OPTIONAL ACCIDENTAL DEATH AND DISMEMBERMENT INSURANCE PLAN Sample Clauses

OPTIONAL ACCIDENTAL DEATH AND DISMEMBERMENT INSURANCE PLAN. The Optional AD&D plan offers a full 24-hour, 365-day-a-year coverage against accidents occurring anywhere in the world, whether you are on or off the job. Under this plan, you may purchase accidental death and dismemberment coverage up to $500,000 in units of $10,000 for yourself. You may also request coverage for your spouse of up to 50% of your own coverage, in units of $10,000. Each child may be insured for $5,000. The full amount of insurance is payable if death is the result of an accident. In the event of accidental dismemberment and other physical losses, a percentage of the amount of insurance may be payable, for example: Accidental Loss Percentage of Coverage (Partial list of indemnities) Loss of life, both hands, both feet, 100% the entire sight in both eyes, or any combination thereof Loss of one arm or leg 75% Loss of use of one arm or one leg 75% Loss of one hand, one foot or sight in one eye 66-2/3% In the event of your accidental death while insured, the amount of insurance will be paid to the beneficiary. All other indemnities are payable to you. The cost of the Optional AD&D Insurance Plan is entirely paid for by you, based on the amount of insurance you select.
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OPTIONAL ACCIDENTAL DEATH AND DISMEMBERMENT INSURANCE PLAN. The Employee can enrol in an optional Accidental Death and Dismemberment Insurance Plan as outlined in Appendix A by prepaying the full premium cost through authorized source deductions.
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OPTIONAL ACCIDENTAL DEATH AND DISMEMBERMENT INSURANCE PLAN. The Optional plan offers a full coverage against accidents occurring anywhere in the world, whether you are on or off the job. Under this plan, you may purchase accidental death and dismemberment coverage up to in units of for yourself. You may also request coverage for your spouse of up to of your own coverage, in units of Each child may be insured for The full amount of insurance is payable if death is the result of an accident. In the event of accidental dismemberment and other physical losses, a percentage of the amount of insurance may be payable, Accidental Loss Percentage of Coverage (Partial list of indemnities) Loss of life, both hands, both feet, the entire sight in both eyes, or any combination thereof Loss of one arm or leg Loss of use of one arm or one leg Loss of one hand, one foot or sight in one eye In the event of your accidental death while insured, the amount of insurance will be paid to the beneficiary. All other indemnities are payable to you. of the Optional Insurance Plan is entirely paid for by you, based on the amount of insurance you select. The plan does not cover losses resulting from the following: suicide or self-destruction, or any attempt by the insured person while sane or insane, flying in any aircraft or other airborne vehicle as a pilot, operator or member of the crew, declared or undeclared war or any thereof, active full-time service in forces of any country.
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Related to OPTIONAL ACCIDENTAL DEATH AND DISMEMBERMENT INSURANCE PLAN

  • Accidental Death and Dismemberment Insurance The plan provides accidental death and dismemberment insurance coverage in an amount equal to your basic group life insurance (two times your current annual salary). Coverage is provided 24 hours per day, anywhere in the world, for any accident resulting in death, dismemberment, paralysis, loss of use, or loss of speech or hearing. If you sustain an injury caused by an accident occurring while the policy is in force which results in one of the following losses, within 365 days of the accident, the benefit shown will be paid to you. In the case of accidental death, the benefit will be paid to the beneficiary you have named to receive your group life insurance benefits. Benefits are payable in accordance with the following schedule: · Life · Both Hands or Both Feet · Entire Sight of Both Eyes · One Hand and One Foot · One Hand and Entire Sight of One Eye · One Foot and Entire Sight of One Eye · Speech and Hearing in Both Ears · Use of Both Arms or Both Legs or Both Hands · Quadriplegia (total paralysis of both upper and lower limbs) · Paraplegia (total paralysis of both lower limbs) · Hemiplegia (total paralysis of upper and lower limbs of one side of the body) · One Arm or One Leg · Use of One Arm or One Leg · One Hand or One Foot · Entire Sight of One Eye · Speech or Hearing in Both Ears · Use of One Hand or One Foot · Thumb and Index Finger of One Hand · Four Fingers of One Hand

  • Accidental Death and Dismemberment Coverage An employee may purchase accidental death and dismemberment coverage that provides principal sum benefits in amounts ranging from five thousand dollars ($5,000) to one hundred thousand dollars ($100,000). Payment is made only for accidental bodily injury or death and may vary, depending upon the extent of dismemberment. An employee may also purchase from five thousand dollars ($5,000) to twenty-five thousand dollars ($25,000) in coverage for his/her spouse, but not in excess of the amount carried by the employee.

