Common use of Life Insurance Clause in Contracts

Life Insurance. The Board shall provide term life and accidental death and dismemberment coverage in the amount of $50,000 for each employee. Bargaining unit members may purchase additional term life insurance at the group rate, in $5,000 increments, up to a maximum of $60,000 coverage in addition to Board paid coverage. Modifications to this provision may be necessary to comply with requirements of the insurance carrier. The value of the life insurance reduces by 50% at age 65. The specific terms of the policy are contained in the life insurance contract.

Appears in 13 contracts

Samples: Classified Employees, Classified Employees, Negotiated Agreement

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Life Insurance. 1. The Board shall will provide term life and accidental death pay premium for a Seventy Thousand Dollar ($70,000) Term Life Insurance Policy including Accidental Death and dismemberment coverage in the amount of $50,000 Dismemberment for each employeefull time certificated/licensed bargaining unit member. Bargaining unit members may purchase additional term life insurance at the group Board rate, in $5,000 increments, up to a maximum of $60,000 coverage in addition to Board paid coverage. Modifications to this provision may be necessary to comply with requirements of if approved by the insurance carrier. The value of the life insurance reduces by 50% at age 65. The specific terms of the policy are contained in the life insurance contract.

Appears in 7 contracts

Samples: Master Agreement, Master Agreement, Master Agreement

Life Insurance. 11.0201 The Board shall provide term life and accidental death and dismemberment coverage in the amount of $50,000 for each employee. Bargaining unit members may purchase additional term life insurance at the group rate, in $5,000 increments, up to a maximum of $60,000 coverage in addition to Board paid coverage. Modifications to this provision may be necessary to comply with requirements of the insurance carrier. The value of the life insurance reduces by 50% at age 65. The specific terms of the policy are contained in the life insurance contract.

Appears in 4 contracts

Samples: Agreement, Agreement, Agreement

Life Insurance. The Board shall agrees to provide term life and accidental death and dismemberment coverage in the amount of $50,000 35,000 for each employee. Bargaining unit members may purchase additional term life insurance at the group rate, rate in $5,000 increments, up to a maximum of $60,000 coverage in addition to Board paid coverage. Modifications to this provision may be necessary to comply with requirements of the insurance carrier. The value of the life insurance reduces by 50% at age 65. The specific terms of the policy are contained in the life insurance contract.

Appears in 4 contracts

Samples: dam.assets.ohio.gov, dam.assets.ohio.gov, serb.ohio.gov

Life Insurance. The Board shall provide purchase and assume 100% of the costs for term life and insurance for all certificated employees. This term life insurance shall be a $40,000 life policy with a $40,000 accidental death and dismemberment coverage in the amount of feature. Part-time staff members shall be covered proportionate to their service; i.e., half-time staff shall be provided with $50,000 for each employee. Bargaining unit members may purchase additional term life insurance at the group rate, in $5,000 increments, up to a maximum of $60,000 coverage in addition to Board paid 20,000 coverage. Modifications to this provision may be necessary to comply with requirements of the insurance carrier. The value of the life insurance reduces by 50% at age 65. The specific terms of the policy are contained in the life insurance contract.

Appears in 4 contracts

Samples: Master Contract, Master Contract, Master Contract

Life Insurance. The Board shall provide term life and accidental death and dismemberment coverage in the amount of $50,000 65,000 for each employee. Bargaining unit members may purchase additional term life insurance at the group rate, in $5,000 increments, up to a maximum of $60,000 coverage in addition to Board paid coverage. Modifications to this provision may be necessary to comply with requirements of the insurance carrier. The value of the life insurance reduces by 50% at age 65. The specific terms of the policy are contained in the life insurance contract.

Appears in 4 contracts

Samples: Negotiated Agreement, Negotiated Agreement, Negotiated Agreement

Life Insurance. The Board shall provide term life and accidental death and dismemberment coverage in the amount of $50,000 40,000 for each employee. Bargaining unit members may purchase additional term life insurance at the group rate, in $5,000 increments, up to a maximum of $60,000 coverage in addition to Board paid coverage. Modifications to this provision may be necessary to comply with requirements of the insurance carrier. The value of the life insurance reduces by 50% at age 65. The specific terms of the policy are contained in the life insurance contract.

