INCOME INSURANCE. To provide make up pay for any absence without pay due to the incapacitation of the Employee, the Employer will contribute an “Additional Employer’s Contribution” amount as outlined below (or such other amount as determined by the provider) per week to provide Income Insurance on the following basis:
(a) The amount will not be paid directly to the Employee;
(b) The level of insurance will be sufficient to ensure that each Employee can access the maximum benefit available to them, based on their individual gross income (that is, their total income including overtime and allowances, excluding Living Away from Home Allowance) and paid to them after a maximum 14 day waiting period;
(c) The premium will only be paid into Income Protection as administered by Windsor Income Protection, monthly, in alignment with superannuation payments. Income Insurance Premiums will be paid by the Employer, as Additional Employer Contributions to Windsor Income Protection, in accordance with the Group Personal Accident & Sickness Policy for ESI Contractors. Units Cost Benefit Units Cost Benefit Units Cost Benefit Units Cost Benefit Units Cost Benefit 10 $ 18.00 $ 1,154.00 10 $ 18.90 $ 1,154.00 10 $ 19.80 $ 1,200.00 10 $ 20.50 $ 1,250.00 10 $ 21.10 $ 1,300.00 11 $ 19.80 $ 1,269.40 11 $ 20.79 $ 1,269.40 11 $ 21.78 $ 1,320.00 11 $ 22.55 $ 1,375.00 11 $ 23.21 $ 1,430.00 12 $ 21.60 $ 1,384.80 12 $ 22.68 $ 1,384.80 12 $ 23.76 $ 1,440.00 12 $ 24.60 $ 1,500.00 12 $ 25.32 $ 1,560.00 13 $ 23.40 $ 1,500.20 13 $ 24.57 $ 1,500.20 13 $ 25.74 $ 1,560.00 13 $ 26.65 $ 1,625.00 13 $ 27.43 $ 1,690.00 14 $ 25.20 $ 1,615.60 14 $ 26.46 $ 1,615.60 14 $ 27.72 $ 1,680.00 14 $ 28.70 $ 1,750.00 14 $ 29.54 $ 1,820.00 15 $ 27.00 $ 1,731.00 15 $ 28.35 $ 1,731.00 15 $ 29.70 $ 1,800.00 15 $ 30.75 $ 1,875.00 15 $ 31.65 $ 1,950.00 16 $ 28.80 $ 1,846.40 16 $ 30.24 $ 1,846.40 16 $ 31.68 $ 1,920.00 16 $ 32.80 $ 2,000.00 16 $ 33.76 $ 2,080.00 17 $ 30.60 $ 1,961.80 17 $ 32.13 $ 1,961.80 17 $ 33.66 $ 2,040.00 17 $ 34.85 $ 2,125.00 17 $ 35.87 $ 2,210.00 18 $ 32.40 $ 2,077.20 18 $ 34.02 $ 2,077.20 18 $ 35.64 $ 2,160.00 18 $ 36.90 $ 2,250.00 18 $ 37.98 $ 2,340.00 19 $ 34.20 $ 2,192.60 19 $ 35.91 $ 2,192.60 19 $ 37.62 $ 2,280.00 19 $ 38.95 $ 2,375.00 19 $ 40.09 $ 2,470.00 20 $ 36.00 $ 2,308.00 20 $ 37.80 $ 2,308.00 20 $ 39.60 $ 2,400.00 20 $ 41.00 $ 2,500.00 20 $ 42.20 $ 2,600.00 21 $ 37.80 $ 2,423.40 21 $ 39.69 $ 2,423.40 21 $ 41.58 $ 2,520.00 21 $ 43.05 $ 2,625.00 21 $ 44.31 $ 2,730.00 22 $ 39.60 $ 2,538.80 22 $ 41.58 $...
INCOME INSURANCE. 1. The District will provide Long Term Disability Insurance covering 66 2/3% monthly salary to a maximum of $2,000.00. This coverage will be for up to two (2) years sickness-related disabilities and up to five (5) years accident-related disabilities.
2. The Board further agrees to provide the opportunity for the Employee to purchase supplemental income insurance, consistent with the limits established in this subsection. If the Employee desires additional coverage, the Employee shall pay the premium cost through payroll deduction.
