Voluntary Life Insurance. The College will provide a supplemental term life insurance program for faculty members. The monthly premiums will be paid 100% by the faculty member.
Voluntary Life Insurance. The City shall offer a voluntary supplemental life insurance plan through the flexible benefits plan for pre-tax contributions by the employees. Participation and coverage shall be in accordance with the terms and conditions of the insurance carrier. Employees may also elect pre-tax payroll deductions to support other City sponsored voluntary supplemental insurance benefits.
Voluntary Life Insurance. 1. All employees are eligible to purchase this coverage at their individual option. The plan provides protection in a flat amount equivalent to one (1) times the employee’s annual base earnings, two thousand and eighty (2,080) hours X base straight time hourly rate, rounded to the next higher even thousand dollars ($1,000) with accidental death and dismemberment provisions (AD&D). Premiums for this coverage are fully paid by the employee.
Voluntary Life Insurance. The employer agrees to provide opportunity for employees to access voluntary life insurance at no cost to the employer and subject to the conditions of the plan offered by the insurer. Such package will include the option to purchase additional employee life insurance to a maximum amount of two hundred and fifty thousand dollars ($250,000). If an employee purchases voluntary life insurance she may also purchase optional spousal life insurance, subject to the terms and conditions of the carrier’s plan. Life Insurance (100% Employer funded) Benefit Amount 2x annual earnings Maximum $240,000 NEM (Non Evidence Max) $240,000 Termination The end of the first complete month, following age 65 or retirement Accidental Death & Dismemberment (100% Employer funded) Benefit Amount 2x annual earnings Maximum $240,000 Termination The end of the first complete month, following age 65 or retirement Employee Optional Life Insurance (100% Employee funded) Benefit Amount Units of $10,000 Maximum $250,000 Termination The end of the first complete month, following age 65 or retirement Spousal Optional Life Insurance (100% Employee funded) Benefit Amount Increments of $10,000 Maximum $250,000 Termination To end of first complete month following age 65 of insured or employee retirement, whichever occurs first
Voluntary Life Insurance. Bargaining Unit Members shall have the opportunity to purchase voluntary group life insurance coverage on a payroll deduction basis subject to the terms and conditions of the insurance company’s plan provisions. Bargaining Unit Members may be required to submit medical evidence of insurability. Payroll deduction of premiums prior to approval does not mean coverage is effective. If the carrier does not approve coverage, any premium that has been collected will be returned.
Voluntary Life Insurance. Resident may purchase additional term life insurance for Resident and Resident’s eligible dependents as part of the PCH benefit package.
Voluntary Life Insurance. 24.15 The voluntary life insurance program provided by the CSU through the insurer(s) selected by the CSU shall be offered to eligible Unit 4 employees and eligible family members. The effective date shall be in accordance with the terms of the program.
Voluntary Life Insurance. All MHCD employees working 30+ hours per week, their spouses, domestic partners (regardless of gender - See definition of Domestic Partner in Section 19.10), and/or dependents (up to age 26) are eligible. If an employee desires additional life insurance coverage or coverage for spouse, same-sex domestic partner and/or children, coverage is available. Descriptions of available coverage limits are listed in Appendix A. Premiums are set by the insurer and are paid by the employee. Premiums are deducted from 24 pay checks per year on a pre-tax basis. Voluntary life insurance coverage begins on a schedule dictated by the insurer.
Voluntary Life Insurance. All employees are eligible to purchase this coverage at their individual option. The plan provides protection in a flat amount equivalent to two (2) times the employee's annual base earnings, two thousand and eighty (2,080) hours X base straight time hourly rate, rounded to the next higher even thousand dollars ($1,000). Premiums for this coverage are fully paid by the employee. Coverage reduces thirty-five percent (35%) of the Voluntary Life amount at age sixty-five (65), fifty percent (50%) at age seventy (70), sixty-five percent (65%) at age seventy-five (75) and will remain at the thirty-five percent (35%) level until employee retires. Employees who participate in either plan or both will be required to sign a payroll deduction authorization form for the premiums.
Voluntary Life Insurance. 5. Voluntary disability insurance