Appears in 3 contracts

Samples: Article 1: Agreement, Classified Employees, Master Agreement

Life Insurance. The Board shall provide term life and accidental death and dismemberment coverage in the amount of $50,000 30,000 for each employee. Bargaining unit members may purchase additional term life insurance at the group rate, in $5,000 increments, up to a maximum of $60,000 coverage in addition to Board paid coverage. Modifications to this provision may be necessary to comply with requirements of the insurance carrier. The value of the life insurance reduces by 50% at age 65. The specific terms of the policy are contained in the life insurance contract.

Appears in 3 contracts

Samples: Master Agreement, Master Agreement, serb.ohio.gov

Life Insurance. The Board shall provide term life and accidental death and dismemberment coverage in the amount of $50,000 30,000 for each employee. Bargaining unit members may purchase additional term life insurance at the group rate, in $5,000 increments, up to a maximum of $60,000 50,000 coverage in addition to Board paid coverage. Modifications to this provision may be necessary to comply with requirements of the insurance carrier. The value of the life insurance reduces by 50% at age 65. The specific terms of the policy are contained in the life insurance contract.

Appears in 3 contracts

Samples: Negotiated Agreement, Negotiated Agreement, Negotiated Agreement

Life Insurance. The Board shall provide term life and accidental death and dismemberment coverage in the amount of $50,000 25,000 for each nine (9) and twelve (12) month employee. Bargaining unit members may purchase additional term life insurance at the group rate, in $5,000 increments, up to a maximum of $60,000 coverage in addition to Board paid coverage. Modifications to this provision may be necessary to comply with requirements of the insurance carrier. The value of the life insurance reduces by 50% at age 65. The specific terms of the policy are contained in the life insurance contract.

Appears in 3 contracts

Samples: dam.assets.ohio.gov, dam.assets.ohio.gov, serb.ohio.gov

Life Insurance. The Board shall provide term life and accidental death and dismemberment coverage in the amount of $50,000 40,000 for each full-time employee. For 25 hours/week but less than full time, the amount shall be $25,000 and less than 25 hours /week shall be $20,000. Bargaining unit members may purchase additional term life insurance at the group rate, in $5,000 increments, up to a maximum of $60,000 50,000 coverage in addition to Board paid coverage. Modifications to this provision may be necessary to comply with requirements of the insurance carrier. The value of the life insurance reduces by 50% at age 65. The specific terms of the policy are contained in the life insurance contract.

Appears in 3 contracts

Samples: dam.assets.ohio.gov, serb.ohio.gov, serb.ohio.gov

Life Insurance. β€Œ The Board shall provide term life and accidental death and dismemberment coverage in the amount of fifty thousand dollars ($50,000 50,000) for each employeebargaining unit member. Bargaining unit members may purchase additional term life insurance at the group rate, in $5,000 increments, up to a maximum of $60,000 coverage in addition to Board paid coverage. Modifications to this provision may be necessary to comply with requirements of the insurance carrier. The value of the life insurance reduces by 50% at age 65. The specific terms of the policy are contained in the life insurance contract.

Appears in 2 contracts

Samples: dam.assets.ohio.gov, serb.ohio.gov

Life Insurance. The Board shall provide term life and accidental death and dismemberment coverage in the amount of $50,000 50,000.00 for each employee. Bargaining unit members may purchase additional term life insurance at the group rate, in $5,000 increments, up to a maximum of $60,000 50,000 coverage in addition to Board paid coverage. Modifications to this provision may be necessary to comply with requirements of the insurance carrier. The value of the life insurance reduces by 50% at age 65. The specific terms of the policy are contained in the life insurance contract.

Appears in 2 contracts

Samples: dam.assets.ohio.gov, serb.ohio.gov

Life Insurance. The Board shall provide term life and accidental death and dismemberment coverage in the amount of fifty thousand dollars ($50,000 50,000) for each employeebargaining unit member. Bargaining unit members may purchase additional term life insurance at the group rate, in $5,000 increments, up to a maximum of $60,000 coverage in addition to Board paid coverage. Modifications to this provision may be necessary to comply with requirements of the insurance carrier. The value of the life insurance reduces by 50% at age 65. The specific terms of the policy are contained in the life insurance contract.

Appears in 2 contracts

Samples: serb.ohio.gov, serb.ohio.gov

Life Insurance. The Board shall provide term life and accidental death and dismemberment coverage in the amount of fifty thousand dollars ($50,000 50,000.00) for each employee. Bargaining unit members may purchase additional term life insurance at the group rate, in five thousand-dollar ($5,000 5,000) increments, up to a maximum of sixty thousand dollars ($60,000 60,000) coverage in addition to Board paid coverage. Modifications to this provision may be necessary to comply with requirements of the insurance carrier. The value of the life insurance reduces by fifty percent (50% %) at age sixty-five (65). The specific terms of the policy are contained in the life insurance contract.

