Life Insurance and AD&D Insurance Sample Clauses
Life Insurance and AD&D Insurance. Section 1. The Employer will provide, without cost to the employee and in accordance with the provisions of a group life and AD&D insurance program basic life coverage that is equal to one (1) times annual base salary (rounded to the next higher one thousand dollars [$1,000]) for all employees having one (1) or more years of continuous employment.
Section 2. The Employer shall make available to all employees eligible for the group life insurance plan, supplemental Employee and Dependent Life Insurance and AD&D Insurance. Employees will pay the full cost of any supplemental plans they select.
a.) Eligible employees may obtain additional life insurance on themselves or purchase life insurance coverage on their spouse, dependent children, or any combination of the above in accordance with the provisions of the policy and subject to the underwriting requirements established by the insurance company.
b.) The employee, through payroll deduction, shall pay all supplemental life and AD&D insurance premiums.
c.) Upon termination, the employee has the right to convert such supplemental insurance to an individual subscribership, in accordance with the provisions of the policy and subject to the underwriting requirements established by the insurance company.
d.) The Employer reserves the right to change carriers at any time subject to reasonable notice to the union provided such change does not result in a decrease of benefits.
Life Insurance and AD&D Insurance. 1. Employees who meet the eligibility requirements specified in Article 20 shall receive life insurance through the Star Tribune life insurance program under the Comprehensive Welfare Plan in an amount equal to the employee’s straight-time annual pay. The plan benefit provisions will be the insurer’s standard provisions offered to Star Tribune non-union employees. Beginning January 1, 2005, the insurer’s standard age reduction provisions shall apply to all current and future plan participants, except that no age reduction shall apply to any Guild employee who is both a plan participant and age 65 or older on January 1, 2005.
2. Employees may, at their option and their own cost, purchase additional life insurance in increments of one to four times one year’s salary for themselves. The supplemental life provisions will be the insurer’s standard provisions offered to Star Tribune non-union employees. Beginning January 1, 2005, the insurer’s standard age reduction provisions shall apply to all current and future plan participants, except that no age reduction shall apply to any Guild employee who is both a plan participant and age 65 or older on January 1, 2005. Unless the employee purchases the optional coverage when first becoming eligible upon hire, the employee shall provide satisfactory medical evidence of health for such additional coverage.
3. Guild employees also may buy life insurance coverage of one or two times one year’s salary for a spouse. (The spouse shall provide satisfactory medical evidence of health.) The spousal life benefit provisions will be the insurer’s standard provisions offered to Star Tribune non-union employees and, effective January 1, 2017, will include coverage for domestic partners, if available from the insurer.
4. The Publisher may change the provider of life insurance plans as long as benefit levels are not substantially changed.
5. Guild employees who meet the eligibility requirements in Article 20 may, at their option and their own cost, purchase accidental death and dismemberment insurance (“AD&D”) through the Star Tribune AD&D plan under the Comprehensive Welfare Plan on the same basis as nonunion employees.
6. The Publisher agrees to provide death and dismemberment insurance under the company Business Travel and Accident policy for employees while they travel on the business of the Publisher.
Life Insurance and AD&D Insurance. The Employer agrees to pay the full premium for term Life Insurance and Accidental Death and Dismemberment Insurance for regular full-time employees in the amount of $20,000 or one times salary, whichever is greater, said insurance to become effective after six (6) consecutive months of employment as a regular employee in accordance with the plan documents. The Employer has the right to change the provider and/or plans, provided that substantially equivalent coverage is maintained.
Life Insurance and AD&D Insurance. Section 1. The Employer will provide, without cost to the employee and in accordance with the provisions of a group life and AD&D insurance program basic life coverage that is equal to one (1) times annual base salary (rounded to the next higher one thousand dollars [$1,000]) for all employees having one (1) or more years of continuous employment.