Settlement Options. The amount of any valid life insurance or accidental death and dismemberment insurance claim for death shall be paid in one sum or in a fixed number of monthly or yearly instalments for each $1,000.00 in accordance with the settlement options made available by the Insurer. In the event that provision for payment of such a claim by instalments has not been made by the employee prior to his/her death, then such provision may be designated by the beneficiary last named by the employee.
Appears in 6 contracts
Samples: Collective Bargaining Agreement, Collective Bargaining Agreement, Collective Bargaining Agreement
Settlement Options. The amount of any valid life insurance or accidental death and dismemberment insurance claim for death shall be paid in one sum or in a fixed number of monthly or yearly instalments installments for each $1,000.00 1,000.00, in accordance with the settlement options made available by the Insurer. In the event that provision for payment of such a claim by instalments installments has not been made by the employee prior to his/her death, then such provision may be designated by the beneficiary last named by the employee.
Appears in 4 contracts
Samples: Supplemental Agreement, Agreement Concerning the Supplemental Unemployment Benefit Plan, the Separation Payment Plan, and the Automatic Short Week Benefit Plan, Collective Bargaining Agreement
Settlement Options. The amount of any valid life insurance or accidental death and dismemberment insurance claim for death shall be paid in one sum or in a fixed number of monthly or yearly instalments installments for each $1,000.00 in accordance with the settlement options made available by the Insurerinsurer. In the event that provision for payment of such a claim by instalments installments has not been made by the employee prior to his/her death, then such provision may be designated by the beneficiary last named by the employee.
Appears in 2 contracts
Samples: Collective Bargaining Agreement, Collective Bargaining Agreement
Settlement Options. The amount of any valid life insurance or accidental death and dismemberment insurance claim for death shall be paid in one sum or in a fixed number of monthly or yearly instalments installments for each $1,000.00 1,000 in accordance with the settlement options made available by the Insurerinsurer. In the event that provision for payment of such a claim by instalments installments has not been made by the employee prior to his/her death, then such provision may be designated by the beneficiary last named by the employee.
Appears in 2 contracts
Samples: Collective Bargaining Agreement, Collective Bargaining Agreement