Common use of PAID-UP LIFE INSURANCE Clause in Contracts

PAID-UP LIFE INSURANCE. 36.4.3.1 Any full-time employee who retires shall receive a Paid-up Life Insurance Policy, paid for wholly by the City, with a face value of one hundred dollars ($100.00) for each complete continuous year of service and fifty dollars ($50.00) for more than six (6) months, but less than a complete year of service up to a maximum of two thousand dollars ($2,000).

PAID-UP LIFE INSURANCE. 36.4.3.1 26.4.3.1 Any full-time employee who retires shall receive a Paid-up Life Insurance Policy, paid for wholly by the City, with a face value of one hundred dollars ($100.00) for each complete continuous year of service and fifty dollars ($50.00) for more than six (6) months, but less than a complete year of service up to a maximum of two thousand dollars ($2,000).