Member Life Insurance Sample Clauses

Member Life Insurance. (a) The premium shall be paid 100% by the Member . (b) The basic coverage for each Member shall be $25,000, or 1, 2, 3, or 4 times the Member’s salary instead of the $25,000. (c) A Member may select additional optional life coverage up to a combined basic and optional total of $250,000 subject to providing satisfactory evidence of insurability as required by the carrier. The Member shall pay the additional premium cost of the optional insurance at the group rate. (d) Participation in the Group Life Insurance Plan shall be a condition of employment. (e) There is a waiver of premium on disability to age 65 yrs. (f) A conversion option is available upon termination.
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Related to Member Life Insurance

  • Life Insurance No portion of your IRA may be invested in life insurance contracts.

  • Group Life Insurance The Hospital shall contribute one hundred percent (100%) toward the monthly premium of HOOGLIP or other equivalent group life insurance plan in effect for eligible full-time employees in the active employ of the Hospital on the eligibility conditions set out in the existing Agreements.

  • Term Life Insurance The Employer will maintain and make available to full-time and part-time employees, the current term life insurance plan as set forth in the document "Summary of Health Benefits, Maryland State Employees."

  • Dependent Life Insurance In the event of the death of your spouse or dependent child from any cause whatsoever, while you and your dependents are insured under the plan, the insurance company will pay you $10,000 in respect of your spouse and $5,000 in respect of each insured dependent child. This applies to those employees with family health coverage only.

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