Term Life. 2.131 The Board shall pay the premium of a term life policy for all members in the bargaining unit. The face value of each policy shall be $50,000.00, for all members employed as of June 30, 2005 and continuously thereafter. Members are subject to a reduction in the benefit due to restrictions as specified in the Group Life Insurance Benefits Handbook in effect at the time of the benefit claim. 2.14 SEVERANCE PAY 2.141 To be eligible for severance pay the employee must meet all the following requirements:
Term Life. The School District shall pay the premium of a $50,000 term life insurance policy for the employee.
Term Life. The District will provide term life insurance equal to the teacher’s annual salary. This coverage is contingent upon the availability of said life insurance now and in the future and the ability of the teacher to meet the standards of insurability as prescribed by the Districts life insurance carrier. Unless otherwise specified by the teacher, the beneficiary of the term life insurance will be the teacher’s spouse.
Term Life. 1) The Board will provide for each employee, life insurance protection including accidental death and dismemberment, and waiver of premium, for up to two years of disability, in the amount of fifty thousand dollars ($50,000).
Term Life a. The Corporation will pay the cost less one dollar for a term life insurance policy for each teacher that provides a minimum death benefit of fifty thousand dollars, double for accidental death.
Term Life. Subd. 1. The School District will pay in full the premium for a term life insurance policy in the amount of $100,000 for each full time teacher employed by the school district who qualifies for, and is enrolled in the School District long term disability insurance program.
Term Life. The Board will provide all employees in full a thirty-five thousand dollar ($35,000) term life insurance policy with double indemnity for accidental death. This policy includes waiver premium during total disability to age sixty (60) and conversion privileges.
Term Life. The Center Board will provide Term Life Insurance in the amount of $30,000 for each licensed staff member. The Board reserves the right to choose the insurance carriers.
Term Life. Term life insurance is effective the first (1st) day of the second (2nd) full month following date of hire. The benefit will be paid to the bargaining unit member's designated beneficiary. In the event of accidental death, the insurance will pay double the specified amount. Options Amount of Coverage Annual Cost to Employee Annual Cash Refund CORE $120,000 0 0 OPT I $50,000 0 $48 OPT II $25,000 0 $96 Bargaining unit members who elect either OPT I or OPT II will be subject to evidence of insurability should they elect the CORE benefit at a later date.
