Income Protection

Income Protection Programs

To help you protect those you love from the unexpected, Welch Packaging provides all full-time, active employees, with Basic Life Insurance and Accidental Death and Dismemberment (AD&D) Insurance - at no cost to you. These coverages are provided through Lincoln Financial. AD&D benefits are paid in addition to any life insurance if you pass away in an accident or become seriously disabled. Additional Life insurance is available for employees and their families.

Short-Term Disability insurance provided by Welch Packaging, and Voluntary Long-Term Disability insurance works together to help you pay your household expenses if you become disabled and cannot work. These disability benefits also work with other sources of coverage to replace a certain percentage of your earnings.

Basic Life and AD&D Insurance

Basic Life and AD&D

Basic Life Insurance pays your beneficiary a lump sum if you die. AD&D (Accidental Death & Dismemberment) coverage provides a benefit to you if you suffer from loss of a limb, speech, sight, or hearing, or to your beneficiary if you have a fatal accident.

Welch Packaging provides you with Basic Life and AD&D for all full-time employees working 30 hours per week. This coverage is provided at no cost to you. See benefits below:

Class 1, 2, 3: Full-time non-production - 1x your basic annual earnings
Class 4: Full-time production - $25,000 benefit

Please note: The benefit reduces to 65% at age 65, 50% at age 70, and 25% at age 75.

Basic Life and AD&D Benefit Summaries:

Class 1: Full-time Executives

Class 2: Full-time Non-Production and Commission Employees over $50k

Class 3: Full-time Non-Production Employees under $50k

Class 4: Full-time Production Employees

Beneficiaries

Life insurance provides a valuable financial safety net for your loved ones in the event of your death. By naming a beneficiary, you select the person who will receive your life insurance policy benefits when you pass away. Group life benefits are generally not taxable to your beneficiary, regardless of the amount. The interest on the amount payable to your beneficiary is the only taxable portion.

Primary Beneficiary: The person(s) you name to receive life insurance benefits (proceeds) upon your death.

Secondary Beneficiary: The person(s) you name to receive life insurance proceeds in the event that the primary beneficiary passes away before or at the same time as you, the insured.

How much life insurance do you need?

Many financial experts recommend you have five to eight times your household income in life insurance. To calculate your needs, consider your current income, how much it costs to maintain your family's standard of living, current expenses, and future financial needs such as:

Current Expenses	Future
Home Mortgage Car Payments Credit Card Debt Other Debt	Childcare College Tuition Spouse's Retirement

Additional Resources:

Funeral Prep Information

TravelConnect Information

LifeKeys Services Information

Voluntary Life & AD&D Insurance

Protecting those you leave behind

Supplemental Life Insurance allows you to purchase additional life insurance to protect your family's financial security. When you elect Supplemental Life insurance, you will automatically be enrolled in the matching AD&D amount.

Coverage is available for your spouse and/or child(ren) if you purchase coverage for yourself, on a post-tax basis.

Evidence of Insurability

Evidence of Insurability (EOI) is an application process which you provide information on the condition of your health or your dependent's health in order to be considered for coverage. EOI is required if you purchase new Supplemental Life Insurance or increase your coverage amount above the guaranteed issue amount. EOI certifies that you're generally healthy at the time of purchase, and a determination may take several weeks or months. Your new coverage amount won't begin until it is approved.

Lincoln EOI Guide

You can purchase:

Term Life Insurance is an important part of your benefits. It's not easy to think about, but an unexpected death in the family could burden the surviving family members with large expenses on less income. Purchasing additional term life insurance could assist your loved ones with mortgage payments, funeral expenses, medical expenses, childcare expenses, etc.

Guaranteed issue amounts are available to you one time as a new hire at your initial benefits eligibility. If you are not a new hire electing benefits for the first time, you must complete a health questionnaire, and coverage is not guaranteed.

Term Life Benefit*	Employee	Spouse	Dependent Child
Term Life: Benefit paid to designated beneficiary upon death of insured. Coverage is for a certain term and has no cash value.	Choice of $10,000 increments, not to exceed $500,000	Choice of $10,000 increments, not to exceed $500,000 (Employee must elect coverage for spouse to be eligible)	Choice of $2,000 increments, not to exceed $10,000 (Employee must elect coverage for child to be eligible)
Minimum Amount	$10,000	$10,000	$2,000
Maximum Amount	$500,000	$150,000	$10,000
Guaranteed Issue: Available amounts shown are offered to any eligible applicant (employee and dependent(s)) without regard to health status if you enroll during the initial new employee waiting period. No medical questions are asked on the application unless the amount applied for exceeds the amounts shown.	$150,000 If you enroll after your initial eligibility period, benefits are subject to medical underwriting (EOI)	$50,000 or 100% of employee's election is available on a guaranteed acceptance basis within your new employee waiting period. If you enroll your spouse after the initial eligibility period, benefits are subject to medical underwriting (EOI).	$10,000 of coverage is available on a guaranteed acceptance.