Appears in 2 contracts

Samples: Master Agreement, Master Agreement

Life Insurance. The Board shall provide term life and accidental death and dismemberment coverage in the amount of $50,000 40,000 for each employeeemployee working 25 hours or more. Bargaining unit members may purchase additional term life insurance at the group rate, in $5,000 increments, up to a maximum of $60,000 coverage in addition to Board paid coverage. Modifications to this provision may be necessary to comply with requirements of the insurance carrier. The value of the life insurance reduces by 50% at age 65. The specific terms of the policy are contained in the life insurance contract.

Appears in 2 contracts

Samples: dam.assets.ohio.gov, serb.ohio.gov

Life Insurance. The Board shall provide term life and accidental death and dismemberment coverage in the amount of $50,000 23,000 for each employee. Bargaining unit members may purchase additional term life insurance at the group rate, in $5,000 increments, up to a maximum of $60,000 coverage in addition to Board paid coverage. Modifications to this provision may be necessary to comply with requirements of the insurance carrier. The value of the life insurance reduces by 50% at age 65. The specific terms of the policy are contained in the life insurance contract. DENTAL INSURANCE (effective January 1, 2017 through the COG) The Board shall provide dental coverage and pay 100% of the premium.

Appears in 2 contracts

Samples: Master Agreement, Master Agreement

Life Insurance. The Board shall provide term life and accidental death and dismemberment coverage in the amount of $50,000 30,000 for each employeebargaining unit member. Bargaining unit members may purchase additional term life insurance at the group rate, in $5,000 increments, up to a maximum of $60,000 coverage in addition to Board paid coverage. Modifications to in this provision may be necessary to comply with requirements of the insurance carrier. The value of the life insurance reduces by 50% at age 65. The specific terms of the policy are contained in the life insurance contract.

Appears in 2 contracts

Samples: serb.ohio.gov, serb.ohio.gov

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Life Insurance. The Board shall provide term life and accidental death and dismemberment coverage in the face amount of twenty-five thousand dollars ($50,000 25,000) with double indemnity for each employee. Bargaining unit members may purchase additional term life insurance at the group rate, in five thousand dollar ($5,000 5,000) increments, up to a maximum of sixty thousand dollars ($60,000 60,000) coverage in addition to Board paid coverage. Modifications to this provision may be necessary to comply with requirements of the insurance carrier. The value of the life insurance reduces by fifty percent (50% %) at age 65. The specific terms of the policy are contained in the life insurance contract.

Appears in 1 contract

Samples: Agreement

Life Insurance. The Board shall provide term life and accidental death and dismemberment coverage in the amount of $50,000 50,000.00 for each employee. Bargaining unit members may purchase additional term life insurance at the group rate, in $5,000 increments, up to a maximum of $60,000 coverage in addition to Board paid coverage. Modifications to this provision may be necessary to comply with requirements of the insurance carrier. The value of the life insurance reduces by 50% at age 65. The specific terms of the policy are contained in the life insurance contract.

Appears in 1 contract

Samples: Negotiated Agreement

Life Insurance. The Board shall provide term life and accidental death and dismemberment coverage in the amount of fifty thousand dollars ($50,000 50,000.00) for each employee. Bargaining unit members may purchase additional term life insurance at the group rate, rate in increments of five thousand dollars ($5,000 increments5,000), up to a maximum of sixty thousand dollars ($60,000 60,000) coverage in addition to Board Board-paid coverage. Modifications Modification to this provision may be necessary to comply with requirements of the insurance carrier. The value of the life insurance reduces by 50% at age 65. The specific terms of the policy are contained in the life insurance contract.

Appears in 1 contract

Samples: Agreement

Life Insurance. The Board shall provide term a group life insurance policy for all active full-time employees at no cost to the employee. The life insurance shall be $50,000 life and accidental death and dismemberment coverage in the amount of an additional $50,000 for each employeeaccidental loss of life. Bargaining unit members may purchase additional term life insurance at Compensation for dismemberment shall be provided in accordance with the group rate, in $5,000 increments, up to a maximum of $60,000 coverage in addition to Board paid coverage. Modifications to this provision may be necessary to comply schedule established with requirements of the insurance carrier. The value basic life and supplemental life are subject to an age reduction schedule of the life insurance reduces by 5045% at age 6570, 30% at age 75, and 20% at age 80. The specific terms of No group life or accidental death and dismemberment policy shall be negotiated with any carrier which exceeds the policy are contained percentage reductions reflected in the life insurance contractthis article.

Appears in 1 contract

Samples: mauryk12.org

Life Insurance. The Board shall provide term life and accidental death and dismemberment coverage in the amount of $50,000 for each eligible employee. Bargaining unit members may purchase additional term life insurance at the group rate, in $5,000 increments, up to a maximum of $60,000 coverage in addition to Board paid coverage. Modifications to this provision may be necessary to comply with requirements of the insurance carrier. The value of the life insurance reduces by 50% at age 65. The specific terms of the policy are contained in the life insurance contract.

Appears in 1 contract

Samples: Negotiated Agreement

Life Insurance. The Board shall will provide term life and accidental death and dismemberment coverage term group life insurance and pay the premium for full-time employees (six [6] hours or more per day) in the an amount of $50,000 for each employee35,000. Bargaining unit members Employees may purchase additional term life coverage amounting to $10,000 with the premium being paid totally by the employee. Rates and insurance at the group rate, in $5,000 increments, up to a maximum of $60,000 coverage in addition to Board paid coverage. Modifications to this provision may be necessary to comply with company requirements of the insurance carrier. The value of the life insurance reduces by 50% at age 65. The specific terms of the policy are contained in the life insurance contractfor participation will prevail.

Appears in 1 contract

Samples: go.boarddocs.com

Life Insurance. The Board shall provide term life and accidental death and dismemberment coverage in the amount of $50,000 70,000 for each employee. Bargaining unit members may purchase additional term life insurance at the group rate, in $5,000 increments, up to a maximum of $60,000 coverage in addition to Board paid coverage. Modifications to this provision may be necessary to comply with requirements of the insurance carrier. The value of the life insurance reduces by 50% at age 65. The specific terms of the policy are contained in the life insurance contract. For the purpose of life insurance/insurance, an employee is defined as a full-time bus driver/aide. Part-time employees shall receive $12,000 Board paid life insurance.

Appears in 1 contract

Samples: Contract

Life Insurance. 1. The Board shall provide term life and accidental death and dismemberment coverage in the amount of $50,000 35,000 for each employee. Bargaining unit members may purchase additional term life insurance at The Board will pay 100% of the group rate, in premium. $5,000 increments, up to a maximum of $60,000 50,000 coverage in addition to Board paid coverage. Modifications to this provision may be necessary to comply with requirements of the insurance carrier. The value of the life insurance reduces by 50% at age 65. The specific terms of the policy are contained in the life insurance contract.

Appears in 1 contract

Samples: Collective Bargaining Agreement

Life Insurance. The Board shall provide term life and accidental death and dismemberment coverage in the amount of $50,000 for each equal to one (1) times the employee’s present salary rounded to the nearest thousand. Bargaining unit members may purchase additional term life insurance at the group rate, in five thousand dollar ($5,000 5,000) increments, up to a maximum of sixty thousand dollars ($60,000 60,000) coverage in addition to Board paid coverage. Modifications Modification to this provision may be necessary to comply with requirements of the insurance carrier. The value of the life insurance reduces by to 50% at age 65. The specific terms of the policy are contained in the life insurance contract.

Appears in 1 contract

Samples: Master Agreement

Life Insurance. The Board shall provide term life and accidental death and dismemberment coverage in the amount of $50,000 for each employeebargaining unit member. Bargaining unit members may purchase additional term life insurance at the group rate, in $5,000 increments, up to a maximum of $60,000 coverage in addition to Board paid coverage. Modifications to this provision may be necessary to comply with requirements of the insurance carrier. The value of the life insurance reduces by 50% at age 65. The specific terms of the policy are contained in the life insurance contract.

Appears in 1 contract

Samples: serb.ohio.gov

Life Insurance. The Board shall provide term life and accidental death and dismemberment coverage in the amount of $50,000 70,000 for each employee. Bargaining unit members may purchase additional term life insurance at the group rate, in $5,000 increments, up to a maximum of $60,000 coverage in addition to Board paid coverage. Modifications to this provision may be necessary to comply with requirements of the insurance carrier. The value of the life insurance reduces by 50% at age 65. The specific terms of the policy are contained in the life insurance contract.

Appears in 1 contract

Samples: dam.assets.ohio.gov

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