Life Insurance and Accidental Death and Dismemberment Insurance. 12.1.1.1 Any Employee not electing dependent coverage for the comprehensive hospital and medical-surgical programs will receive group term life insurance in an amount equal to twice his / her annual base salary rounded to the next higher thousand dollars. 12.1.1.2 All Employees shall be given the option of receiving either the amount of group term life 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
