GROUP TERM LIFE INSURANCE COVERAGE Sample Clauses

The Group Term Life Insurance Coverage clause establishes the provision of life insurance benefits to a group of individuals, typically employees of a company, under a single master policy. This coverage generally provides a specified death benefit to beneficiaries if a covered individual passes away during the term of employment, with premiums often paid in whole or in part by the employer. The core function of this clause is to ensure financial protection for employees' families and dependents, addressing the need for accessible and affordable life insurance within a group setting.
GROUP TERM LIFE INSURANCE COVERAGE. During the term
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GROUP TERM LIFE INSURANCE COVERAGE. The Board shall provide, without cost to the employee, group term life insurance in the amount of $10,000 for each full-time teacher per. Upon reaching 70 years in age, the policy will reduce by 50%, as mandated by the insurance carrier. **Medical premiums shall be stated in a separate document as part of the financial schedules. Any full-time employee shall be entitled to terminal pay for accumulated sick leave at the time that employee elects to receive normal or early retirement benefits or is approved for disability retirement benefits. Payment will be made to his/her beneficiary if service is terminated by death. Determination of such terminal pay may not exceed an amount determined as follows: During the first three (3) years of service, the daily rate of pay multiplied by 35% times the number of days of accumulated sick leave; during the next three (3) years of service, the daily rate of pay multiplied by 40% times the number of days accumulated sick leave; during the next three (3) years of service the daily rate of pay multiplied by 45% times the number of days accumulated sick leave; during the next three (3) years of service the daily rate of pay multiplied by 50% times the number of days accumulated sick leave; and during and after the thirteenth (13th) year of service, the daily rate of pay multiplied by 100% times the number of days accumulated sick leave.
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GROUP TERM LIFE INSURANCE COVERAGE. During the term of this Agreement, the City shall provide each full time employee with a paid Five Thousand Dollar ($5,000) group term life insurance policy which has an additional $5,000 accidental death and dismemberment clause. Effective January 1, 2003, the amount of group term life insurance provided shall be increased to $10,000 per full-time employee.
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GROUP TERM LIFE INSURANCE COVERAGE. The CITY shall provide each full-time officer with a twenty thousand dollar ($20,000) group term life insurance policy. Officers may purchase additional life insurance for themselves and/or their dependents as provided for in accordance with the CITY's life insurance program.
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GROUP TERM LIFE INSURANCE COVERAGE. During the term of this Agreement, the City shall provide each full-time employee with a paid ten thousand dollar ($10,000) group term life insurance policy.
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Related to GROUP TERM LIFE INSURANCE COVERAGE

  • Group Term Life Insurance The Welfare Plan will include Group Term Life Insurance in accordance with the following Table of Hourly Job Rate Brackets and corresponding coverages. Benefits will be payable as a result of death from any cause on a twenty-four (24) hour coverage basis.

  • 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.

  • Insurance Coverages Tenant shall obtain, at its sole cost and expense, beginning on the Commencement Date and shall maintain through the Lease Term, the following insurance coverages: (a) A policy of commercial general liability insurance (including Insurance Service Office (ISO) forms and endorsements or their equivalent) naming Landlord, Tenant and any other party designated by Landlord as an additional insured, to insure against injury to property, person or loss of life arising out of the ownership, use, occupancy or maintenance of the Project with limits of general liability not less than $10,000,000 for death and/or bodily injury, personal injury, advertising injury and property damage. The policy shall contain supplemental endorsements covering contractual liability as provided in an ISO liability policy under the definition of insured contract. (b) A policy providing commercial property insurance containing the insuring agreement "Cause of Loss-Special Form" or its equivalent, together with such endorsements as may be deemed advisable by Landlord to insure the Improvements, Tenant's leasehold improvements, merchandise, trade fixtures, furnishings, equipment and personal property, and naming Landlord and any other party designated by Landlord in connection with a securitization or financing of the Project as an additional insured. Such policy shall provide coverage in an amount not less than the full replacement cost of the Project. An "Agreed Amount Clause" waiving the coinsurance clause must be included, as well as, if commercially reasonable and obtainable, flood and earthquake coverage at limits equal to the maximum foreseeable loss at the location of the Project. Such coverage must include the expense of tearing down any Improvements, including the cost of removing its debris and increased cost of construction coverage. (c) A policy of workers' compensation insurance must be provided that insures the benefits required by the State law and includes coverage B Employer's Liability. The Employer's liability limits must be at least: Bodily Injury By Accident $1,000,000 Each Accident Bodily Injury By Disease $1,000,000 Policy Limit Bodily Injury By Disease $1,000,000 Each Employee Landlord does not, by requiring such insurance or by any other act or event, assume or undertake liability for any work-related injuries or death to Tenant or Tenant's employees. (d) If Tenant commits or permits any activity or the placing or operation of any equipment on or about the Project creating unusual hazards, Tenant shall promptly upon notice or demand from Landlord, procure and maintain in force, during such activity or operation, insurance sufficient to cover the risks created thereby. Landlord's demand for unusual hazard insurance shall not constitute a waiver of any right Landlord may have to demand the removal or cessation of such activity or operation. (e) In the event Tenant is in the business of manufacturing, distributing, selling, servicing or furnishing alcoholic beverages, a policy of alcoholic beverage and liquor liability insurance naming Landlord and any other party designated by Landlord in connection with the securitization or financing of the Project as an additional insured with limits of not less than $10,000,000 per occurrence. The limits may be obtained through a primary and an excess policy. (f) A policy of business interruption insurance with an "Extra Expense" insuring agreement naming Landlord and any other party designated by Landlord as an additional insured providing coverage of not less than twelve (12) months of Rent and other business income. (g) All other insurance, if any, customarily maintained by businesses of like type, or required by any Legal Requirement to be carried or maintained by Tenant, or as otherwise may be reasonably required by Landlord, including but not limited to, boiler and machinery coverage, innkeepers liability coverage, automobile and garagekeepers liability coverage, service interruption coverage, food spoilage coverage and coverage for employee dishonesty and loss of money and securities. Tenant may comply with the provisions of this Article by providing the foregoing insurance coverage under a blanket policy covering other Projects and properties of Tenant as well as the Project, provided that the amount of insurance thereunder allocated to the Project is not less than that required herein, and the blanket policy otherwise complies as to endorsements and coverage with the provisions of this Article. Evidence of insurance in compliance with this Section 9.1 shall be provided to Landlord fifteen (15) days prior to the Commencement Date and, with respect to any renewal policy, thirty (30) days prior to the expiration of the existing policy. A copy of such insurance policies will be provided by Tenant to Landlord upon Tenant's receipt from its insurance company.