Life Insurance Coverage Options. A. The Board of Trustees will provide life insurance for each employee. The insurance shall become effective on the date of hire and terminate at retirement or other termination of employment. Amount of insurance shall be one (1x) times the annual base pay to the nearest thousand.
Life Insurance Coverage Options. A. The Board of Trustees will provide universal life insurance for each employee of the bargaining unit. The insurance shall become effective on the date of hire and terminate at retirement or other termination of employment. Amount of insurance is one (1x) times the employee’s annual base pay to the nearest thousand.
Life Insurance Coverage Options a. Active Employee Coverage Plan sponsor must select one of the following choices related to life insurance coverage for active Employees under the Plan: ❑ ❑ Plan sponsor elects not to provide life insurance coverage to its Employees through the Plan. Plan sponsor elects to provide life insurance coverage to its actively-employed Employees through the Plan as specified below. Plan sponsor may elect to provide flat-dollar coverage to Employees or percentage of compensation coverage to Employees, but may not elect to provide both types of coverage. (See page 8.) Please select one amount from Column 1 or 2:
Life Insurance Coverage Options a. Active Clergy Coverage Plan sponsor must select one of the following choices related to life insurance coverage for active Clergypersons under the Plan: ❑ ❑ Plan sponsor elects not to provide life insurance coverage to its Clergypersons through the Plan. Plan sponsor elects to provide life insurance coverage to its actively-employed Clergypersons through the Plan as specified below. Plan sponsor may elect to provide flat-dollar coverage to Clergypersons or percentage of compensation coverage to Clergypersons, but may not elect to provide both types of coverage. (See page 8.) Please select one amount from Column 1 or 2:
