Contribution Formula - Basic Life Coverage Sample Clauses

The Contribution Formula - Basic Life Coverage clause defines how the responsibility for paying benefits is shared when an individual is covered by more than one basic life insurance policy. In practice, this clause outlines the method for determining the proportion of the benefit each insurer must pay, typically based on the coverage amounts provided by each policy. This ensures that the total payout does not exceed the actual loss or the combined policy limits, thereby preventing over-insurance and ensuring fair allocation of liability among insurers.
Contribution Formula - Basic Life Coverage. For employee basic life coverage and accidental death and dismemberment coverage, the Employer contributes one-hundred (100) percent of the cost.
View SourceView Similar (163)
Contribution Formula - Basic Life Coverage. For ASF Member basic life coverage and accidental death and dismemberment coverage, the Employer contributes one- hundred (100) percent of the cost.
View SourceView Similar (26)
Contribution Formula - Basic Life Coverage. For faculty members’ basic life coverage and accidental death and dismemberment coverage, the Employer contributes one hundred percent (100%) of the cost.
View SourceView Similar (19)
Contribution Formula - Basic Life Coverage. For teacher basic life coverage and accidental death and dismemberment coverage, the Employer contributes one-hundred (100) percent of the cost.
View SourceView Similar (13)
Contribution Formula - Basic Life Coverage. For nurse basic life coverage and accidental death and dismemberment coverage, the Employer contributes one hundred percent (100%) of the cost.
View SourceView Similar (3)
Contribution Formula - Basic Life Coverage. For supervisor basic life coverage and accidental 9 cost.
View Source

Related to Contribution Formula - Basic Life Coverage

  • Contribution Formula Dental Coverage Faculty Member Coverage. For faculty member dental coverage, the Employer contributes an amount equal to the lesser of ninety percent (90%) of the faculty member premium of the State Dental Plan, or the actual faculty member premium of the dental plan chosen by the faculty member. However, for calendar years beginning January 1, 2018, and January 1, 2019, the minimum employee contribution shall be thirteen dollars and fifty cents ($13.50) per month.

  • Life Coverage Paragraph 1: The Board shall provide a group term life coverage in the sum of $30,000 for all teachers employed half time or more. Any increases in coverage shall not be effective until the teacher reports or is able to report for work.

  • Retirement Contributions On behalf of employees, the State will continue to “pick up” the six percent (6%) employee contribution, payable pursuant to law. The parties acknowledge that various challenges have been filed that contest the lawfulness, including the constitutionality, of various aspects of PERS reform legislation enacted by the 2003 Legislative Assembly, including Chapters 67 (HB 2003) and 68 (HB 2004) of Oregon Laws 2003 (“PERS Litigation”). Nothing in this Agreement shall constitute a waiver of any party’s rights, claims or defenses with respect to the PERS Litigation.