Common use of Life Insurance/TSA Clause in Contracts

Life Insurance/TSA. The District shall provide Group Term Life Insurance with accidental death and dismemberment benefits for present administrators. New administrators must be accepted as a risk by the carrier. The amount of insurance shall be $75,000. The carrier shall be selected by the District and the group policy is subject to the terms of the carrier. Under all insurance policies, it shall be the duty of the administrator to apply for such coverage. In addition, each administrator shall have an annual Board paid tax sheltered annuity in the amount of $1,000.

Life Insurance/TSA. The District shall provide Group Term Life Insurance with accidental death and dismemberment benefits for present administrators. New administrators must be accepted as a risk by the carrier. The amount of insurance shall be $75,000. The carrier shall be selected by the District and the group policy is subject to the terms of the carrier. Under all insurance policies, it shall be the duty of the administrator to apply for such coverage. In addition, each administrator shall have an annual Board paid tax sheltered annuity in the amount option of $1,000selecting one of the following forms of benefit enhancement.