Voluntary Optional Life Insurance. All regular employees shall be eligible to purchase additional life insurance with one hundred per centum (100%) of the cost to be borne by the employee.
Voluntary Optional Life Insurance Sample Clauses
Related to Voluntary Optional Life Insurance
Optional Life Insurance The State shall make available optional term-life insurance to employees. The cost will be paid by the employee on a payroll deduction basis. The available coverage will be at least two (2) times the employee’s salary. No evidence of insurability will be required if an adequate number of employees participate. The State will explore smoker/non-smoker rates and spousal coverage.
Optional Life and Disability Coverages In order for coverage to become effective, the employee must be in active payroll status and not using sick leave on the first day following approval by the insurance company. If it is an open enrollment period, coverage may be applied for but will not become effective until the first day of the employee's return to work.
Voluntary Options The County shall provide additional options to permit employees to elect up to three (3) times their annual salary to a maximum of $500,000 of provided and purchased life insurance. Premium rates for these supplemental options shall be determined by the County based on the quotation from the insurance carrier selected by the County to provide the life insurance.
Term Life Insurance The Employer will maintain and make available to full-time and part-time employees, the current term life insurance plan as set forth in the document "Summary of Health Benefits, Maryland State Employees."
Life Insurance No portion of your IRA may be invested in life insurance contracts.
Group Term Life Insurance The School District will pay the full premium for each $1,000 of coverage for group term life insurance. The amount of life insurance provided will be $20,000, subject to the conditions of the carrier.
