GROUP LIFE PROGRAMS Clause Samples
The 'Group Life Programs' clause establishes the provision of life insurance coverage for a defined group, typically employees of an organization, under a single master policy. This clause outlines eligibility criteria, coverage amounts, and the process for enrollment, often allowing for automatic inclusion of eligible members and the option for additional voluntary coverage. Its core practical function is to ensure that members of the group receive life insurance benefits efficiently and at potentially lower costs than individual policies, thereby providing financial security to beneficiaries and supporting employee welfare.
GROUP LIFE PROGRAMS. Effective Immediately after the Distribution Date, Lucent shall cause the insurance carrier that provides basic active life insurance coverage, supplemental life insurance coverage, dependent life insurance coverage, accidental life insurance coverage and the portion of the post-retirement life insurance benefit which exceeds $50,000 per participant under the Lucent Group Life Program to: (a) perform an experience rating; (b) allocate the applicable premium stabilization reserves between Lucent and Agere on an actuarial basis; (c) allocate pending claim reserves based on actual claims data; and (d) allocate unreported claim reserves based on expected claims by coverage.
GROUP LIFE PROGRAMS. Effective as of the Close of the Distribution Date, AT&T shall cause the insurance carrier that provides basic active life insurance coverage, supplemental life insurance coverage, dependent life insurance coverage, accidental life insurance coverage and the portion of the post-retirement life insurance benefit which exceeds $50,000 per participant under the AT&T Group Life Program to: (a) perform an experience rating; (b) allocate the applicable premium stabilization reserves between AT&T and Lucent on an actuarial basis; (c) allocate pending claim reserves based on actual claims data; and (d) allocate unreported claim reserves based on expected claims by coverage.
GROUP LIFE PROGRAMS. 31 5.13 COBRA and Direct Pay....................................... 31 5.14 Leave of Absence Programs and FMLA......................... 31 5.15 AT&T Workers' Compensation Program......................... 32 (a) Administration of Claims........................... 32 (b) Self-Insurance Status.............................. 33 (c) Insurance Policy................................... 33 5.16 American Transtech Inc. and Benefit Directions Enrollment Center........................................ 34 5.17 AT&T Employee Assistance Program........................... 34 5.18 AT&T Work and Family Program............................... 34 5.19