INCOME INSURANCE. 1. The District will provide Long Term Disability Insurance covering 66 2/3% monthly salary to a maximum of $2,000.00. This coverage will be for up to two (2) years sickness-related disabilities and up to five (5) years accident-related disabilities.
2. The Board further agrees to provide the opportunity for the Employee to purchase supplemental income insurance, consistent with the limits established in this subsection. If the Employee desires additional coverage, the Employee shall pay the premium cost through payroll deduction.
3. In addition, in the event an employee is off with this Long Term Disability Insurance, said time up to one (1) year shall be credited as a paid leave of absence for retirement purposes.
INCOME INSURANCE. All members of SPEC Q receive income protection insurance as an additional benefit.
INCOME INSURANCE. The Employer will maintain income protection insurance (sickness and injury) for Employees covered by this Agreement. The following fund will be used for the purposes of the provision of Income Protection insurance:
INCOME INSURANCE. The company will contribute to SPEC to provide Income Insurance on the basis of :
a) the amount will not be paid directly to the employee;
b) the premium will only be paid into the SPEC (Q) administered scheme.
c) The employer will not be required to pay into the fund any additional payments for any additional purpose. The premium will be paid from the commencement of the first pay period on or after the date the agreement is lodged, or the date the nominated fund is established and capable of accepting premiums.
INCOME INSURANCE. To provide make up pay for any absence without pay due to the incapacitation of the Employee, the Company will contribute an amount equivalent to 13.5% of the Superannuation Guarantee legislation obligation (i.e. 9% of the Employee's ordinary weekly earnings as defined in this Agreement per week to provide Income Insurance on the basis:
(a) the amount will not be paid directly to the Employee;
(b) the premium will be paid into Electro Safe Protection (Income Protection for Electrical Workers) as administered by SPEC Q or such other fund as may be agreed between the Company and Employees At the Employee's discretion, additional available benefits may be purchased from the nominated fund either directly by the Employee or by utilising the Salary Sacrifice provisions as agreed to by the parties. The Company will not be required to pay into the fund any additional payments for any additional purpose.
INCOME INSURANCE. To provide make up pay for any absence without pay due to the incapacitation of the employee, the Company will contribute an amount equivalent to 13.5% of the Superannuation Guarantee legislation obligation (i.e. 9% of the employee's ordinary weekly earnings as defined in the Award) per week to provide Income Insurance on the basis:
(a) the amount will not be paid directly to the employee;
(b) the premium will only be paid into Electro Safe Protection (Income Protection for Electrical Workers) as administered by SPEC Q. As an example (as at certification) for an employee electrical worker grade 5 (Commercial Construction), the calculation is $970.80 x 9% x 13.5% = $11.80 per week.” At the employee's discretion, additional available benefits may be purchased from the nominated fund either directly by the employee or by utilising the Salary Sacrifice provisions as agreed to by the parties. The employer will not be required to pay into the fund any additional payments for any additional purpose.
INCOME INSURANCE. To provide make up pay for any absence without pay due to the incapacitation of the employee, the Company will contribute an amount equivalent to 13.5% of the Superannuation Guarantee legislation obligation (i.e. 9% of the employee's ordinary weekly earnings as defined in the Award) per week to provide Income Insurance on the basis:
(a) the amount will not be paid directly to the employee;
(b) the premium will only be paid into SPEC Q. At the employee's discretion, additional available benefits may be purchased from the nominated fund either directly by the employee or by utilising the Salary Sacrifice provisions as agreed to by the parties.
INCOME INSURANCE. “The Employer” will contribute a premium of a minimum 13.5% of SGL/week to provide Income Insurance on the basis of: -
(a) the amount will not be paid directly to “the Employee”;
(b) If “the Employee” is a member of SPECQ Superannuation, payment will be made into “the Employee’s” SPECQ Superannuation account;
(c) If “the Employee” is not a member of SPECQ, the required premium will be paid into the Australian Income Protection (ETUQ) Fund. It is the parties preferred option that Employees become and remain members of SPECQ. At “the Employee’s” discretion, additional available benefits may be purchased from the fund from either directly by “the Employee”. The premium will be paid from the commencement of the first pay period on or after the later of the date “The Agreement” is made or the date the nominated fund is established and capable of accepting premiums. Whilst the intention is that Spec Q will provide this benefit, the parties will consult and may review the provider should alternative providers supply a superior product. There will however be no change unless agreement is reached between the parties to” “The Agreement””.
