Basic Group Life Insurance. You are insured for a life insurance benefit equal to two times your current annual salary rounded to the next higher $1,000, if not already a multiple thereof, subject to a minimum of $10,000 and a maximum of $1,000,000. If your insurance ceases on or prior to age 65, you may be entitled to convert the cancelled amount of basic group life insurance to an individual policy of the type then being offered by the insurer to conversion applicants within 31 days of the termination and no medical evidence of insurability would be required. The premium rate would be based on your age and class of risk at that time.
Appears in 26 contracts
Samples: Collective Agreement, Collective Agreement, Maintenance and Operational Services
