Life Insurance, Accidental Death and Dismemberment. 15.1.1.1 Any Employee not electing dependent coverage for the Major Medical Insurance will receive term insurance in an amount equal to twice his/her annual base salary rounded to the next higher thousand dollars. 15.1.1.2 All Employees shall be given the option of receiving either the amount of term insurance specified above or the maximum amount of life insurance he/she may receive without being required to include the premiums for such insurance as taxable income.
Appears in 4 contracts
Samples: Negotiated Contract, Negotiated Contract, Negotiated Contract
