Eligible regular full-time employees shall be covered by term life insurance in the amount equal to their normal annual base hourly pay or salary up to fifty thousand ($50,000). This amount automatically reduces in increments after the age of 65 as defined by the plan; for more information please contact HR. The employee may also purchase, at the employee's expense, additional amounts of life insurance for himself or herself or dependents. Details of this plan are defined in the actual insurance policy.
Coverage for life insurance will begin on the first day of the month following the completion of sixty (60) calendar days of full time employment.