Common use of Life Insurance for Employees Clause in Contracts

Life Insurance for Employees. Your life is insured under a Group Life Policy as follows: (providing you are actively at work) Effective January 1, 2012: $56,000. ** You may change your beneficiary at any time in accord- ance with the laws of the Province of Ontario. The increased life insurance will become effective upon your return to active full-time employment. If your employment is terminated, Life Insurance cover- age will remain in force for thirty-one (31) days from date of termination. Within this period, you have the privilege of converting the Life Insurance to an individual policy on any full participating plan then issued by the Insurance Company. No medical examination or other evidence of health will be required within this thirty-one (31) day per- iod. The Life Insurance is payable in the event of your death for any cause, at any time or place, while you are insured. The full amount of your insurance will be paid in one (1) lump sum to your beneficiary. If a different form of settlement is requested, it can be arranged subject to the Company’s approval. Should you become totally and permanently disabled as a result of either sickness or accident before the age of sixty- five (65), the total amount of your insurance will remain in force until you reach age sixty-five (65), providing you remain totally and permanently disabled. (For Life Insur- ance benefits after age sixty-five (65), see section on Pen- sioners.)

Life Insurance for Employees. Your life is insured under a Group Life Policy as follows: (providing you are actively at work) Effective January 1, 20122016: $56,00058,000. ** You may change your beneficiary at any time in accord- accord‑ ance with the laws of the Province of Ontario. The increased life insurance will become effective upon your return to active full-time full‑time employment. If your employment is terminated, Life Insurance cover- age coverage will remain in force for thirty-one thirty‑one (31) days from date of termination. Within this period, you have the privilege of converting the Life Insurance to an individual policy on any full participating plan then issued by the Insurance CompanyCom‑ pany. No medical examination or other evidence of health will be required within this thirty-one thirty‑one (31) day per- iodperiod. The Life Insurance is payable in the event of your death for any cause, at any time or place, while you are insured. The full amount of your insurance will be paid in one (1) lump sum to your beneficiary. If a different form of settlement is requested, it can be arranged subject to the Company’s approval. Should you become totally and permanently disabled as a result of either sickness or accident before the age of sixty- five sixty‑five (65), the total amount of your insurance will remain re‑ main in force until you reach age sixty-five sixty‑five (65), providing you remain totally and permanently disabled. (For Life Insur- ance Insurance benefits after age sixty-five sixty‑five (65), see section on Pen- sionersPensioners.)

Life Insurance for Employees. Your life is insured under a Group Life Policy as follows: (providing you are actively at work) Effective January July 1, 20122016: $56,00058,000. ** You may change your beneficiary at any time in accord- ance with the laws of the Province of Ontario. The increased life insurance will become effective upon your return to active full-time employment. If your employment is terminated, Life Insurance cover- age coverage will remain in force for thirty-one (31) days from date of termination. Within this period, you have the privilege of converting the Life Insurance to an individual policy on any full participating plan then issued by the Insurance CompanyCom- pany. No medical examination or other evidence of health will be required within this thirty-one (31) day per- iodperiod. The Life Insurance is payable in the event of your death for any cause, at any time or place, while you are insured. The full amount of your insurance will be paid in one (1) lump sum to your beneficiary. If a different form of settlement is requested, it can be arranged subject to the Company’s approval. Should you become totally and permanently disabled as a result of either sickness or accident before the age of sixty- five (65), the total amount of your insurance will remain in force until you reach age sixty-five (65), providing you remain totally and permanently disabled. (For Life Insur- ance benefits after age sixty-five (65), see section on Pen- sioners.)