Common use of Income Protection Insurance Clause in Contracts

Income Protection Insurance. 19.1 The Company shall pay full wages including normal penalties, loadings and allowances for all time an employee is unable to attend work due to accident, illness or injury. 19.2 However, the Company will not have to comply with 21.1 as long as the Company provides and maintains income protection insurance for sickness and accident for all employees covered by this Agreement. Such income protection insurance must be obtained by the Company through a provider agreed between the parties although the Company shall not be required to contribute greater than 2.2% of payroll (including tax) for such insurance during the life of this Agreement. 19.3 The Company shall effect the necessary insurance with an income protection insurance provider within 7 days of the with income protection insurance provider being agreed or determined. 19.4 The Company shall pay employees their benefits under this clause weekly. If an income protection insurance provider is used, benefits must commence as soon as the income protection insurance provider approves the claim.

Income Protection Insurance. 19.1 18.1 The Company shall pay full wages including normal penalties, loadings and allowances for all time an employee is unable to attend work due to accident, illness or injury. 19.2 18.2 However, the Company will not have to comply with 21.1 as long as the Company provides and maintains income protection insurance for sickness and accident for all employees covered by this Agreement. Such income protection insurance must be obtained by the Company through a provider agreed between the parties although the Company shall not be required to contribute greater than 2.2% of payroll (including tax) for such insurance during the life of this Agreement. 19.3 18.3 The Company shall effect the necessary insurance with an income protection insurance provider within 7 days of the with income protection insurance provider being agreed or determined. 19.4 18.4 The Company shall pay employees their benefits under this clause weekly. If an income protection insurance provider is used, benefits must commence as soon as the income protection insurance provider approves the claim.