Common use of Life Insurance for Retirees Clause in Contracts

Life Insurance for Retirees. During the last academic year prior to the faculty member’s retirement, a faculty member may apply for continuance after retirement, of the group life insurance benefits in the amount of $10,000. The University will continue such faculty member on the group life insurance rolls to the extent of $10,000 provided that the faculty member pays the premiums on an ongoing basis. Unless the initial premium and future annual premiums are paid in advance, the faculty member shall not be entitled to any such insurance coverage.

Life Insurance for Retirees. During the last academic year prior to the faculty member’s 's retirement, a faculty member may apply for continuance after retirement, of the group life insurance benefits in the amount of $10,000. The University will continue such faculty member on the group life insurance rolls to the extent of $10,000 provided that the faculty member pays the premiums on an ongoing basis. Unless the initial premium and future annual premiums are paid in advance, the faculty member shall not be entitled to any such insurance coverage.

Life Insurance for Retirees. ‌ During the last academic year prior to the faculty member’s retirement, a faculty member may apply for continuance after retirement, of the group life insurance benefits in the amount of $10,000. The University will continue such faculty member on the group life insurance rolls to the extent of $10,000 provided that the faculty member pays the premiums on an ongoing basis. Unless the initial premium and future annual premiums are paid in advance, the faculty member shall not be entitled to any such insurance coverage.