Protector PlatinumSM provides a comprehensive set of benefits that make it simple to sell.
Included With Every Standard Protector Platinum Disability Insurance Policy
Own Occupation Definition of Disability
With every Protector Platinum policy, the Own Occupation definition of disability truly applies to all occupation classes.
Compassionate Care® Benefit
The Standard will pay a monthly benefit if the insured has a loss of earnings of 20 percent or more while caring for a loved one with a serious health condition.
A loved one includes a parent, a spouse or domestic partner, or a child (including an adopted child or stepchild of a spouse or domestic partner).
Automatic Increase Benefit
For individuals under age 60, The Standard will raise the policy’s basic monthly benefit by 4 percent each year during the increase period without evidence of insurability.
Total Disability Benefit
The Standard will pay benefits to insureds who cannot work in their regular occupations because of a total disability, as defined by the policy.
Presumptive Total Disability Benefit
The insured is eligible for the total disability benefit if an injury or illness results in loss of speech, hearing, sight or the use of two limbs, as defined by the policy.
Partial Disability Benefit
If the insured is partially disabled, The Standard will pay 100 percent of the basic monthly benefit for the first six months regardless of the income the insured earned while returning to work. Afterward, The Standard will pay a portion of the benefit based on the amount of income lost that month.
If the insured participates in a rehabilitation program to prepare for returning to full-time work, The Standard will pay for part or all of the costs.
After the insured recovers from a disability, The Standard will pay recovery benefits if the insured continues to experience a loss of income due to the injury or sickness that caused the disability.
Unlimited Coverage for Mental Disorder and/or Substance Abuse
There are no coverage limitations on the benefits that can be paid for disabilities caused by mental disorder or substance abuse.
The Standard will pay a survivor benefit for three months beyond the date of the insured’s death, if the insured dies while disability or recovery benefits are payable.
Cosmetic or Transplant Surgery Benefit
The Standard will pay a monthly benefit if the insured is disabled more than six months after the policy’s effective date from a sickness or injury caused by cosmetic or transplant surgery.
Waiver of Premium Benefit
The Standard will waive all premiums due under the policy while disability or recovery benefits are payable.
Coverage is guaranteed renewable to age 65 or to the termination date (the policy anniversary after age 67) as long as the premium is paid on time. The Standard will not change any part of the policy, except for the premium. Even then, The Standard may only change the premium after the policy is three years old and if the change applies to all policies with similar benefits insuring the same risk class.
Future Purchase Option
As the insureds advance in their careers, their income will likely increase. This option allows them to purchase increases in their coverage once per year without medical evidence of insurability.
This rider locks in premium rates as long as the premiums are paid by the end of each grace period.
Indexed Cost of Living Rider
With this rider, the monthly benefit will increase by up to 3 or 6 percent annually while your client remains disabled, based on changes in the Consumer Price Index.
Catastrophic Disability Rider
The Standard will pay an additional monthly benefit if the insured suffers a catastrophic disability that prevents him or her from performing normal daily activities without assistance, as defined by the policy.
DISABILITY INSURANCE QUOTES
This is only a brief summary of the features and riders available in the policy. This is not a contract. Any coverage issued is subject to the terms of the policy. Some policy provisions may vary by state. Optional riders are subject to underwriting and reinsurance availability. Additional optional riders may increase premiums. Some riders may not be available in all states. A medical exam may be required when you apply for a policy.
Some products and riders may not be available in all states and some policy provisions may vary by state. The policy has exclusions and limitations and terms under which the policy may be continued or discontinued. For costs and complete details of coverage, please contact your insurance representative or The Standard.
The Standard is a marketing name for StanCorp Financial Group, Inc. and subsidiaries. Insurance products are offered by Standard Insurance Company of Portland, Oregon in all states except New York, where insurance products are offered by The Standard Life Insurance Company of New York of White Plains, New York. Product features and availability vary by state and company, and are solely the responsibility of each subsidiary.