Common use of Group Life Insurance Program Clause in Contracts

Group Life Insurance Program. (a) The Employer will pay 100% of the billed rate of premiums for Full Time Employees for Basic Coverage in accordance with the Group Life Insurance Plan which is in effect at October 1, 2019, and as may be amended. (b) Full Time Employees may elect to take additional coverage in accordance with the provisions and regulations governing optional coverage as specified in the Group Life Insurance Plan. (c) Participation in this Plan is a condition of employment. (d) Life insurance coverage will cease on the earlier of: i. the December 1st of the year the Employee reaches 69; or ii. for an Employee who is eligible for Post-Retirement Benefits, the first day of the month coincident with, or next following, the date of retirement, at which time coverage will convert to the retiree life insurance benefit, which is a $5000 lump sum policy.

Group Life Insurance Program. (a) The Employer will pay 100% of the billed rate of premiums for Full Time Employees for Basic Coverage in accordance with the Group Life Insurance Plan which is in effect at October 1, 20192023, and as may be amendedbeamended. (b) Full Time Employees may elect to take additional coverage in accordance with the provisions and regulations governing optional coverage as specified in the Group Life Insurance Plan. (c) Participation in this Plan is a condition of employment. (d) Life insurance coverage will cease on the earlier of: i. the December 1st of the year the Employee reaches 69; or ii. for an Employee who is eligible for Post-Retirement Benefits, the first day of the month coincident with, or next following, the date of retirement, at which time coverage will convert to the retiree life insurance benefit, which is a $5000 lump sum policy.

Group Life Insurance Program. (a) The Employer will pay 100% of the billed rate of premiums for Full Time Employees for Basic Coverage in accordance with the Group Life Insurance Plan which is in effect at October 1August 31, 20192015, and as may be amended. (b) Full Time Employees may elect to take additional coverage in accordance with the provisions and regulations governing optional coverage as specified in the Group Life Insurance Plan. (c) Participation in this Plan is a condition of employment. (d) Life insurance coverage will cease on the earlier of: i. the December 1st of the year the Employee employee reaches 69; or ii. for an Employee who is eligible for Post-Retirement Benefits, the first day of the month coincident with, or next following, the date of retirement, at which time coverage will convert to the retiree life insurance benefit, which is a $5000 lump sum policy.