All quotations should show the monthly premium rate per $1,000 of coverage, regardless of policy term. The School District would prefer three (3) year policies without an annualization endorsement for any coverage available. Term of policies will receive due consideration in analyzing quotations for the award of insurance. All life insurance coverage should be for two times (2X) current salary rounded up to the next $1,000 to a maximum of $500,000, except for those employees hired after July1, 2010 in the North Colonie Teachers Association, whose life insurance policy is $50,000. The District’s current Group Term Life Insurance Policy is net of commissions. All things being equal, the District plans to continue to purchase Group Term Life Insurance under this arrangement.
