Basic Life. 32.9.1 The Employer shall pay one hundred percent (100%) of the monthly premium of the Basic Life plan. 32.9.2 The Basic Life Insurance Plan shall provide: (a) coverage of five thousand dollars ($5,000) during the period of employment, (b) a conversion option on termination of insurance coverage may be exercised without evidence of insurability and providing coverage up to the amount for which the employee was insured prior to termination (less the amount of coverage provided by the Employer in the case of retirement). The premium of such policy shall be at the current rates of the insuring company. Application must be made within thirty-one
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Sources: Collective Agreement, Collective Agreement