Common use of Group Term Life Insurance Plan Clause in Contracts

Group Term Life Insurance Plan. (1) The Board shall provide group term l i fe insurance equal to two times the annual earnings taken to the next higher $ 1 ,000. and spouse coverage of $12,000. prorated to the percentage of teaching time. The Board shall pay 50% of the premium. Teachers will have the option to purchase additional coverage to three (3) times salary at the Board Premium rate and at the teacher’s expense, subject to insurability by the carrier.

Group Term Life Insurance Plan. (1) The Board shall provide group term l i fe life insurance equal to two (2) times the annual earnings salary taken to the next higher $ 1 ,000. and spouse coverage of $12,000. prorated 1,000, pro-rated to the percentage of teaching time. In addition, the Board shall provide spousal term life insurance coverage of $18,000. The Board shall pay 50100% of the premiumgroup life and the spousal insurance premiums. Participation in this insurance plan shall be mandatory for all Teachers will have the option to purchase additional coverage to three (3) times salary at the Board Premium rate and at the teacher’s expense, subject to insurability covered by the carrierthis agreement.

Group Term Life Insurance Plan. (1) The Board shall provide group term l i fe life insurance equal to two (2) times the annual earnings salary taken to the next higher $ 1 ,000$1,000. and spouse In addition, the Board shall provide spousal coverage of $12,000. All coverage will be prorated to the percentage of teaching time. The Board shall pay 50% of the premiumgroup life and the spousal insurance premiums. Participation in this insurance plan shall be mandatory for all Teachers will have the option to purchase additional coverage to three (3) times salary at the Board Premium rate and at the teacher’s expense, subject to insurability covered by the carrierthis agreement.

Group Term Life Insurance Plan. (1) The Board shall provide group term l i fe life insurance equal to two times the annual earnings taken to the next higher $ 1 ,000$1,000. and spouse coverage of $12,00018,000. prorated to the percentage of teaching time. The Board shall pay 50100% of the premium. Teachers will have the option to purchase additional coverage to three (3) times salary at the Board Premium rate and at the teacher’s expense, subject to insurability by the carrier.