Common use of Life Insurance and Disability Coverage Clause in Contracts

Life Insurance and Disability Coverage. 1. The Employer will pay the full insurance policy premium for each regular full time employee to provide $30,000 individual life insurance. Further, each employee will be allowed to purchase through payroll deduction a maximum of $100,000 additional insurance. To be eligible for additional insurance, the employee must qualify under the rules and regulations of the respective carrier, which includes both the provision of medical evidence sufficient to assure insurability, and enrollment in accord with a schedule of rates as provided by the carrier. 2. The Employer will pay the full insurance policy premium for each regular full time employee to provide an individual long-term disability program. Employee benefit payment period for disability due to accident or illness will in no case extend beyond the benefit payment period stated below: Age Maximum Benefit Payment (at disability) (following disability qualification period) Accident – to age 65 Illness – to age 65 60 and under Benefit disability as described by carrier Accident – to age 65 Illness – to age 65 61 To age 65, but not less than 5 yrs 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 Insurance and Disability Coverage. 1. The Employer will pay the full insurance policy premium for each regular full full-time employee to provide $30,000 individual life insurance. Further, each employee will be allowed to purchase purchase, through payroll deduction a maximum of $100,000 additional insurance. To be eligible for additional insurance, the employee must qualify under the rules and regulations of the respective carrier, carrier which includes both the provision of medical evidence sufficient to assure insurability, insurability and enrollment in accord with a schedule of rates as provided by the carrier. 2. The Employer will pay the full insurance policy premium for each regular full full-time employee to provide an individual long-term disability program. Employee benefit payment period for disability due to accident or illness will in no case extend beyond the benefit payment period stated below: Age Maximum Benefit Payment (at disability) Maximum Benefit Payment (following disability qualification period) Accident – to age 65 Illness – to age 65 60 and under Benefit disability as described by carrier Accident – to age 65 Illness – to age 65 61 To age 65, but not less than 5 yrs 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