Optional Contributory Term Life Insurance Plan a. Each full-time professional staff member may join a group life insurance plan in which he/she agrees to pay fifty percent (50%) of the premium on a $25,000 term life insurance policy. The College will pay the remaining fifty percent (50%).
Optional Contributory Term Life Insurance Plan. Each full-time employee hired prior to September 1, 1997, shall be entitled to join a group life insurance in which he/she agrees to pay the first fifty percent (50%) of the premium of a $25,000 term life insurance policy. The College will pay the remaining fifty percent (50%). Each full-time employee hired prior to September 1, 1997, may elect to obtain up to $50,000 more in life insurance for which the employee pays fifty percent (50%) of the premium. The College then pays fifty percent (50%) of the additional $25,000 or $50,000 term life insurance policy. The specific plan will be determined by the College. Each full-time employee hired after September 1, 1997, may opt to join a group life insurance in which he/she agrees to pay one hundred percent (100%) of the premium. The specific plan will be determined by the College.
