4k Group Life Insurance Clause Examples for Any Agreement
The Group Life Insurance clause establishes the requirement for providing life insurance coverage to a defined group, typically employees of a company or members of an organization. This clause outlines the eligibility criteria, coverage amounts, and the process for enrolling participants under a single master policy, often with premiums paid in part or full by the employer. Its core function is to ensure that members of the group receive life insurance benefits, offering financial protection to their beneficiaries and streamlining the administration of coverage compared to individual policies.
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Group Life Insurance. The Hospital shall contribute one hundred percent (100%) toward the monthly premium of HOOGLIP or other equivalent group life insurance plan in effect for eligible full-time employees in the active employ of the Hospital on the eligibility conditions set out in the existing Agreements.
Group Life Insurance. The Company agrees to include the Executive under the Company's group term life insurance policy in accordance with the policies of the Company. The Company shall pay all premiums for such coverage.
Group Life Insurance. All eligible full-time employees may sign up for Group Life Insurance in accordance with the terms and conditions of the Plan, which shall provide at least coverage in the amount of double the annual salary of the employee. The Hospital agrees to pay 100% of the billed premium. Such insurance shall include benefits for accidental death and dismemberment in the principal amount equal to the amount of the Group Life Insurance to which the employee is entitled.
Group Life Insurance. The Employer shall contract for a group life insurance plan, as set out in the current Employee Benefit Booklet. The Group Life plan shall provide $30,000 insurance coverage for post probationary employees until age sixty-five (65). Thereafter, the amount of coverage will decrease to $15,000. Group insurance coverage ceases for all employee at age seventy (70). The plan shall include coverage for accidental death.
Group Life Insurance.
(a) The Employer shall provide a group life insurance plan.
(b) The plan shall provide basic life insurance in the amount of $50,000 and standard 24 hour accidental death and dismemberment insurance. Coverage shall continue until termination of employment. On termination of employment (including retirement) coverage shall continue without premium payment for a period of 31 days during which time the conversion privilege may be exercised: that is, the individual covered may convert all or part of his/her group life insurance into any whole life, endowment or term life policy normally issued by the insurer and the insurer's standard rates at the time, without medical evidence.
(c) The Employer shall pay 100% of the premium.
Group Life Insurance. A. The County shall pay 100% of the cost of the premium for a $20,000.00 Group Term Life Insurance policy for employees covered by this agreement.
Group Life Insurance. Benefit Eligible Employees will be enrolled in the Employers group term life insurance policy and will be provided with a death benefit of the lesser of one (1) times annual compensation as defined by the life insurance policy or fifty thousand dollars ($50,000.00). When employees meet eligibility requirements but they are not on active status, they will be eligible to enroll upon their return to active status. The Employer will pay the required premiums for the above amounts and will continue to provide arrangements for employees to purchase additional amounts of life insurance.
Group Life Insurance. The Employer agrees to pay on behalf of each eligible full-time employee one hundred percent (100%) of the billed premium of the Group Life Insurance Plan. The benefits under the plan include life insurance coverage of three (3) times annual salary, rounded to the closest one hundred dollars ($100), plus Accidental Death and Dismemberment coverage.
Group Life Insurance. Regular Full-Time Employees and Temporary Full-Time Employees who have completed six (6) months' probationary employment shall be entitled to Group Life Insurance as follows:
Group Life Insurance. The Employer shall provide a Group Life Insurance Plan providing $50,000 insurance coverage for post-probationary employees. The plan shall include provision for employees to continue the payment of premiums after retirement or termination. The plan shall also include coverage for accidental death and dismemberment. The HEABC and the Health Science Professionals Bargaining Association agree that the Group Life Plan shall be governed by the terms and conditions set forth below. Regular full-time employees shall, upon completion of the three (3) calendar month probationary period, become members of the Group Life Insurance Plan as a condition of employment. Regular part-time employees shall, upon completion of the four hundred and sixty- nine point eight (469.8) [four hundred and eighty-nine (489) effective September 1, 2013] hours worked or six (6) months’ work probationary period, become members of the Group Life Insurance Plan as a condition of employment.