Supplemental Group Term Life Insurance. Full-time teachers will have the option, subject to the conditions established by the School District's carrier for group term life insurance as provided in Subd. 2. of this Section, to purchase supplemental group term life insurance in the amounts of $50,000, $75,000, $100,000, $125,000 or $150,000 not to exceed 3x annual salary. The cost of the supplemental coverage will be borne by the teacher and paid by payroll deductions.
Supplemental Group Term Life Insurance. Teachers working fewer than thirty-two (32) hours per week (.8 FTE contract) will have the option, subject to the conditions established by the School District's carrier for group term life insurance as provided in Section 2, to purchase supplemental group term life insurance in the amounts of $50,000, $75,000, $100,000, $125,000 or $150,000, not to exceed 3x annual salary. The cost of the supplemental coverage will be borne by the teacher and paid by payroll deduction.
Supplemental Group Term Life Insurance. Full-time Principals shall have the option, subject to the conditions established by the School Board's carrier for group term life insurance as provided in Section 5 of this Article to purchase supplemental group term life insurance with AD&D in the amounts of $100,000, $200,000, $300,000, or $400,000, etc., not to exceed four (4) times annual salary. In the event of early retirement, a Principal may continue to purchase supplemental life insurance until they reach the age of sixty-five (65).
Supplemental Group Term Life Insurance. Full-time teachers will have the option, subject to the conditions established by the School District's carrier for group term life insurance as provided in Subd. 2. of this Section, to purchase supplemental group term life insurance in the amounts of $50,000, $75,000, $100,000, $125,000 or $150,000 not to exceed 3x annual salary. The cost of the supplemental coverage will be borne by the teacher and paid by payroll deductions. Supplemental Group Term Life Insurance Yearly Cost per $10,000 of Coverage Rates Effective July 1, 2007 through June 30, 2009 Age Cost Per Year Age Cost Per Year Age Cost Per Year 24 or less $7.92 40 to 44 $13.92 60 to 64 $54.72 25 to 29 $9.12 45 to 49 $16.32 65 to 69 $113.52 30 to 34 $11.52 50 to 54 $21.12 70 to 74 $173.52 35 to 39 $12.72 55 to 59 $39.12 75 and up Not available
Supplemental Group Term Life Insurance. Employees will have the option of purchasing supplemental group term life insurance equal to 1x, 2x, or 3x their base pay (hourly wage times 2080), and pay the premiums through payroll deduction. The first $100,00 coverage will be issued without any evidence of insurability if the employee signs up for coverage when initially eligible. Evidence of insurability may be required by the insurance company: 1) If the employee declines coverage and later decides to enroll in the plan after the initial eligibility period, 2) if the employee decides to increase coverage as a multiple of base pay, or 3) for any coverage exceeding $100,000.
Supplemental Group Term Life Insurance. Full-time School Executives will have the option, subject to the conditions established by the School Board's carrier for group term life insurance as provided in Section 5 of this Article, to purchase supplemental group term life insurance with AD&D in the amounts of $50,000, $75,000, $100,000, $125,000, $150,000, $200,000, $300,000 or $400,000, not to exceed 4x annual salary. In the event of early retirement, an employee may continue to purchase this policy until he/she reaches the age of 65. The cost of the supplemental coverage will be borne by the employee and paid by payroll deduction.
