Insurance Plans
Disability Insurance (Short & Long Term): If you're a full-time employee, Sherwin-Williams provides short-term disability benefits that continue to pay you a percentage of your salary during your recovery from a serious illness or injury.
Full-time employees can also purchase long-term disability insurance that provides you with 60% of your monthly earnings, after you're disabled for six months. Sherwin-Williams pays a portion of the cost of this benefit; your portion of the premium is based on your annual earnings.
Group Life and Accidental Death & Dismemberment Insurance: As a full-time employee, you're covered under our Group Life and Accidental Death and Dismemberment (AD&D) insurance. Here's how these benefits work to provide financial protection for your family:
- Group Life - if you die, your designated beneficiary receives the full amount of your basic group life insurance coverage.
- AD&D - if your death is the result of an accident, your beneficiary receives an additional amount equal to your basic life insurance coverage - double protection. Or, if you're dismembered in an accident, you are the beneficiary of all or a portion of the dismemberment benefit, depending on the nature of the dismemberment. Sherwin-Williams pays the full cost of both insurance plans with coverage in the amount of 1 times your earnings (rounded up to the nearest $1000), up to a maximum of $50,000.
Supplemental Life Insurance: Need more life insurance? If you're a full-time employee, you can get from 1 to 5 times your salary - up to a maximum coverage of $200,000 - through our Supplemental Life Insurance Plan. Your cost is based on your age, and the amount of insurance you choose. Most plans can't beat the price of our affordable group rates. So you don't need to shop for a better rate.
For example, employees under the age of 40 are charged a flat $0.10 per $1000 of coverage per month. A 23-year old, earning $25,000 per year, would pay only $2.50 per month for $25,000 of life insurance coverage.
Voluntary Personal Accident Insurance: Sherwin-Williams offers full-time employees and their eligible family members coverage against accidental loss of life, limb, eyesight, speech or hearing. You can select employee or family coverage. The cost of your premium depends on which plan you choose (Family or Employee) and the amount of selected coverage.
- Employee - choose between $10,000 and $500,000 of coverage, providing selections over $250,000 do not exceed 10 times your annual salary.
- Family - extend your coverage to include your spouse and unmarried, dependent children up to age 25; eligible family members are covered at a percentage of the principal sum you select for yourself.
The benefit and coverage defined above is a general overview. Specific information defining the benefit can be obtained during the application process.