  • Group Life and Accidental Death and Dismemberment (a) The Employer will pay 100% of the premiums for the group life and accidental death and dismemberment insurance plans. (b) The plan will provide basic life insurance in the amount of $50,000 and standard 24 hour accidental death and dismemberment insurance until age 65. At the age of 65 the amount of coverage will decrease to $25,000 until the age of 70, at which time the group insurance coverage will cease. Employees may purchase additional insurance provided this option is available by the carrier. The Employer will deduct the appropriate amount from the employee's pay for this option. (c) On termination of employment (excluding retirement) coverage for group life will continue without premium payment for a period of 31 days during which time the conversion privilege may be exercised; that is, the individual covered may convert all or part of their group life insurance into any whole life, endowment or term life policy normally issued by the insurer and the insurer's standard rates at the time, without medical evidence. (d) Employees will be entitled to advance payment of Group Life Benefits in accordance with Memorandum of Agreement #7 (Re: Advance Payment of Group Life Benefits).

  • Basic Life and Accidental Death and Dismemberment Coverage The Employer agrees to provide and pay for the following term life coverage and accidental death and dismemberment coverage for all employees eligible for an Employer Contribution, as described in Section 3. Any premium paid by the State in excess of fifty thousand dollars ($50,000) coverage is subject to a tax liability in accord with Internal Revenue Service regulations. An employee may decline coverage in excess of fifty thousand dollars ($50,000) by filing a waiver in accord with Minnesota Management & Budget procedures. The basic life insurance policy will include an accelerated benefits agreement providing for payment of benefits prior to death if the insured has a terminal condition. $10,000 - $15,000 $15,000 $15,000 $15,001 - $20,000 $20,000 $20,000 $20,001 - $25,000 $25,000 $25,000 $25,001 - $30,000 $30,000 $30,000 $30,001 - $35,000 $35,000 $35,000 $35,001 - $40,000 $40,000 $40,000 $40,001 - $45,000 $45,000 $45,000 $45,001 - $50,000 $50,000 $50,000 $50,001 - $55,000 $55,000 $55,000 $55,001 - $60,000 $60,000 $60,000 $60,001 - $65,000 $65,000 $65,000 $65,001 - $70,000 $70,000 $70,000 $70,001 - $75,000 $75,000 $75,000 $75,001 - $80,000 $80,000 $80,000 $80,001 - $85,000 $85,000 $85,000 $85,001 - $90,000 $90,000 $90,000 Over $90,000 $95,000 $95,000

  • Accidental Death and Dismemberment The Employer agrees to provide all active full-time employees with Accidental Death and Dismemberment benefit coverage equal to one (1) times their annual earnings in case of accidental death. Coverage is also provided for other losses such as speech and hearing, use of arms and legs, etc.

  • Optional Life and Disability Coverages In order for coverage to become effective, the employee must be in active payroll status and not using sick leave on the first day following approval by the insurance company. If it is an open enrollment period, coverage may be applied for but will not become effective until the first day of the employee's return to work.

  • Long Term Disability Insurance Plan The Employer shall provide a mutually acceptable long-term disability insurance plan, a copy of which shall appear in Appendix “A” – Long-Term Disability Insurance Plan. The plan shall provide post-probationary regular employees with salary continuation as per Appendix “A” until age sixty-five (65) in the event of a disability. The cost of the plan shall be borne by the Employer.

  • Life and Disability Insurance The Company will provide term life and disability insurance payable to the Employee, in each case in an amount up to a maximum of one times the Employee’s base salary in effect from time to time, provided however, that such amount will be reduced by the amount of any life insurance or death or disability benefit coverage, as applicable, that is provided to the Employee under any other benefit plans or arrangements of the Company. Such policies will be in accordance with the Company’s standard policies from time to time with respect to such insurance and the rules established for individual participation in such plans and under applicable law.

  • Split Dollar Life Insurance The Company shall pay to the Executive a lump sum equal to the cost on the Termination Date of purchasing, at standard independent insurance premium rates, an individual

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

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