Life Insurance Continuation Sample Clauses

Life Insurance Continuation. For the duration of the Benefits Continuation Period, Executive shall be reimbursed for life insurance coverage premiums (or provided life insurance coverage) at the same level of coverage as was provided to Executive immediately prior to his employment termination and at the same ratio of Company premium payment to Executive premium payment as was in effect immediately prior to such employment termination; provided, however that such coverage, premium payments, or reimbursements (to the extent Employee pays the premiums in the interim) shall be delayed six months and one day from Employee’s termination date (and then paid in full in arrears) to the extent required to avoid the imposition of additional tax under U.S. Internal Revenue Code Section 409A.
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Life Insurance Continuation. Company agrees to pay on behalf of Executive the premiums for continuation of his current life insurance coverage for the duration of the statutory continuation period.
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Life Insurance Continuation. In lieu of Tekelec’s continuation of Former Employee’s life insurance benefits after the Termination Date, the Severance Allowance described in Section 6.2 below has been increased by the amount of $1800.00. Any conversion or continuation of life insurance after the Termination Date shall be at Former Employee’s sole expense in accordance with the terms of applicable life insurance policy.
Sample 1
Life Insurance Continuation. The Company will pay the premiums for the continuation of your life insurance coverage during the Severance Period either: (i) under the Company’s group life insurance policy, if such conversion or continuation is permitted; or (ii) if such conversion or continuation is not permitted, then it will pay the premiums for a term life insurance policy with a comparable benefit. You are not entitled to a cash payment in substitution for the life insurance premiums to be paid by the Company. As a condition to your obtaining benefits pursuant to this Section 2(i), you must comply with reasonable requests for medical information or physical examination from any insurance company prospectively issuing a policy for the coverage under this Section 2(i).
Sample 1
Life Insurance Continuation. Tekelec (at its expense) will continue, for a period of 18 months following the Termination Date and provided that Employee remains insurable (under the same underwriting criteria and at a premium not exceeding 110% of the premium being paid at such Termination Date) during such 18 months, such term life insurance in like amount and on the same terms and conditions as is in effect for such officer immediately prior to his Termination Date.
Sample 1
Life Insurance Continuation. The Company shall maintain in good standing for a period of twelve (12) months following the Separation Date, the life insurance policy maintained at Met Life in the approximate amount of $500,000 for the benefit of Executive and his designated beneficiaries.
Sample 1
Life Insurance Continuation. Basic and supplemental life insurance plans may be converted and/or ported to an individual policy if you apply within 30 days from the end of the severance period. A conversion form and a portability form will be provided to you. Unemployment Compensation You are subject to the unemployment insurance laws of Illinois.
Sample 1
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Related to Life Insurance Continuation

  • Insurance Continuation The Board shall continue to pay the Board contribution necessary to continue all medical, dental, and life insurance plans for the employee while he/she is on leave under this article.

  • Continuation Coverage Consistent with state and federal laws, certain employees, former employees, dependents, and former dependents may continue group health, dental, and/or life coverage at their own expense for a fixed length of time. As of the date of this Agreement, state and federal laws allow certain group coverages to be continued if they would otherwise terminate due to:

  • Benefit Continuation You and your then eligible dependents shall continue to be covered by and participate in the group health and dental care plans (collectively, “Health Plans”) of the Company (at the Company’s cost) in which you participated, or were eligible to participate, immediately prior to the Date of Termination through the end of the Benefit Continuation Period; provided, however, that any medical or dental welfare benefit otherwise receivable by you hereunder shall be reduced to the extent that you become covered under a group health or dental care plan providing comparable medical and health benefits. You shall be eligible to participate in such Health Plans on terms that are at least as favorable as those in effect immediately prior to the Date of Termination. However, in the event that the terms of the Company’s Health Plans do not permit you to participate in those plans (other than pursuant to an election under the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”)), in lieu of your and your eligible dependent’s coverage and participation under the Company’s Health Plans, the Company shall pay to you within fifteen (15) calendar days after the effective date of the Waiver and Release a lump sum equal to two (2) times your monthly COBRA premium amount for the number of months remaining in the Benefit Continuation Period. In addition, for the purposes of coverage under COBRA, your COBRA event date will be the date of loss of coverage described in this paragraph above.

  • Benefits Continuation (a) For leaves taken pursuant to Clauses 26.01, 26.02, and 26.07, the Employer shall maintain coverage for medical, extended health, dental, group life and long term disability, and shall pay the Employer's share of these premiums.

  • Life Insurance Coverage a. Fifteen Thousand ($15,000) Dollars life insurance policy with AD&D from an insurance carrier selected by the Board, subject to the provisions of this section. Such insurance shall pay double in the case of accidental death or dismemberment.

  • 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.

  • Key Man Life Insurance The Company may apply for and obtain and maintain a key man life insurance policy in the name of Executive together with other executives of the Company in an amount deemed sufficient by the Board, the beneficiary of which shall be the Company. Executive shall submit to physical examinations and answer reasonable questions in connection with the application and, if obtained, the maintenance of, as may be required, such insurance policy.

  • Life Insurance No portion of your IRA may be invested in life insurance contracts.

  • Term Life Insurance The Employer will maintain and make available to full-time and part-time employees, the current term life insurance plan as set forth in the document "Summary of Health Benefits, Maryland State Employees."

  • Salary Continuation If the Executive becomes totally disabled during the term of this Agreement, his full salary shall be continued for 360 days from the date of the disabling injury or onset of the disability illness.

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