There are circumstances under which an employee may elect or be reassigned to a position in a lower salary band. When an employee is reassigned to a job in a lower salary band on an involuntary basis, the employeeâs salary may be decreased to reflect the responsibilities of the new job. The supervisor and Human Resources will discuss salary implications in advance of the employeeâs change in position.
Term life insurance covers a person for a fixed term, usually 10 or 20 years, though some companies offer term policies in one-year increments from three to 30 years. Whole life insurance, by contrast, provides coverage from the day a person takes out the policy until the day he dies.
1 Check the mail for up to one year after death for premium notices, which are usually sent annually. 2  If the policy is paid up, there may not be any notice of premium payments due. 3  However, you may find an annual statement regarding the status of the policy, or even a notice of dividend.ut if youâre unsure whether youâre the beneficiary of a life insurance policy, you may be at a dead end if you donât have a copy of the policy or know which company issued it.