Income protection plans
Colgate-Palmolive offers several income protection plans to help safeguard your family’s financial security. Review highlights of these offerings below or read the details here. Some of these benefits are automatic and fully paid for by the Company but take this opportunity to review any additional coverage that you may have or want during enrollment.
Company-paid benefits
Basic life insurance
Colgate-Palmolive pays the full cost of employee basic life insurance coverage equal to 2x your base salary.
Basic accidental death & dismemberment (AD&D) insurance
Colgate-Palmolive pays the full cost of basic AD&D insurance equal to 2x your base salary.
Spouse/domestic partner life/AD&D insurance
Colgate-Palmolive pays the full cost of coverage equal to $15,000.
Child Life/AD&D insurance
Colgate-Palmolive pays the full cost of coverage equal to $15,000 for each child.
Short-term disability (STD)
Colgate-Palmolive pays the full cost of STD coverage for up to 180 days (6 months) if you are disabled or injured due to an approved and substantiated illness or injury.
Long-term disability (LTD)
Colgate-Palmolive pays the full cost of LTD coverage equal to 60% of your base salary (the maximum covered base salary is $300,000).
Employee-paid benefits
Supplemental life insurance
You can elect to purchase supplemental life insurance coverage up to an additional 8x your base salary. Total basic + supplemental life insurance is limited to $5,000,000.
Supplemental AD&D insurance
You can elect to purchase supplemental AD&D insurance coverage up to an additional 8x your base salary. Total basic + supplemental AD&D insurance is limited to $5,000,000.
Spouse/domestic partner life/AD&D insurance
You can choose to purchase a higher level of coverage up to the maximum total coverage of $250,000.
Child life/AD&D insurance
You can choose to purchase a higher level of coverage, up to the maximum total coverage of $25,000 for each child.
Long-term disability (LTD)
You can elect a higher level of coverage (70% of base salary). The maximum covered base salary is $300,000.
Did you know?
When you think about how much life insurance and income protection you need, the answer depends on your goals and personal situation. Discuss your circumstances and receive guidance from the EY Navigate Planner Line by calling 1-888-313-CPEY (2739) or visit the EY Navigate website at colgate.eynavigate.com.
