TERM LIFE INSURANCE COVERAGE Sample Clauses

TERM LIFE INSURANCE COVERAGE. Subject to Executive's insurability on a standard risk basis, Executive will be provided with term life insurance coverage for an amount equal to three times his Annual Base Salary, as adjusted annually. The Company, in its sole discretion, may fulfill its obligation hereunder, in whole or in part, by means of Executive's participation in the Company's group insurance plan for eligible employees of the Company. The Company shall purchase and maintain individual term life insurance on Executive's life to provide for such coverage amount that is not otherwise provided through the Company's group term life insurance for employees. Upon termination of his Employment other than for cause (as provided for in Section 5. 1), Executive shall be entitled, with no obligation of reimbursement to the Company, to exercise any option available to him under the individual insurance policies and/or contracts purchased and maintained by the Company, to assume ownership thereof and continue such policies and/or contracts in full force and effect.
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TERM LIFE INSURANCE COVERAGE. The District shall provide $50,000 term group life insurance for regular/contract faculty with the understanding that this term group life insurance reduces to $25,000 once the regular/contract faculty is over the age of seventy (70) due to provider limitations.
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TERM LIFE INSURANCE COVERAGE. The District will provide term life insurance coverage for full-time employees in the following amounts: First five (5) years in the District - Forty Thousand Dollars ($40,000.00) Over five (5) years in the District - Forty-five Thousand Dollars ($45,000.00).
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TERM LIFE INSURANCE COVERAGE. BANK shall provide YOO with the Bank Owned Life Insurance (BOLI). The BANK shall provide Yoo with term life insurance coverage in an initial amount not less than $500,000. If, during the term of this Agreement, the BANK adopts a plan providing life insurance benefits to other BANK employees and the maximum coverage under such plan exceeds the maximum coverage permitted under this Paragraph, then notwithstanding the limitations of this Paragraph, YOO shall be entitled to participate in the BANK’s life insurance benefit plan to the full extent that it is available to other BANK employees.
Sample 1
TERM LIFE INSURANCE COVERAGE. The City shall offer term life insurance with a benefit equal to the nearest $1,000 increment, greater than the employee’s base wage, to a maximum of $60,000 (the premium on a benefit in excess of $50,000 is taxable to the employee per Internal Revenue Code Section 79).
Sample 1

Related to TERM LIFE INSURANCE COVERAGE

  • Insurance Coverage The Company and each Subsidiary maintains in full force and effect insurance coverage that is customary for comparably situated companies for the business being conducted and properties owned or leased by the Company and each Subsidiary, and the Company reasonably believes such insurance coverage to be adequate against all liabilities, claims and risks against which it is customary for comparably situated companies to insure.

  • 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."

  • REINSURANCE COVERAGE Reinsurance under this Agreement will apply to insurance issued by the Ceding Company on the Plans of Insurance shown in Schedule A. Such Plans of Insurance shall be reinsured with the Reinsurer on an automatic basis, subject to the requirements set forth in Section A below, or on a facultative basis, subject to the requirements set forth in Section B below, or on a facultative obligatory basis, subject to the requirements set forth in Section C below. The specifications for all reinsurance under this Agreement are provided in Schedule B.

  • Insurance Coverages The Contractor shall procure and maintain, at its sole cost and expense, in a form and content satisfactory to City, during the entire term of this Agreement including any extension thereof, the following policies of insurance which shall cover all elected and appointed officers, employees and agents of City:

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

  • 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.

  • Certificate of Insurer – Insurance Coverage Concurrently with any delivery of financial statements under Section 8.01(a), a certificate of insurance coverage from each insurer with respect to the insurance required by Section 8.07, in form and substance satisfactory to the Administrative Agent, and, if requested by the Administrative Agent or any Lender, all copies of the applicable policies.

  • Life Insurance Policy In addition to the insurance coverage contemplated by Section 4(e), during the Employment Term the Company shall maintain in effect term life insurance coverage for the Executive with a death benefit of at least Five Hundred Thousand Dollars ($500,000), subject to the Executive's insurability at standard rates and with the beneficiary or beneficiaries, thereof designated by the Executive. Notwithstanding Section 9 of this Agreement, such life insurance policy or policies may be assigned to a trust for the benefit of any beneficiary designated by the Executive.

  • 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:

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