INCOME PROTECTION

Short-Term Disability
Short-term disability (STD) coverage provides income replacement for up to 10 weeks if you become disabled. Raytheon provides you with company-paid STD insurance coverage equal to 75% of your weekly base pay.

You are eligible to begin receiving STD benefits if you are disabled due to an approved non-work-related illness or injury for six or more consecutive weekdays (Monday – Friday), including holidays. In other words, the plan has a five-weekday waiting period. If you return to work on the sixth weekday, no STD benefits are payable.

Short-Term Disability Plus Coverage
Raytheon pays the full cost of your basic short-term disability coverage. If you elect STD Plus, you pay the cost for covering the additional 25% of your base pay. Rates for STD Plus coverage are set as a flat rate per hundred dollars of your total base pay. If you elect STD Plus, your cost for this coverage is deducted from your pay on an after-tax basis.

Long-Term Disability
This coverage can only be purchased on an after-tax basis. Long-term disability coverage provides you with benefits when an illness or injury keeps you out of work for more than the 10-week STD period.

Basic Life Insurance
Raytheon provides basic life insurance at one times your annual base pay.

Optional Life Insurance
You can buy additional life insurance in coverage amounts from one time up to six times your annual base pay.

Dependent Life Insurance
In addition to life insurance coverage for you, there are a variety of life insurance options for your spouse and dependent children. You may elect this coverage even if you do not elect optional life insurance coverage for yourself.

Accidental Death & Dismemberment Insurance
You can purchase coverage of one to five times your annual base pay. If you choose optional AD&D coverage for your family, your dependents' coverage will be a percentage of the amount you choose for yourself.

Business Travel Accident Insurance
This company-paid plan provides you with accidental death and dismemberment coverage for injuries caused by a covered accident while you travel on company business.