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U.S. Code as of:
01/03/05
Section 8704. Group insurance; amounts
(a) An employee eligible for insurance is entitled to be insured
for an amount of group life insurance equal to -
(1) the employee's basic insurance amount, multiplied by
(2) the appropriate factor determined on the basis of the
employee's age in accordance with the following schedule:
If the age of the employee is The
appropriate
factor is:
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35 or under 2.0
36 1.9
37 1.8
38 1.7
39 1.6
40 1.5
41 1.4
42 1.3
43 1.2
44 1.1
45 or over 1.0.
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(b) An employee eligible for insurance is entitled to be insured
for group accidental death and dismemberment insurance in
accordance with this subsection. Subject to the conditions and
limitations approved by the Office of Personnel Management which
are contained in the policy purchased by the Office, the group
accidental death and dismemberment insurance provides payment as
follows:
Loss Amount payable
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For loss of life Full amount of the employee's basic
insurance amount.
Loss of one hand or of One-half the amount of the employee's
one foot or loss of basic insurance amount.
sight of one eye
Loss of two or more Full amount of the employee's basic
such members insurance amount.
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For any one accident the aggregate amount of group accidental death
and dismemberment insurance that may be paid may not exceed an
amount equal to the employee's basic insurance amount.
(c) The Office shall prescribe regulations providing for the
conversion of other than annual rates of pay to annual rates of pay
and shall specify the types of pay included in annual pay. For the
purpose of this chapter, "annual pay" includes -
(1) premium pay under section 5545(c)(1) of this title; and
(2) with respect to a law enforcement officer as defined in
section 8331(20) or 8401(17) of this title, premium pay under
section 5545(c)(2) of this title.
(d) In determining the amount of insurance to which an employee
is entitled -
(1) a change in rate of pay under subchapter VI of chapter 53
of this title is deemed effective as of the first day of the pay
period after the pay period in which the payroll change is
approved; and
(2) a change in rate of pay under section 5344 or 5349 of this
title is deemed effective as of the date of issuance of the order
granting the increase or the effective date of the increase,
whichever is later, except, that in the case of an employee who
dies or retires during the period beginning on the effective date
of the increase and ending on the date of the issuance of the
order granting the increase, a change in rate of pay under either
of such sections shall be deemed as having been in effect for
such employee during that period.
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