Common use of GROUP LIFE PROGRAMS Clause in Contracts

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.