Life Insurance for Retired Employees. The District shall pay for the same insurance policy as listed in Section 2 for retired administrators and their families, including children up to the age of years nineteen (19) or twenty-five (25) if a full-time student.
Life Insurance for Retired Employees. 30.4.1. In the event of the death of an employee who retired, life insurance shall be established in the amount of $7,500.
Life Insurance for Retired Employees. Upon retirement' under the provisions of the Pension Agreement in effect between the Company and the Union, the employee shall be provided coverage for Life Insurance in an amount equal to five thousand dollars 'If the employee is terminated and receives a total and permanent disability pension, this clause will become opera- tive when the employee commences to receive their early or normal retirement pension.
Life Insurance for Retired Employees. Upon retirement* under the provisions of the Pension Agreement in effect between the Company and the Union, the employee shall be provided coverage for Life Insurance in an amount equal to $5,000. *If the employee is terminated and receives a total and permanent disability pension, this clause will become operative when the employee commences to receive their early or normal retirement pension. Conversion Privilege When your insurance terminates because of termination of your employment, you will have the privilege of converting your Life Insurance within the next thirty-one (31) days without medical examination to a new policy on any of Great West Life's regular plans (except term insurance other than term insurance to age sixty-five (65) and term insurance for a period of one (1) year which may be converted to a form other than term insurance) without Total Disability Benefit or Accidental Death Benefits for an amount not exceeding the amount of your Group Life Insurance. The premium will be at the rate of your then attained age. If the Group Policy with Great West Life terminates and you had been continuously insured for five (5) or more years you will be entitled to exercise this conversion privilege except that the new policy shall not exceed the full amount your were insured for immediately prior to the termination of the Group Policy up to $5,000 and twenty five percent (25%) of any insurance over $5,000 less that amount you are eligible for under a replacing Group Contract. If you die during the thirty-one (31) day period in which you might have exercised this conversion privilege, your beneficiary will be paid the amount of Life Insurance which you would have been entitled to convert.
Life Insurance for Retired Employees. Upon retirement* under the provisions of the Pension Agreement in effect between the Company and the Union, the employee shall be provided coverage for Life Insurance in an amount equal to the employee is terminated and receives a total and permanent disability pension, this clause will become operative when the employee commences to receive their early or normal retirement pension. Conversion Privilege When your insurance terminates because of termination of your employment, you will have the privilege of converting your Life Insurance within the next thirty-one (31) days without medical examination to a new policy on any of Great West Life’s regular plans (except term insurance other than term insurance to age sixty-five (65) and term insurance for a period of one (1) year which may be converted to a form other than term insurance) without Total Disability Benefit or Accidental Death Benefits for an amount not exceeding the amount of your Group Life Insurance. The premium will be at the rate of your then attained age. If the Group Policy with Great West Life terminates and you had been continuously insured for five (5) or more years you will be entitled to exercise this conversion privilege except that the new policy shall not exceed the full amount your were insured for immediately prior to the termination of the Group Policy up to and twenty five percent (25%) of any insurance over less that amount you are eligible for under a replacing Group Contract. If you die during the thirty-one (31) day period in which you might have exercised this conversion privilege, your beneficiary will be paid the amount of Life Insurance which you would have been entitled to convert. Accidental Death and Dismemberment If, while an employee is covered under this Agreement, the employee, as a result of an accident, suffers any of the losses listed below within ninety (90) days of the accident, payment will be made as indicated. The amount of accidental death and dismemberment insurance is as shown in the following schedule. Full amount of Benefit EMPLOYEE (effective December 1994) LOSS OF LIFE. Full amount of insurance (paid to your beneficiary) both hands both feet the sight of both eyes one hand and one foot full amount of insurance one hand and the sight of one eye one foot and the sight of one eye speech and hearing or quadriplegia one arm one leg paraplegia (paid to you) three-quarters of the amount of insurance one hand one foot sight of one eye one-half of the amount...
