LIFE INSURANCE AND A Sample Clauses

LIFE INSURANCE AND A. D. & D. - Each employee will be covered as follows: a) Two (2) times the employee's annual basic wages to a maximum of eighty thousand dollars ($80,000). b) In addition to Article 18.01 a), in case of accidental death and dismemberment, two (2) times the employee's annual basic wage to a maximum of the applicable amount above that is in effect at the time of the accidental death and dismemberment. c) The legal spouse of each employee shall be covered for life insurance in the amount of fifteen thousand dollars ($15,000), and each legitimate child shall be covered for life insurance in the amount of seven thousand five hundred dollars ($7,500). d) The insurance policy shall contain a premium waiver in cases of permanent total disability.
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LIFE INSURANCE AND A. D. & D. 2.01 Each employee upon completion of his/her probationary period will be insured for group life insurance according to the schedule set out below which will provide for the payment of a death benefit under the terms and conditions ordinarily found in a group life insurance policy issued in the Province of Ontario. The effective coverage for this agreement is thirty seven thousand dollars ($37,000.00). 2.02 The policy of group life insurance shall provide that a person within thirty one (31) days after his/her life insurance ceases because of termination of employment for any reason, shall have the privilege of obtaining, without medical examination, an individual policy of life insurance of a class and under the conditions specified by the insurer in the individual's certificate of insurance. 2.03 The policy of group life insurance shall provide that if an (A) Each employee will be insured under terms of accidental death and dismemberment insurance for an additional amount equal to his/her life insurance coverage defined in Section 2.01. The sum will be payable in the case of death or loss of both hands, or loss of both feet, or sight of both eyes or any two (2) of those members when such loss occurs within three hundred and sixty five (365) days of the date of the accident. Payment of one-half of the principal sum will be provided for in the case of loss of one (1) hand, one (1) foot or the sight of one (1) eye, under the same conditions. The contract will contain such limitations and conditions as are provided for insurance contracts of this type by Insurance Act, R.S.O. 1980 Chap. 218. (B) Accidental Death and Dismemberment and Benefits - If injury shall, within three hundred and sixty five (365) days of the date of the accident causing such injury, result in any of the following losses, the Insurance Company will pay for loss of or permanent and total loss of use of the following. The loss of life, both hands, both feet, entire sight of both eyes, one (1) hand and one (1) foot, one (1) hand and the entire sight of one
Sample 1Sample 2
LIFE INSURANCE AND A. D. & D. 2.01 Each employee upon completion of his probationary period will be insured for group life insurance according to the schedule set out below which will provide for the payment of a death benefit under the terms and conditions ordinarily found in a group life insurance policy issued in the Province of Ontario. The effective coverage for October 1, 2006 is $33,000 increasing to $34,000, effective October 1, 2007 increasing to $35,000, effective October 1, 2008. 2.02 The policy of group life insurance shall provide that a person within 31 days after their life insurance ceases because of termination of employment for any reason, shall have the privilege of obtaining, without medical examination, an individual policy of life insurance of a class and under the conditions specified by the insurer in the individual's certificate of insurance. 2.03 The policy of group life insurance shall provide that if an employee becomes totally disabled before attaining the age of 65 years, his life insurance will be extended, without payment of premium during the continuance of such total disability, subject to his satisfying the insurer of the continuance of disability in the manner prescribed in the certificate of insurance. 2.04 Each employee will be insured under terms of accidental death and dismemberment insurance for an additional amount equal to their life (a) Accidental Death and Dismemberment Benefits - If injury shall, within 365 days of the date of the accident causing such injury, result in any of the following losses, the Insurance Company will pay for loss of or permanent and total use of the following. The loss of life, both hands, both feet, entire sight of both eyes, one hand and one foot, one hand and the entire sight of one eye, one foot and the entire sight of one eye, or speech and hearing shall pay by the principal sum. The loss of one arm or one leg shall pay three quarters of the principal sum. The loss of one hand, one foot or the entire sight of one eye shall pay two thirds of the principal sum. The loss of speech or hearing shall pay one half of the principal sum. The loss of four fingers of either hand shall pay one quarter of the principal sum. The loss of all toes of one foot shall pay one eighth of the principal sum. The loss of thumb and index finger of either hand shall pay one third of the principal sum. The loss of hearing in one ear shall pay one sixth of the principal sum. Quadriplegia (paralysis of both upper and lower limbs), ...
Sample 1
LIFE INSURANCE AND A. D. & D. 2.01 Each employee upon completion of his/her probationary 2.02 The policy of group life insurance shall provide that a person within 31 days after his/her life insurance ceases because of termination of employment for any reason, shall have the privilege of obtaining, without medical examination, an individual policy of life insurance of a class and under the conditions specified by the insurer in the individual's certificate of insurance. 2.03 The policy of group life insurance shall provide that if an employee becomes totally disabled before attaining the age of 65 years, his/her life insurance will be extended, without payment of premium during the continuance of such total disability, subject to his/her satisfying the insurer of the continuance of disability in the manner prescribed in the certificate of insurance. (A) Each employee will be insured under terms of accidental death and dismemberment insurance for an additional amount equal to his/her life insurance coverage defined in Section 2.01. The sum will be payable in the case of death or loss of both hands, or loss of both feet, or sight of both eyes or any two of those members when such loss occurs within 365 days of the date of the accident. Payment of one-half of the principal sum will be provided for in the case of loss of one hand, one foot or the sight of one eye, under the same conditions. The contract will contain such limitations and conditions as are provided for insurance contracts of this type by Insurance Act, R.S.O. 1980 Chap. 218. (B) Accidental Death and Dismemberment and Benefits - If injury shall, within 365 days of the date of the accident causing such injury, result in any of the following losses, the Insurance Company will pay for loss of or permanent and total loss of use of the following. The loss of life, both hands, both feet, entire sight of both eyes, one hand and one foot, one hand and the entire sight of one eye, one foot and the entire sight of one
Sample 1
LIFE INSURANCE AND A. D. & D. 2.01 Each employee upon completion of his/her probationary period will be insured for group life insurance according to the schedule set out below which will provide for the payment of a death benefit under the terms and conditions ordinarily found in a group life insurance policy issued in the Province of Ontario. The effective coverage for this agreement is thirty seven thousand dollars ($37,000.00). 2.02 The policy of group life insurance shall provide that a person within thirty one (31) days after his/her life insurance ceases because of termination of employment for any reason, shall have the privilege of obtaining, without medical examination, an individual policy of life insurance of a class and under the conditions specified by the insurer in the individual's certificate of insurance. 2.03 The policy of group life insurance shall provide that if an employee becomes totally disabled before attaining the age of sixty seven (67) years, his/her life insurance will be extended, without payment of premium during the continuance of such total disability, subject to his/her satisfying the insurer of the continuance of disability in the manner prescribed in the certificate of insurance. (A) Each employee will be insured under terms of accidental death and dismemberment insurance for an additional amount equal to his/her life insurance coverage defined in Section 2.01. The sum will be payable in the case of death or loss of both hands or loss of both feet or sight of both eyes or any two (2) of those members when such loss occurs within three hundred and sixty five (1) hand, one (1) foot or the sight of one (1) eye, under the same conditions. The contract will contain such limitations and conditions as are provided for insurance contracts of this type by Insurance Act, R.S.O. 1980 Chap. 218. (B) Accidental Death and Dismemberment and Benefits - If injury shall, within three hundred and sixty five (365) days of the date of the accident causing such injury, result in any of the following losses, the Insurance Company will pay for loss of or permanent and total loss of use of the following. The loss of life, both hands, both feet, entire sight of both eyes, one (1) hand and one (1) foot, one (1) hand and the entire sight of one (1) eye, one (1) foot and the entire sight of one (1) eye or speech and hearing shall pay by the principle sum. The loss of one (1) arm or one (1) leg shall pay three quarters of the principle sum. The loss of one (1) hand, one ...
Sample 1

