Long Term Income Protection Plan (LTIP Sample Clauses
The Long Term Income Protection Plan (LTIP) clause establishes an arrangement that provides employees with ongoing income replacement if they are unable to work due to a qualifying disability or illness. Typically, this clause outlines eligibility requirements, the percentage of salary to be paid, waiting periods before benefits begin, and the duration of coverage, such as until recovery or retirement age. Its core function is to offer financial security to employees facing long-term health challenges, thereby addressing the risk of income loss due to extended incapacity.
Long Term Income Protection Plan (LTIP. (a) The LTIP Plan shall be continued and shall be upon the same basis as heretofore in effect.
Long Term Income Protection Plan (LTIP. (a) The LTIP Plan shall be continued and shall be upon the same basis as heretofore in effect.
(b) Plan Details
(i) LTIP benefits will become payable if while insured the employee becomes “totally disabled” - benefits continue during disability to age sixty-five (65), after an elimination period of six (6) months, or the expiration of accumulated attendance credits, whichever is the later.
Long Term Income Protection Plan (LTIP. The Employer will maintain and provide an LTIP for qualified full-time employees who have been “totally disabled” for a period of longer than six (6) months. The LTIP will be as provided for all other direct gaming hourly employees of the Employer, as may be amended from time to time. Participation for full-time employees is mandatory. A full-time employee is eligible for coverage on the first day of the month coinciding with or following probation if he or she is a new employee or, alternatively, following two (2) months of continuous service in a full-time position.
Long Term Income Protection Plan (LTIP. (a) The L.T.I.P. Plan shall be continued and shall be upon the same basis as heretofore in effect.
Long Term Income Protection Plan (LTIP. (a) The Employer shall pay one hundred per cent (100%) of the premium of the L.T.I.P. Plan.