Common use of Life and Disability Insurance Clause in Contracts

Life and Disability Insurance. The Employer will pay the full insurance policy premium for each regular full time employee (as defined in Article lIl) to provide a group insurance package consisting of (1) $30,000 individual life insurance ($50,000 individual life insurance for security personnel), and (2) an individual long term disability program. The individual long term disability coverage will become effective fifteen days after accumulated medically related disability leave, emergency leave, and vacation allowance expire and will provide at a rate of 60% of the employee’s salary at the date of disability. Employee coverage for employees under age 61 for disability due to illness shall in no case extend beyond the age of 65. Employee coverage for those employees under age 61 for disability due to accident shall in no case extend beyond the age of 65. Employee benefit payment period for employees over age 60 for disability due to accident or illness will in no case extend beyond the benefit payment period stated below: Age (at disability) Maximum Benefit Payment Period (following disability qualification period) Age 60 and under Benefit period as described above 61 To age 65, but not less than 3 yrs, 6 mos 62 3 yrs, 6 mos 63 3 yrs 64 2 yrs, 6 mos 65 2 yrs 66 1 yr, 9 mos 67 1 yr, 6 mos 68 1 yr, 3 mos 69 1 yr

Life and Disability Insurance. The Employer will pay the full insurance policy premium for each regular full time employee (as defined in Article lIl) to provide a group insurance package consisting of (1) $30,000 individual life insurance ($50,000 individual life insurance for security personnel), and (2) an individual long term disability program. The individual long term disability coverage will become effective fifteen days after accumulated medically related disability leave, emergency leave, and vacation allowance expire and will provide at a rate of 60% of the employee’s salary at the date of disability. Employee coverage for employees under age 61 for disability due to illness shall in no case extend beyond the age of 65. Employee coverage for those employees under age 61 for disability due to accident shall in no case extend beyond the age of 65. Employee benefit payment period for employees over age 60 for disability due to accident or illness will in no case extend beyond the benefit payment period stated below: Age (at disability) Maximum Benefit Payment Period (following disability qualification period) Age 60 and under Benefit period as described above 61 To age 65, but not less than 3 yrs, 6 mos 62 3 yrs, 6 mos 63 3 yrs 64 2 yrs, 6 mos 65 2 yrs 66 1 yr, 9 mos 67 1 yr, 6 mos 68 1 yr, 3 mos 69 1 yr

Life and Disability Insurance. The Employer will pay the full insurance policy premium for each regular full time employee (as defined in Article lIl) to provide a group insurance package consisting of (1) $30,000 individual life insurance ($50,000 individual life insurance for security personnel), and (2) an individual long term disability program. The individual long term disability coverage will become effective fifteen days after accumulated medically related disability leave, emergency leave, and vacation allowance expire and will provide at a rate of 60% of the employee’s salary at the date of disability. Employee coverage for employees under age 61 for disability due to illness shall in no case extend beyond the age of 65. Employee coverage for those employees under age 61 for disability due to accident shall in no case extend beyond the age of 65. Employee benefit payment period for employees over age 60 for disability due to accident or illness will in no case extend beyond the benefit payment period stated below: Age (at disability) Maximum Benefit Payment Period (following disability qualification period) Age 60 and under Benefit period as described above 61 To age 65, but not less than 3 yrs, 6 mos 62 3 yrs, 6 mos 63 3 yrs 64 2 yrs, 6 mos 65 2 yrs 66 1 yr, 9 mos 67 1 yr, 6 mos 68 1 yr, 3 mos 69 1 yr