Term Life and Accidental Death and Dismemberment Insurance. The Board shall purchase from a carrier licensed by the State of Ohio, at no cost to the employee, term life insurance in the amount of $50,000.00, and an equal amount of accidental death and dismemberment coverage.
Term Life and Accidental Death and Dismemberment Insurance. The Board shall provide each professional employee who works half-time or more, term life insurance in the amount of one and one-half (1 1/2) times the professional employee's annual salary rounded to the next thousand dollars as well as benefits for accidental death and dismemberment. Except for new hires, coverage shall be adjusted once each year to become effective on November 1 based on the sum of all contracts as of October 15 of each year.
Term Life and Accidental Death and Dismemberment Insurance. The Board shall purchase from a carrier licensed by the State of Ohio, group term life insurance in the amount of fifty thousand dollars ($50,000) plus an equal amount of accidental death and dismemberment coverage for each member of the Employee Unit now or hereinafter employed. The full cost of such insurance and any increases thereof shall be paid by the Board. Employees over the age of 70 will receive 50% of the amount referenced above as per the insurance provider. Purchase of Additional Coverage Bargaining unit members may purchase additional life insurance at the group rate in $5,000 increments, up to a maximum of $20,000 coverage in addition to Board paid coverage. Modifications to this provision may be necessary to comply with requirements of the insurance carrier. If, as of July 1, 2006, any employee had purchased additional coverage in excess of $20,000, the employee may maintain the amount purchased.
Term Life and Accidental Death and Dismemberment Insurance. The Board shall provide $10,000 term life and accidental death and dismemberment insurance to employees as long as it meets the guidelines within the life insurance plan documents with the carrier.
