Basic Life Insurance and Accidental Death and Dismemberment (AD&D)
Always be there financially for your loved ones. Life Insurance ensures your family’s future is financially secure if you’re no longer there to provide for them.
Plexus provides Basic Term Life Insurance and AD&D coverage at no cost to you through MetLife. We also offer additional options to give you the ability to assemble a complete Life Insurance portfolio.
Watch this video to learn more.
Basic TERM Life insurance
Class 1 - Salaried & Hourly-Support Team Members: Equal to 1.5x your base salary, up to a maximum of $500,000.
Class 2 - Hourly Team Members: Equal to 1x your base salary, up to a maximum of $125,000.
Class 3 - All Executive Team Members: 1.5x your base salary, up to a maximum of $750,000.
AD&D
You will be eligible for AD&D equal to your Basic Life benefit.
Voluntary Life insurance and Accidental Death and Dismemberment (AD&D)
You may also choose to purchase Voluntary Life Insurance coverage in addition to the company-paid benefit. You pay the total cost of this benefit through convenient payroll deductions.
Team Member Benefit
Increments: $10,000
Maximum Coverage: $500,000, not to exceed 10x your annual earnings
Guaranteed Issue: $150,000, rates are age-banded
Spouse
Increments: $5,000
Maximum Coverage: $250,000, not to exceed 50% Team Member's election
Guaranteed Issue: $75,000, rates are age-banded
Child(ren)
Increments: $1,000, $5,000, or $10,000
Maximum Coverage: $10,000, flat rate applies
One policy covers all children up to 26 years of age
What is Guaranteed Issue?
Guaranteed Issue is the dollar amount that will be issued without submitting proof of insurability, such as answering medical questions on an application or completing a medical exam. Check with the Plexus Benefits Team to see if you’re eligible for the Guaranteed Issue amount.
NOTES:
- Coverage is only available to the spouse and dependent child(ren) if the team member elects coverage.
- Spouse rate is based on the spouse age.
Disability Insurance
Your ability to bring home a paycheck is your most valuable asset, and we help you protect it.
Disability Insurance provides income protection, paying a portion of your salary that you can use to offset out-of-pocket expenses and make up for lost wages.
Watch this video to learn more.
Short Term Disability (STD)
If an injury or illness forces you out of work for an extended period of time, you qualify for STD benefits. The company provides basic coverage through MetLife at no cost to you. Enrollment is automatic.
Plan Funding
100% employer paid
Benefit Percentage
100% of base earnings for first 8 weeks 60% of base earnings weeks 9-26*
Eligibility
All full-time Team Members working 30 hours or more per week Coverage begins on the first of the month following 90 days of service
Benefit Begins (Injury/Illness)
Benefits begin after you miss work due to illness or injury for 7 consecutive days For a hospitalization or surgery, benefits begin on the first day
Benefit Duration
Up to 26 weeks
NOTES:
*The length of time you receive STD is dependent upon medical certification by your health care provider and governed by the terms of the plan(s) as stated in their respective plan document(s).
Long Term Disability (LTD)
When your disability continues beyond the period covered by the STD plan, you qualify for LTD benefits. Just like STD benefits, the company provides coverage through MetLife at no cost to you. Enrollment is automatic.
Class 1 - Salaried & Hourly-Support Team Members
Plan Funding
100% employer paid
Benefit Percentage
Up to 60% of monthly earnings
Maximum Monthly Benefit
Up to a maximum of $12,000 per month
Benefit Begins (Injury/Illness)
After 180 days from the disability occurrence or upon exhaustion of STD benefits
Benefit Duration
Required benefit date with Social Security normal retirement age
Class 2 - Hourly Team Members
Plan Funding
100% employer paid
Benefit Percentage
Up to 60% of monthly earnings
Maximum Monthly Benefit
Up to a maximum of $12,000 per month
Benefit Begins (Injury/Illness)
After 180 days from the disability occurrence or upon exhaustion of STD benefits
Benefit Duration
Required benefit date with Social Security normal retirement age
Class 3 - Executive Team Members
Plan Funding
100% employer paid
Benefit Percentage
Up to 60% of monthly earnings
Maximum Monthly Benefit
Up to a maximum of $20,000 per month
Benefit Begins (Injury/Illness)
After 180 days from the disability occurrence or upon exhaustion of STD benefits
Benefit Duration
Required benefit date with Social Security normal retirement age
ABOUT THIS DIGITAL BENEFITS HUB: Actual plan provisions for PLEXUS (“the Company”) benefits are contained in the appropriate plan documents, including the Summary Plan Description (SPD) and incorporated benefit/carrier booklets. The Digital Benefits Hub is a summary only and does not describe each benefit option. This Digital Benefits Hub provides updates to your existing SPD as of the first day of the plan year, which describes your health and welfare benefits in greater detail. Until the Company provides you with an updated SPD, this Digital Benefits Hub is intended to be a Summary of Material Modification (SMM) and should be retained with your records along with your SPD. As always, the official plan documents determine what benefits are available to you. If any discrepancy exists between this Digital Benefits Hub and the official documents, the official documents will prevail. The Company reserves the right to amend or terminate any of its plans or policies, make changes to the benefits, costs, and other provisions relative to benefits at any time with or without notice, subject to applicable law.