Basic Life AD&D – This benefit is paid on your behalf by Performance Plastics. The benefit is based on your hired position is payable to your beneficiary if you were to pass away. There is also a dismemberment schedule. If you were to lose a limb or eyesight, a portion of your benefit would be payable to you. The premiums are paid for 100% by Performance Plastics. Please note even if you waive other coverages, you are automatically enrolled in this benefit if you are considered full time. Your beneficiary(ies) should be on file with HR on your enrollment form and can be changed anytime throughout the year in written request to HR.
At no cost to you, Basic Life Insurance gives you:
- Coverage level is based on your hired position
- AD&D coverage as part of your life insurance
- The ability to convert to an individual policy if you leave the company
- Possible waiver of premiums if you become disabled
- Possible accelerated death benefit if you are diagnosed with a terminal disease
The Voluntary Life benefit is a supplemental benefit and is voluntary.
The employee benefit is in $1,000 increments to a max of $100,000 and is payable to your beneficiary if you were to pass away. You may also enroll your spouse and/or your child(ren) as long as you enroll.
The spouse benefit is $5,000 increments a max of $50,000 not to exceed 50% of the employee elected amount. A child benefit is available, also.
The child benefit is either $5,000 or $10,000 coverage options. Please note you pay one child rate based on the benefit amount, even if covering more than one child, there is a single deduction.
Additional benefit information can be found in your Voluntary Life Summary which is located under Resources.
