(Effective date: First day of month after hire date)
(Carrier: The Lincoln National Life Insurance Company)
Group term life insurance coverage is provided to all regular full-time employees of Allegheny College. The life insurance coverage is 1-1/2 times the employee’s annual base salary, subject to a maximum amount of insurance of $250,000. Life insurance coverage for the employee is provided at no cost to the employee. The amount of insurance coverage in excess of $50,000 is taxable to the employee pursuant to Federal tax law and will be added to taxable income.