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Staff
Handbook:
Employment Policies and Procedures:
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Part I — Earlham Benefits
Section 5
Group Term Life Insurance
All full-time employees are covered by a group
term life insurance policy with a basic amount of $40,000. Each
employee must designate a beneficiary. Premiums are paid by Earlham.
The basic amount of life insurance will be reduced
to $26,000 on the employee’s
65th birthday; to $20,800 on the 70th birthday; to $17,680 on the 75th birthday;
and is discontinued when an employee ceases his/her full-time status for any
reason.
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