Agenda Item Details: Approval of Term Life Insurance Plan for 2011
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I. Motion to be considered:
To approve $20,000 term life insurance rates from Cigna as a part of the board paid plan. This will become effective January 1, 2011.
II. Rationale:
In past years term life insurance has been a part of board paid benefits. Insurance premiums will remain unchanged from 2010. Total cost of this benefit is $22,620 annually (based on 612 participants).
To approve $20,000 term life insurance rates from Cigna as a part of the board paid plan. This will become effective January 1, 2011.
II. Rationale:
In past years term life insurance has been a part of board paid benefits. Insurance premiums will remain unchanged from 2010. Total cost of this benefit is $22,620 annually (based on 612 participants).