100,000.00) and standard twenty-four (24) hour accidental death and dismemberment insurance, up to and including age sixty-five (65). Thereafter, the amount of coverage shall decrease to fifty thousand dollars ($50,000.00). Group insurance coverage shall cease for employees at the age of seventy (70). Upon termination of employment, including 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 the employee's group life insurance to any whole life, endowment, or term life policy normally issued by the insurer and at the insurer's standard rates at the time, without medical evidence. C) . The Employer shall pay one hundred per cent (100%) of the premium for the Group Life Insurance Plan.