Related to LIFE INSURANCE AND A

  • Life Insurance No portion of your IRA may be invested in life insurance contracts.

  • 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."

  • Basic Life Insurance 37.1 The Employer shall pay one hundred percent (100%) of the monthly premium of the basic life insurance plan. 37.2 The basic life insurance plan shall provide: (a) Effective June 1, 2002, coverage equal to one hundred percent (100%) of annual salary or ten thousand dollars ($10,000), whichever is greater; (b) where an employee is continuously disabled for a period exceeding six (6) months, the Employer will continue to pay monthly premiums on behalf of the employee until the earliest of recovery, death, or the end of the month in which the employee reaches age sixty-five (65). Any premiums paid by the employee for this coverage between the date of disability and the date this provision comes into force shall be refunded to the employee; (c) a conversion option for terminating employees to be obtained without evidence of insurability and providing coverage up to the amount for which the employee was insured prior to termination (less the amount of coverage provided by the Employer in the case of retirement). The premium of such policy shall be at the current rates of the insuring company. Application must be made within thirty-one (31) days of the date of termination of insurance. The Employer will advise terminating employees of this conversion privilege. The minimum amount that may be converted is two thousand dollars ($2,000). The conversion options shall be: 1. Any standard life or endowment plans (without disability or double-indemnity benefits) issued by the insurance carrier. 2. A one (1) year term insurance plan which is convertible to the standard life or endowment plans referred to in option 1 above. 3. A term to age sixty-five (65) insurance plan. 37.3 The amount of basic life insurance will be adjusted with changes in the employee’s salary from the date of approval of the increase or the effective date, whichever is later. If an employee is absent from work because of sickness or disability on the date an increase in insurance would have occurred, the increase will not take effect until the employee returns to work on a full-time basis (i.e., for at least one (1) full day). 37.4 Basic life insurance will terminate at the end of the month in which an employee ceases to be a regular employee unless coverage is extended under the total disability provision. Employees who receive a monthly benefit from the Public Service Superannuation Fund or the OPSEU Pension Trust are entitled to free coverage of two thousand dollars ($2,000) not earlier than thirty-one (31) days after the first of the month coinciding with or following date of retirement and this amount will be kept in force for the remainder of the employee’s life.

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