Title
Authorization to execute a renewal agreement with Transamerica Life Insurance Company for the Voluntary Whole Life Plan for all Lexington-Fayette Urban County Government employees. There are no changes in coverage. All employees who participate in the Guaranteed Issue Whole Life policy will receive up to $150,000 in coverage with accelerated benefits to support both Long Term Care and terminal illness. There is no charge to Lexington-Fayette Urban County Government. (L1128-24) (George/Hamilton)
Summary
Authorization to execute a renewal agreement with Transamerica Life Insurance Company for the Voluntary Whole Life Plan for all Lexington-Fayette Urban County Government employees. There are no changes in coverage. All employees who participate in the Guaranteed Issue Whole Life policy will receive up to $150,000 in coverage with accelerated benefits to support both Long Term Care and terminal illness. There is no charge to Lexington-Fayette Urban County Government. (L1128-24) (George/Hamilton)
Budgetary Implications [select]: NO
Advance Document Review:
Law: { Select Yes Completed by Michael Cravens, 10/30/2024
Risk Management: {Select Yes/No, Completed by [Official, Date]}
Fully Budgeted [select]: Yes/No/Partial
Account Number:
This Fiscal Year Impact: $
Annual Impact: $
Project:
Activity:
Budget Reference:
Current Balance:
Body
{COUNCIL CLERK’S OFFICE WILL COMPLETE - Body of resolution or ordinance}