Common use of Long Term Salary Indemnity Clause in Contracts

Long Term Salary Indemnity. Long-Term Salary Indemnity is provided in accordance with the terms of the contract with the insuring company on the following general basis: Amount of benefit: 70% of salary to a maximum of $3,792. Duration of benefit: until retirement or as otherwise provided. Benefit effective: upon expiration of Short-Term Salary Indemnity coverage. Eligibility: Regular faculty employed one-half (1/2) time or more: Coverage commences on the first day of the month coincident with or following date of appointment as regular. The premium cost of Long-Term Salary Indemnity coverage shall be borne entirely by the faculty member and shall be paid by means of payroll deductions. 8.8.2.1 When on approved long-term salary indemnity, the Faculty member may opt to pay the premiums for MSP, Extended Health and Dental coverage by providing post-dated cheques. STD and LTD premiums are not required and Group Life and AD&D premiums are waived.

Long Term Salary Indemnity. Long-Term Salary Indemnity is provided in accordance with the terms of the contract with the insuring company on the following general basis: Amount of benefit: 70% of salary to a maximum of $3,792. Duration of benefit: until retirement or as otherwise provided. Benefit effective: upon expiration of Short-Term Salary Indemnity coverage. Eligibility: Regular faculty employed one-half (1/2) time or more: Coverage commences on the first day of the month coincident with or following date of appointment as regular. The premium cost of Long-Term Salary Indemnity coverage shall be borne entirely by the faculty member and shall be paid by means of payroll deductions. 8.8.2.1 When on approved long-term salary indemnity, the Faculty member may opt to pay the premiums for MSP, Extended Health and Dental coverage by providing post-dated cheques. STD and LTD premiums are not required and Group Life and AD&D premiums are waived.