Insurance and Disability

There are a few things to consider related to your income protection:

Arkema’s life insurance program offers financial benefits to you and your family in the event of your death. You will receive a basic life insurance benefit of 1x your annual base pay at no cost to you. You can also purchase optional supplemental insurance for yourself, your spouse and/or your eligible children.

The Business Travel Accident insurance plan provides accidental death and dismemberment coverage, at no cost to you, in the event that you suffer a permanent loss or die as the result of an accident while traveling on Arkema business.

The benefit is paid to your beneficiary in the event of your death. The amount of your benefits (or your beneficiary’s, if you die) depends on the extent of your injury. Your principal sum is 5x your annual base pay to a maximum of $1,000,000.

You have the option to purchase additional life and/or AD&D insurance for you and your eligible dependents, such as your spouse or dependent children (up to age 26). If you choose to enroll in optional coverage, the cost of this coverage will be deducted from your paycheck on an after-tax basis for optional life insurance, and a before-tax basis for optional AD&D insurance.

*The maximum coverage is $1,500,000 for each coverage level.

**The maximum coverage for spouse life insurance is $150,000. The maximum coverage for spouse AD&D insurance is $500,000. You cannot enroll for spouse life or spouse AD&D coverage if your spouse is also employed by Arkema.

Evidence of Insurability (EOI) is an application process in which you provide medical information regarding the condition of your health to enroll in certain coverages and the carrier chooses to provide the coverage or not. If approved, the coverage level and payroll deduction will change as of the date of approval.

For employee optional life insurance, EOI is required if you:

• Make an election or have an increase in pay that will result in an optional life insurance benefit of more than $500,000,
• Make an election that will result in an optional employee life insurance benefit of more than three times your annual base pay,
• Increase your current coverage by one or more levels,
• Request coverage when you had not previously enrolled for optional life coverage;, or
• Were previously declined any coverage amount by Securian.

For spouse life insurance, EOI is required if:

• You request an increase or have an increase in pay that will result in a benefit of more than $50,000,
• You increase your current spouse life insurance coverage by more than one level,
• Request spouse coverage when you had not previously enrolled for optional spouse life coverage;
• Your spouse was previously declined any coverage amount by Securian.

​No EOI is required for AD&D Insurance.

Arkema provides you with both short-term disability (STD) benefits and long-term disability (LTD) benefits and gives you the option to purchase an LTD buy-up option that provides a higher percent of pay and a higher maximum monthly LTD benefit in the event you are disabled.

Once you have worked at Arkema for six months, you are eligible to receive continued pay if you are absent from work due to an illness or injury, for up to 26 weeks.

The percentage of your short-term disability benefits is based on your years of service at the time of disability as follows:

• Greater than 6 months of service, but less than 2 years: 100% pay for up to two weeks; 66.66% pay for up to 24 weeks
• Greater than 2 years of service, but less than 3 years: 100% pay for up to 3 weeks; 66.66% pay for up to 23 weeks
• Greater than 3 years: 100% pay for up to 26 weeks
• If you are located in a state with state disability benefits, your STD benefits are coordinated with those available from the state where you work. The benefits differ by State, but Arkema works with Lincoln Financial Group to direct employees to the benefits and processes for their location.

Long-Term Disability coverage provides you with ongoing income if an illness or injury prevents you from working beyond 26 weeks. The basic LTD benefit is 60% of your annual base pay (up to $5,000 per month) and is provided by Arkema at no cost to you.

Once you are approved for LTD benefits and are not on a covered FMLA (or similar state law) leave, you will be separated from employment if you are unable to return to work and an accommodation is not possible. You may continue medical coverage for you and your eligible dependents under COBRA. If you are eligible for retiree medical, you may also elect coverage under that plan.

You will have the option to buy an additional 6 2/3 % for total LTD coverage of 66 2/3 % (up to a maximum of $15,000 per month). If you choose to enroll in optional LTD coverage, the cost of this additional coverage will be deducted from your paycheck on an after-tax basis.

If you elect coverage during your initial eligibility period as a new hire, Evidence of Insurability (EOI) will not be required. If you do not elect coverage during the initial period, EOI will be required should you choose to elect coverage in the future.