Voluntary AD&D Benefit	Employee	Spouse	Dependent Child
Term AD&D: Benefit paid to designated beneficiary upon death of insured.	Loss of Life: $50,000	Loss of Life: $25,000	Loss of Life: $10,000

AD&D Loss of Life, Limb, Sight, Speech, or Hearing if due to injury: Claims must be submitted within 365 days of loss.

AD&D Schedule:

100%: Loss of Life, Hearing, Speech
50%: Loss of Speech or Hearing
35%: Loss of thumb and index finger of same hand
Benefits Reduction: 50% at age 65; additional 25% at age 70; terminates at retirement

Additional Benefits
Waiver of Premium	Benefits available if you become totally disabled prior to age 60 for a minimum of 6 months.
Accelerated Death Benefit	Cash advance against the death benefit available if insured has a terminal illness.
Portability	You may continue your term life insurance coverage when employment ends by paying the required premiums.
Conversion	You may apply to convert your term life insurance to a whole life policy at termination of employment.
Basic Life and Supplemental Benefit Age Reductions	The benefit reduces to 65% at age 65, 50% at age 70, and 25% at age 75.

Disability Benefits

Expect the unexpected

Welch Packaging recognizes the importance of your financial well-being in the event of a disability. Most of us insure our homes, automobiles, and other assets, yet we often overlook our most valuable asset - our ability to earn an income! Your regular monthly obligations such as your mortgage or rent, utility bills, food, and other necessities, continue even if you are unable to work.

Short-Term Disability (STD) Insurance

A disabling injury or illness that keeps you out of work could have a serious impact on your income, jeopardizing your ability to cover normal household expenses.

Welch Packaging provides all full-time eligible associates short-term disability coverage after 12 months of continuous service and who are FMLA eligible.

Qualified associates are eligible for up to 11 weeks of Short-Term Disability benefits following the completion of a two-week waiting period.
You must be unable to work due to an FMLA-qualifying serious personal illness or injury.
During the waiting period, associates are required to use available paid leave (vacation, PTO, and/or PLAWA). The use of vacation time does not extend the total STD benefit period. Additionally, any scheduled holiday that occurs during the STD leave will be paid at the STD rate and will not extend the duration of the leave.

Benefit in Weeks	Percent of Earnings Paid
2 week waiting period	0%
Weeks 3 through 5	75%
Weeks 6 through 9	70%
Weeks 10 through 11	65%
Weeks 12 through 13	60%

Long-Term Disability (LTD) Insurance

** New as of 2026! **

Welch Packaging provides all full-time eligible associates core long-term disability coverage.

You must be completely disabled due to an injury or illness for 90 days to be eligible for benefits.
The monthly benefit is reduced by Social Security or other income you receive.
Core LTD benefit duration is 2 years, provided you remain disabled.

Voluntary LTD Insurance	Amount
Monthly Benefit Amount	60% of your salary
Maximum Benefit Amount	$2,000 per month
Elimination Period	90 days

*Employees who qualify were automatically enrolled in the core LTD plan, effective 4/1.

Voluntary Long Term Disability (LTD) Insurance - Buy-Up Option

Long Term Disability provides cash benefit following a period of time that you miss work due to a covered sickness or injury.

You must be completely disabled due to an injury or illness for 90 days to be eligible for benefits.
The monthly benefit is reduced by Social Security or other income you receive.
LTD benefits continue to age 65, provided you remain disabled.

Voluntary LTD Insurance	Amount
Monthly Benefit Amount	60% of your salary
Maximum Benefit Amount	$8,000 per month
Elimination Period	90 days

Pre-existing condition limitation: 3/12. Any condition in which medical treatment, consultation, diagnostic procedures, medications received 3 months prior to your effective date, will be excluded until you have been treatment-free or on the plan for 12 continuous months.

You may enroll in Voluntary Long-Term Disability during the Open Enrollment period. Benefits are guaranteed during the Open Enrollment period. Subsequent years will require medical underwriting. Rates are based on your income and banded in five-year increments. Age bands subject to change on the calendar year following a birthday ending in 0 or 5.

Please contact your Human Resources Manager for more specific details regarding this important benefit.

Filing an LTD Claim

Lincoln EOI Guide

Continue to Wellness