Common use of Voluntary Life Insurance Clause in Contracts

Voluntary Life Insurance. 1. All employees are eligible to purchase this coverage at their individual option. The plan provides protection in a flat amount equivalent to one (1) times the employee’s annual base earnings, two thousand and eighty (2,080) hours X base straight time hourly rate, rounded to the next higher even thousand dollars ($1,000) with accidental death and dismemberment provisions (AD&D). Premiums for this coverage are fully paid by the employee. 2. Coverage reduces thirty five percent (35%) of the Voluntary Life amount at age sixty five (65), fifty percent (50%) at age seventy (70), sixty five percent (65%) at age seventy five (75) and will remain at the thirty five percent (35%) level until employee retires. Employees who participate in either plan or both will be required to sign a payroll deduction authorization form for the premiums.

Voluntary Life Insurance. 1. All employees are eligible to purchase this coverage at their individual option. The plan provides protection in a flat amount equivalent to one (1) times the employee’s annual base earnings, two thousand and eighty (2,080) hours X base straight time hourly rate, rounded to the next higher even thousand dollars ($1,000) with accidental death and dismemberment provisions (AD&D). Premiums for this coverage are fully paid by the employee. 2. Coverage reduces thirty thirty-five percent (35%) of the Voluntary Life amount at age sixty sixty-five (65), fifty percent (50%) at age seventy (70), sixty sixty-five percent (65%) at age seventy five (75) ), and will remain at the thirty thirty-five percent (35%) level until employee retires. Employees who participate in either plan or both will be required to sign a payroll deduction authorization form for the premiums.

Voluntary Life Insurance. 1. All employees are eligible to purchase this coverage at their individual option. The plan provides protection in a flat amount equivalent to one two (12) times the employee’s 's annual base earnings, two thousand and eighty (2,080) hours X base straight time hourly rate, rounded to the next higher even thousand dollars ($1,000) with accidental death and dismemberment provisions (AD&D). Premiums for this coverage are fully paid by the employee. 2. Coverage reduces thirty thirty-five percent (35%) of the Voluntary Life amount at age sixty sixty-five (65), fifty percent (50%) at age seventy (70), sixty sixty-five percent (65%) at age seventy seventy-five (75) and will remain at the thirty thirty-five percent (35%) level until employee retires. Employees who participate in either plan or both will be required to sign a payroll deduction authorization form for the premiums.

Voluntary Life Insurance. 1. All employees are eligible to purchase this coverage at their individual option. The plan provides protection in a flat amount equivalent to one two (12) times the employee’s 's annual base earnings, two thousand and eighty (2,080) hours X base straight time hourly rate, rounded to the next higher even thousand dollars ($1,000) with accidental death and dismemberment provisions (AD&D). Premiums for this coverage are fully paid by the employee. 2. Coverage reduces thirty thirty-five percent (35%) of the Voluntary Life amount at age sixty sixty-five (65), fifty percent (50%) at age seventy (70), sixty sixty-five percent (65%) at age seventy five (75) and will remain at the thirty five percent (35%) level until employee retires. Employees who participate in either plan or both will be required to sign a payroll deduction authorization form for the premiums.seventy-five

Voluntary Life Insurance. 1. All employees are eligible to purchase this coverage at their individual option. The plan provides protection in a flat amount equivalent to one two (12) times the employee’s annual base earnings, two thousand and eighty (2,080) hours X base straight time hourly rate, rounded to the next higher even thousand dollars ($1,000) with accidental death and dismemberment provisions (AD&D). Premiums for this coverage are fully paid by the employee. 2. Coverage reduces thirty thirty-five percent (35%) of the Voluntary Life amount at age sixty sixty-five (65), fifty percent (50%) at age seventy (70), sixty sixty-five percent (65%) at age seventy seventy-five (75) and will remain at the thirty thirty-five percent (35%) level until employee retires. Employees who participate in either plan or both will be required to sign a payroll deduction authorization form for the premiums.

Voluntary Life Insurance. 1. All employees are eligible to purchase this coverage at their individual option. The plan provides protection in a flat amount equivalent to one (1) times the employee’s 's annual base earnings, two thousand and eighty (2,080) hours X base straight time hourly rate, rounded to the next higher even thousand dollars ($1,000) with accidental death and dismemberment provisions (AD&D). Premiums for this coverage are fully paid by the employee. 2. Coverage reduces thirty thirty-five percent (35%) of the Voluntary Life amount at age sixty sixty-five (65), fifty percent (50%) at age seventy (70), sixty sixty-five percent (65%) at age seventy seventy-five (75) and will remain at the thirty thirty-five percent (35%) level until employee retires. Employees who participate in either plan or both will be required to sign a payroll deduction authorization form for the premiums.