The loss of income due to illness or injury can cause serious financial hardship for your family. Disability insurance replaces a portion of your income to help you continue paying your bills and meeting your financial obligations during this difficult time.
Parexel provides both short- and long-term disability coverage for you, at no cost to you. You also have the option to purchase additional long-term disability coverage to increase the benefit amount you would receive.
- Parexel-paid, coverage is automatic — no need to enroll.
- Initial eligibility of 90 days continuous service must be completed.
- The elimination period for approved STD claims will be 7 days.
- Provides a benefit of 100% for up to 5 weeks after the elimination period, and 60% for weeks 7-12.
- Maximum benefit ends after 13 weeks.
Maternity Leave
Maternity Benefits – Follows all STD eligibility requirements and standard disability, If delivery by C section Weeks 7-8 are automatically approved following the birth of the child and coordinated with STD and/or state entitlements (if applicable). STD benefits continue for disabling period after the delivery and birth of a child.
Parental Leave
- 4 Weeks of 100% pay.
- Effective for births, adoption or foster placement on or after January 1, 2025.
- Must be taken in 2-week blocks of time.
- Will begin immediately after disability benefits end for birth parents remaining on leave.
- Runs concurrent with FMLA and state leave entitlements.
- Will top up state paid leave entitlements.
- Must be taken within 12 months of birth.
- Parexel-paid, coverage is automatic — no need to enroll.
- Initial eligibility of six months continuous service must be completed.
- Provides a benefit equal to 60% of your pay, up to a maximum monthly benefit of $12,000.
- Benefit is optional and employee-paid; you must enroll on the Aptia365 website.
- Works with your Parexel-paid LTD benefit.
- Provides additional coverage to increase your total LTD benefit to 66.67% of your pay, up to a maximum monthly benefit of $20,000.