Group Term Life Insurance Plan Sample Clauses

Group Term Life Insurance Plan. (1) The Board shall provide group term life insurance equal to two times the annual earnings taken to the next higher $1,000. and spouse coverage of $18,000. prorated to the percentage of teaching time. The Board shall pay 100% of the premium. Teachers will have the option to purchase additional coverage to three (3) times salary at the Board Premium rate and at the teacher’s expense, subject to insurability by the carrier. (2) Participation in this insurance plan shall be mandatory for all Teachers covered by this agreement.
Sample 1Sample 2Sample 3See All (7)
AutoNDA by SimpleDocs
Group Term Life Insurance Plan. (1) The Board shall provide group term life insurance equal to two (2) times the annual salary taken to the next higher $ 1,000, pro-rated to the percentage of teaching time. In addition, the Board shall provide spousal term life insurance coverage of $18,000. The Board shall pay 100% of the group life and the spousal insurance premiums. Participation in this insurance plan shall be mandatory for all Teachers covered by this agreement. (2) Teachers will have the option to purchase additional coverage (Optional Life Insurance) equivalent to one (1) time the annual salary taken to the next higher $1,000 at the Board's premium rate. Coverage is subject to insurability by the carrier. This additional coverage will be 100% at the teacher's expense. (3) For Life Insurance coverage purposes, annual salary includes allowances as per clause 11.08 (1) Program Leader, clause 11.08 (2) Coordinator/Consultant, clause 15.16 Trial Administrative Assignment and the additional President's allowance outlined in clause 12.05 (3).
Sample 1Sample 2
Group Term Life Insurance Plan. (1) The Board shall provide group term life insurance equal to two (2) times the annual salary taken to the next higher $1,000. In addition, the Board shall provide spousal coverage of $12,000. All coverage will be prorated to the percentage of teaching time. The Board shall pay 50% of the group life and the spousal insurance premiums. Participation in this insurance plan shall be mandatory for all Teachers covered by this agreement. (2) Teachers will have the option to purchase additional coverage (Optional Life Insurance) equivalent to one (1) time the annual salary taken to next higher $1,000 at the Board's premium rate. Coverage is subject to insurability by the carrier. This additional coverage will be 100% at the teacher's expense.
Sample 1
Group Term Life Insurance Plan. Shall be in accordance with Part A, Central Terms, Article 7 Letter of Agreement #5 and Letter of Agreement #13 of this Collective Agreement.
Sample 1

Related to Group Term Life Insurance Plan

  • 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.

  • Group Life Insurance Plan Eligibility

  • Group Insurance Plan The carriers, coverage, and terms and conditions of participation under the District’s Group Insurance Plan are subject to change in accordance with the applicable provisions of Title I, Division 4, Chapter 10 of the California Government Code (Section 3500 et seq.) (Xxxxxx‐Milias‐Xxxxx Act). a. The District contracts with CalPERS for health plan coverage for all regular and newly hired employees (eligibility to be defined by the “CalPERS health plan”). Booklets on the insurance plans will be available to all participants. b. Employees may choose from the available plans offered by CalPERS. Additional premiums will be borne by the employee through payroll deductions and paid to CalPERS by the District each month; and the additional cost for monthly premiums will be deducted evenly from the first and second payroll period of each month. To the extent allowed by law, the District will attempt to deduct the employee’s premium contribution from pre‐tax dollars.

  • Insurance Plan 19.01 The Employer agrees to contribute the indicated percentage of the premium cost of the following group plans for full-time employees (and their families where applicable) who have completed their probationary period.

  • 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.

  • 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."

  • Long Term Disability Insurance Plan The Employer shall provide a mutually acceptable long-term disability insurance plan, a copy of which shall appear in Appendix “A” – Long-Term Disability Insurance Plan. The plan shall provide post-probationary regular employees with salary continuation as per Appendix “A” until age sixty-five (65) in the event of a disability. The cost of the plan shall be borne by the Employer.

  • Insurance Plans The Executive is eligible to participate in the life, health, dental, short and long-term disability plans made available to the employees of the Company pursuant to the terms and conditions of such plans.

  • 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.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!