The vendor is required to provide life and accidental death and dismemberment insurance for eligible management employees.
- Classification of insured persons
• Full-time employees
- Basic life insurance
• Insurance is equal to three (3) times the insured person’s annual earnings rounded to the next higher $1000, with a maximum of $425,000
- Basic add insurance
• The amount of insurance is equal to three (3) times the insured person’s annual earnings rounded to the next higher $1000, with a maximum of $425,000
- The basic life insurance and basic accidental death and dismemberment insurance will reduce 35% on the insured person's 65th birth date and will reduce an additional 15% on the insured person's 70th birth date.
- Contract Period/Term: 1 year