Life Insurances. (a) Group Life Insurance Employees will be covered for Basic Life insurance equivalent to one times base salary. The Company will pay one hundred per cent (100%) of the premium cost of this Plan. (b) Supplementary Group Life Insurance The Company will provide Supplementary Life insurance equivalent to one times base salary and will pay one sixth (1/6) of the premium necessary to support this Plan. Employees may elect to continue their Supplementary Life coverage upon retirement. The coverage will decrease by 10% for each year beyond age 65, reducing to 0 at age 75.
Appears in 7 contracts
Samples: Collective Agreement, Collective Agreement, Collective Agreement
Life Insurances. (a) Group Life Insurance Employees will be covered for Basic Life insurance equivalent to one (1) times base salary. The Company will pay one hundred per cent percent (100%) of the premium cost of this Plan.
(b) Supplementary Group Life Insurance The Company will provide Supplementary Life insurance equivalent to one times base salary and will pay one sixth (1/6) of the premium necessary to support this Plan. Employees may elect to continue their Supplementary Life coverage upon retirement. The coverage will decrease by ten percent (10% %) for each year beyond age 65, reducing to 0 at age 75.
Appears in 3 contracts
Samples: Collective Agreement, Collective Agreement, Collective Agreement
