Life Insurance Program. The School Corporation shall make a group life insurance protection plan available to the teachers. The School Corporation will pay the premium minus twenty-five cents ($0.25) for each teacher’s life insurance protection plan. All full-time teachers covered shall receive a policy with a face value of $50,000. Part time teachers will receive benefits as defined under section 12. The plan shall also include a provision under which the beneficiary or estate of a protected teacher shall be paid an amount equal to two times face value of the policy if the teacher’s death was the result of an accident. Additional life insurance for employees and spouses will be made available with premiums paid through payroll deduction.
Appears in 4 contracts
Samples: Professional Agreement, Professional Agreement, Professional Agreement
