BIRMINGHAM, Ala.--(BUSINESS WIRE)--Protective Life Corporation, a wholly owned U.S. subsidiary of Dai-ichi Life Holdings, Inc. (TSE:8750), has announced a new Paid Parental Leave benefit that aims to provide meaningful support, as well as financial stability, to parents welcoming a new child. With the new benefit, mothers and fathers of newborns and newly adopted children will be eligible for up to six weeks of Paid Parental Leave at 100% pay.
Protective’s Paid Parental Leave benefit, which goes into effect on April 1, 2018, is intended to provide six weeks of bonding time for parents welcoming a new child. Taken together, Protective’s leave of absence benefit offerings, including Paid Parental Leave, Short-Term Disability and leave provided under the Family Medical Leave Act, provide up to 12-14 weeks of leave at 100% pay for delivering mothers.
“At Protective, we believe investing in our talent and culture is one of the smartest things we can do to reinforce our commitment to employees and ensure our continued success,” said Rich Bielen, President and CEO, Protective. “We also understand that the birth or adoption of a child can be one of the most exciting and challenging times in our employees’ lives. As we strive to be a great place to work for our employees, we hope our new Paid Parental Leave benefit will provide valuable support through this time of transition.”
Protective’s new Paid Parental Leave benefit complements a benefits package that offers a number of programs to support parents through the birth or adoption of a child. These include Maven, a maternity program to support all pregnancy, post-baby, and return-to-work needs, and Baby Yourself, a wellness program offered through Blue Cross and Blue Shield of Alabama that helps ensure expectant mothers and their babies receive the best possible healthcare during pregnancy.
News of the Paid Parental Leave benefit follows Protective’s announcement earlier this year that, as a result of tax reform, the Company raised its minimum wage to $15 an hour across its employee base and paid a special $1,000 bonus to approximately 75% of its workforce. These measures and others reflect Protective’s longstanding commitment to living its values, maintaining a positive culture, and attracting the best talent.
Protective Life Corporation provides financial services through the production, distribution and administration of insurance and investment products throughout the U.S. The flagship subsidiary, Protective Life Insurance Company, was founded in 1907. Protective’s home office is located in Birmingham, Alabama. As of December 31, 2017 the Company had assets of approximately $79.6 billion. Protective Life Corporation is a wholly owned subsidiary of Dai-ichi Life Holdings, Inc. (TSE:8750, “Dai-ichi”). For more information about Protective, please visit www.Protective.com.