Ask a legal question, get an answer ASAP!
Click here to chat with a lawyer about your rights.

Terms Used In 4 Guam Code Ann. § 4303

  • Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
  • Dependent: A person dependent for support upon another.
(a) The Governor is authorized to enter into contracts with one or more insurance companies authorized to do business in Guam for Group Life Insurance for all employees or separate groups of employees for the government of Guam.

(b) Participation by employee, as employees are defined in Subsection (d) of this Section, in such contracts of life insurance shall provide coverage for up to a face amount of Ten Thousand Dollars ($10,000), and shall be non-contributory by the employees, the premium to be paid by the government of Guam.

(c) (1) Contracts of life insurance procured under the foregoing Subsection (b) shall be limited to a face amount of up to Ten Thousand Dollars ($10,000.00), including charges for accidental death and dismemberment. Coverage under such non-contributory plan shall commence after an employee has served six (6) consecutive months service in the government of Guam upon initial employment or re-employment. Retirees, and survivors of retirees, shall be covered as of the day they become retirees, or survivors of retirees.

(2) Supplemental life insurance coverage may also be procured as an added benefit for all employees, pursuant to a plan design of benefits, as approved by I Maga’lahen Guåhan [Governor of Guam]. For active employees, the face amount of such supplemental coverage for employees shall be at least Thirty Thousand Dollars ($30,000.00), the premium for which shall be paid entirely by the employee. For retired employees, the face amount of such supplemental coverage for retirees shall be at least Five Thousand Dollars ($5,000.00), with increments of the same thereafter, the premium for which shall be paid entirely by the retiree.

(3) The total premium for the face amount of such supplemental coverage shall be paid entirely by the employee. Such supplemental insurance shall be on a voluntary basis, and may include such features as: graduated benefits, accidental death and dismemberment, and waiver of premium. Dependent coverage may be included as part of the supplemental coverage. The Department of Administration of the government of Guam, or the government of Guam Retirement Fund, as appropriate, may provide payroll deductions for payment of the premiums for such supplemental coverage.

(d) Employees as used in this Section include officers, survivors of officers, survivors of employees, retired employees and survivors of retired employees who are receiving annuity benefits.

(e) Notwithstanding any other provision of law, the government of Guam shall self insure the government of Guam’s group life insurance program then in effect as of April 30, 1986, for a period not to exceed sixty (60) days from April 30, 1986, or until a private insurance company becomes the insurer for the government of Guam’s group life insurance program, whichever occurs first.

(1) There is hereby established a Group Life Insurance Fund from which claims shall be paid consistent with the terms and conditions in the government of Guam’s group life insurance policy then in effect prior to April 30, 1986.

(2) Premiums deducted from eligible subscribers on the government’s group life insurance policy then in effect prior to April 30, 1986, shall be remitted to the Group Life Insurance Fund.

(3) The government is authorized to fund the Group Life Insurance Fund effective May 1, 1986 with projected premium receipts covering the period of self-insurance.

(4) Effective January 1, 1997, the Group Life Insurance Fund is hereby abolished and dissolved and any and all remaining balances of the Group Life Insurance Fund are reverted to the General Fund. All revenue previously in this Fund, or which was earmarked to be placed in this Fund, shall continue to be collected and credited to the General Fund.

SOURCE: § 4152 Guam Code Ann.; originally added as GC § 4020; amended by P.L.
10-192; Subsection (d) further amended by P.L. 14-119; renumbered to § 4152 Guam Code Ann. by P.L. 16-023. Subsection (e) added by P.L. 18-033:20. Subsection (b) and (c) Repealed and reenacted by P.L. 20-224:9. Repealed by P.L. 23-128:IV:30. Reenacted in the present form by P.L. 24-014:18. Subsection (c) amended by P.L. 26-043:2.

2018 NOTE: Subitem designations added in subsection (c) pursuant to 1
GCA § 1606.