Life Insurance and Disability Benefits Sample Clauses

Life Insurance and Disability Benefits. The Employee shall be entitled to group term life insurance insuring the Employee’s life during the term of employment, disability insurance coverage, and accidental death and dismemberment benefits, including death benefit, in such amounts and in such coverage as shall be consistent with the insurance coverage programs available to other salaried employees of the Company, as the same may change from time to time. The Employee shall designate the beneficiary of such policy and benefits.
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Life Insurance and Disability Benefits. The Company will pay the full cost of the Life 24 Insurance, Accidental Death and Dismemberment, and Short-Term Disability Plans for eligible
Sample 1
Life Insurance and Disability Benefits. The Company shall provide you with term life insurance in the amount of $3,000,000 (or at the Company’s option, reimbursement of premiums paid by you for such policy up to a maximum annual premium reimbursement of $10,000). The Company will also provide you with disability insurance with monthly benefits of $20,000 in the event of your total disability (or reimburse premiums paid by you for such policy). Taxes related to any payments for life insurance and disability insurance are your responsibility and, accordingly, the Company will withhold taxes applicable to such payments.
Sample 1
Life Insurance and Disability Benefits. The Company will pay the full cost of the 28 Life Insurance, Accidental Death and Dismemberment, and Short-Term Disability Plans for 29 eligible employees. 30 31 1110.2(a)(1) The Life Insurance benefit is two (2) times the annual base wage, including 32 shift differential if applicable, but excluding overtime hours, to a maximum benefit of 33 $150,000. 35 1110.2(a)(2) Short-term disability benefit $300 per week for twenty-six (26) weeks; 1 however, weekly benefit for disabilities covered by Workers' Compensation is $150. 2
Sample 1
Life Insurance and Disability Benefits. The provisions of the Employee Benefit Plan Supplemental Agreement dated April 21, 1989 for the Associated Non-Operating Railway Unions is amended to conform with the following in respect of employees covered by this Memorandum of Settlement: Life Insurance • Effective the first of the month following ratification, the group life insurance coverage will be increased from $37,000 to $38,000 for employees who have compensated service with the Company on or subsequent to that date if otherwise qualified under the provisions of the Benefit Plan. • Effective January 1, 2009, the group life insurance coverage will be increased from $38,000 to $39,000 for employees who have compensated service with the Company on or subsequent to that date if otherwise qualified under the provisions of the Benefit Plan. • Effective January 1, 2010, the group life insurance coverage will be increased from $39,000 to $44,000.00 for employees who have compensated service with the Company on or subsequent to that date if otherwise qualified under the provisions of the Benefit Plan. • Effective the first of the month following ratification, amend the Group Term Insurance Policy to provide a benefit of $150,000 to an employee’s beneficiary, upon a work related accidental death of an employee.
Sample 1

Related to Life Insurance and Disability Benefits

  • ’ Compensation Insurance and Disability Benefits Requirements Sections 57 and 220 of the New York State Workers’ Compensation Law require the heads of all municipal and state entities to ensure that businesses applying for contracts have appropriate workers’ compensation and disability benefits insurance coverage. These requirements apply to both original contracts and renewals. Failure to provide proper proof of such coverage or a legal exemption will result in a rejection of any contract renewal. Proof of workers’ compensation and disability benefits coverage, or proof of exemption must be submitted to OGS at the time of policy renewal, contract renewal and upon request. Proof of compliance must be submitted on one of the following forms designated by the New York State Workers’ Compensation Board. An XXXXX form is not acceptable proof of New York State workers’ compensation or disability benefits insurance coverage. Proof of Compliance with Workers’ Compensation Coverage Requirements:

  • Life and Disability Insurance The Company will provide term life and disability insurance payable to the Employee, in each case in an amount up to a maximum of one times the Employee’s base salary in effect from time to time, provided however, that such amount will be reduced by the amount of any life insurance or death or disability benefit coverage, as applicable, that is provided to the Employee under any other benefit plans or arrangements of the Company. Such policies will be in accordance with the Company’s standard policies from time to time with respect to such insurance and the rules established for individual participation in such plans and under applicable law.

  • Death and Disability (a) The Employment Term shall terminate on the date of Employee's death, in which event Employee's Salary, reimbursable expenses and benefits owing to Employee through the date of Employee's death shall be paid to his estate. Employee's estate will not be entitled to any other compensation upon termination of this Agreement pursuant to this subparagraph 8(a).

  • Long Term Disability Benefits A benefit level of seventy percent (70%) of monthly earnings shall apply. Benefits would commence after a waiting period of seventeen (17) weeks, when Short Term Disability Benefits terminate. Terms of the Master Policy with the Insurance Company shall apply. Statement of Intent In order to go on LTD, the person must:

  • Long Term Disability Benefit In the event an employee, while covered under this plan, becomes totally disabled as a result of an accident or a sickness, then, after the employee has been totally disabled for seven (7) months, including periods approved in Section 1.3(a) and (c), he/she shall be eligible to receive a monthly benefit as follows:

  • For death and disability The Company may also terminate the Employment, at any time, without notice or remuneration (unless notice or remuneration is specifically required by applicable law, in which case notice or remuneration will be provided in accordance with applicable law), if:

  • Life Insurance Benefits A. During the life of this Agreement, the basic life insurance benefit made available to Faculty members shall be calculated as 3 times base annual earnings, rounded to the next highest $1,000, but not more than $225,000. A separate additional benefit up to the amount of the life insurance will be paid for accidental death and dismemberment, or loss of sight. The amount of Life and Accidental Death and Dismemberment/Loss of Sight benefits will be reduced to 65% at age 65, and further reduced (from the original insurance amount) as follows: to 50% at age 70, and 35% at age 75. Basic life insurance and AD&D benefits will be provided with no employee contributions.

  • Disability Benefits Technology Errors and Omissions Not less than $1,000,000 each claim Not less than $2,000,000 in aggregate At the time of the first transaction with an Authorized User and updated in accordance with Contract Crime Insurance Not less than $50,000 Lot 3 Insurance Type Proof of Coverage is Due Commercial General Liability Not less than $5,000,000 each occurrence Updated in accordance with Contract General Aggregate $2,000,000 Products – Completed Operations Aggregate $2,000,000 Personal and Advertising Injury $1,000,000 Business Automobile Liability Insurance Not less than $5,000,000 each occurrence Workers’ Compensation

  • Life Insurance Upon Retirement 32.1 An employee who retires from the service of the Corporation subsequent to August 1, 2001, will, provided he is 55 years of age or over and has not less than 10 years' cumulative compensated service, be entitled to the sum of $8,000.00 payable to his estate upon his death.

  • Optional Life and Disability Coverages In order for coverage to become effective, the employee must be in active payroll status and not using sick leave on the first day following approval by the insurance company. If it is an open enrollment period, coverage may be applied for but will not become effective until the first day of the employee's return to work.

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