Common use of Supplemental Group Term Life Insurance Clause in Contracts

Supplemental Group Term Life Insurance. Full-time Principals shall have the option, subject to the conditions established by the School Board's carrier for group term life insurance as provided in Section 5 of this Article to purchase supplemental group term life insurance with AD&D in the amounts of $100,000, $200,000, $300,000, or $400,000 not to exceed four (4) times annual salary. In the event of early retirement, a Principal may continue to purchase supplemental life insurance until they reach the age of sixty-five (65).

Supplemental Group Term Life Insurance. Full-time Principals shall have the option, subject to the conditions established by the School Board's carrier for group term life insurance as provided in Section 5 of this Article to purchase supplemental group term life insurance with AD&D in the amounts of $100,000, $200,000, $300,000, or $400,000 400,000, etc., not to exceed four (4) times annual salary. In the event of early retirement, a Principal may continue to purchase supplemental life insurance until they reach the age of sixty-five (65).