Common use of Basic Plan Life Insurance Clause in Contracts

Basic Plan Life Insurance. 12.1 The Board will pay one hundred percent (100%) of the premium for fifteen thousand dollars ($15,000) life insurance. For active employees, additional life insurance (optional) can be purchased in multiples of basic annual earnings. Minimum coverage is for 1X’s the employee’s basic annual earning and maximum coverage is 10X’s the employee’s basic annual earning up to $1,000,000. Optional life insurance coverage shall be available to employees by payroll deduction.

Basic Plan Life Insurance. 12.1 The Board will pay one hundred percent (100%) of the premium for fifteen thousand dollars ($15,000) life insurance. For active employees, additional life insurance (optional) can be purchased in multiples of basic annual earnings. Minimum coverage is for 1X1x’s the employee’s basic annual earning earnings and maximum coverage is 10X10x’s the employee’s basic annual earning earnings up to $1,000,000. Optional life insurance coverage shall be available to employees by payroll deduction.

Basic Plan Life Insurance. 12.1 The Board will pay one hundred percent (100%) % of the premium for fifteen thousand dollars ($15,000) 10,000 life insurance. For active employees, additional life insurance (optional) can be purchased in multiples of basic annual earnings, rounded up or down to the nearest $1,000 increment. Minimum coverage is Increments are equal to .25 times the employee’s base annual earnings starting at .50 times earnings. The minimum amount available for 1X’s additional coverage, therefore, equals .50 times the employee’s basic annual earning and earnings. The maximum coverage is 10X’s amount available equals the lesser of three (3) times the employee’s basic annual earning up to earnings or $1,000,000400,000. Optional life insurance coverage shall be available to employees by payroll deduction.

Basic Plan Life Insurance. 12.1 The Board will pay one hundred percent (100%) of the premium for fifteen thousand dollars ($15,000) life insurance. For active employees, additional life insurance (optional) can be purchased in multiples of basic annual earnings. Minimum coverage is for 1X’s 1X‟s the employee’s employee‟s basic annual earning and maximum coverage is 10X’s 10X‟s the employee’s employee‟s basic annual earning up to $1,000,000. Optional life insurance coverage shall be available to employees by payroll deduction.

Basic Plan Life Insurance. 12.1 The Board will pay one hundred percent (100%) % of the premium for fifteen thousand dollars ($15,000) 15,000 life insurance. For active employees, additional life insurance (optional) can be purchased in multiples of basic annual earnings, rounded up or down to the nearest $1,000 increment. Minimum coverage is Increments are equal to .25 times the employee’s base annual earnings starting at .50 times earnings. The minimum amount available for 1X’s additional coverage, therefore, equals .50 times the employee’s basic annual earning and earnings. The maximum coverage is 10X’s amount available equals the lesser of three (3) times the employee’s basic annual earning up to earnings or $1,000,000400,000. Optional life insurance coverage shall be available to employees by payroll deduction.

Basic Plan Life Insurance. 12.1 The Board will pay one hundred percent (100%) of the premium for fifteen thousand dollars ($15,000) life insurance. For active employees, additional life insurance (optional) can be purchased in multiples of basic annual earnings. Minimum coverage is for 1X’s the employee’s basic annual earning and maximum coverage is 10X’s the employee’s basic annual earning up to $1,000,000. Optional life insurance coverage shall be available to employees by payroll deduction.