All full-time employees engaged in covered employment at least thirty hours per week, are eligible to receive group term life insurance. Such employees in our employ become eligible on the day of hire of continuous employment with us. The Group Policy is the insurance contract between the Policyholder and Unum Provident Life Insurance Company. The employer will pay the entire cost of the premium for the coverage. Employees will be covered without the requirement for rating through medical exam or questionnaire. The amount of coverage will be equal to one times the employee’s projected annual earnings and raised to the next higher $1,000 level.