Common use of HEALTH AND WELFARE PLAN Clause in Contracts

HEALTH AND WELFARE PLAN. The following benefits shall be provided to employees as per A-1: Life Insurance Coverage is for one (1X) times the employees annual earnings rounded to the next highest multiple of $1,000 to a maximum of $500,000. It is reduced by 50% at age 65 and terminates at age 70 or retirement whichever is earlier.

HEALTH AND WELFARE PLAN. The following benefits shall be provided to employees as per A-1: Life Insurance Coverage is for one (1X) times the employees annual earnings rounded to the next highest multiple of $1,000 to a maximum of $500,00025,000. It is reduced by 50% at age 65 and terminates at age 70 or retirement whichever is earlier. Dependent Life Insurance Coverage is $5,000 for the spouse and $2,500 for each dependent child. It terminates at the employees’ age 70 or retirement whichever is earlier.