Life Insurance
Basic Life Insurance
Pernod Ricard USA pays two times your annual base salary, subject to maximums as outlined in the plan documents, in Basic Life Insurance and basic Accidental Death and Dismemberment.
Supplemental Life Insurance
You can supplement your Basic Life Insurance by electing supplemental coverage for yourself, your spouse and your dependent children.
Evidence of Insurability (EOI) will be required on any elections over the Guaranteed Issued Amounts or any increases for Supplemental Employee Life. Your new coverage amount will go into effect when your application is approved by the insurance company. You pay federal income taxes on the imputed value of company-paid life insurance over $50,000.
Disability
Short-Term Disability (STD)
Your STD benefits continue all or a portion of your income for up to a maximum of 26 weeks. Benefits generally begin after seven consecutive days of qualifying disability. Your continued income depends on your years of service.
STD benefits are reduced by or coordinated with any state disability benefits you may be eligible to receive. Benefits are coordinated with other income sources, including company-sponsored sick leave programs or federally mandated disability plans, such as Social Security. If you receive benefits from other income sources, the amount of your STD benefits will be reduced. Note: If you live in a state that has state-sponsored temporary disability insurance benefits, please contact NA.HumanResources@Pernod-Ricard.com for information about applying for benefits.
Long-Term Disability (LTD)
Once you have been disabled for 180 days due to a qualifying illness or injury, you can apply for long-term disability benefits. The LTD Plan will pay benefits up to 60% of your annual base pay, up to a maximum of $17,500 per month. Benefits are coordinated with other sources of income, such as Workers’ Compensation and Social Security. If you receive benefits from these other sources, your LTD benefits may be reduced. This benefit is considered taxable income when you receive it. LTD benefits end when you reach age 65 or when you no longer meet the disability definition.
