Life Insurance and Disability Programs

To help protect our associates and their family's financial situation in the event of illness, accident, or death, Major Pharmaceuticals offers the following plans:

Life Insurance

Major Pharmaceuticals provides coverage equal to one and one half an associate's annual salary or targeted income, up to a maximum of $300,000. This coverage also includes Accidental Death and Dismemberment (AD&D) insurance that provides benefits for loss of life, limbs or sight due to an accident.

Associate Life Supplemental Insurance

Associates may elect to increase their employer-provided life insurance coverage and choose from one to five times their annual salary up to a specified maximum. This coverage is optional and associates pay the premium for this coverage.

Family Life Insurance

Associates may elect to purchase this coverage for eligible dependents including spouse and/or children. This coverage is optional and associates pay the premiums through after-tax payroll deductions.

Sick Leave

The Company provides paid sick/personal leave benefits to both salary and hourly associates who are regular, full-time employees.

Short Term Disability (STD) Coverage

This coverage replaces a portion of an associate's income for up to 13 weeks should the associate become ill or injured and unable to work due to a non-work related circumstance. Associates are eligible for coverage on the first day of the month following 90 days of continuous employment (Pre-existing condition limitations may apply). This is a company paid benefit.

Long Term Disability (LTD) Coverage

This coverage pays a portion of an associate's income if the associate is unable to work due to a non-work related disabling condition persisting longer than 90 days (Pre-existing condition limitations may apply). This program provides coverage for 60% of the associate's monthly earnings up to a maximum monthly benefit of $10,000 at no cost to the associate until age 65.

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