Innovative features include the new Protector Platinum Partial Disability provision, one the industry’s strongest. It pays full benefits for the first six months if the insured has a loss of time, duties or income. The Compassionate Care SM benefit, another industry first, means that The Standard will pay disability benefits if the insured person has a loss of income while caring for a family member with a serious health condition.1
Protector Platinum includes the following features with the base contract:1
- Full benefits for first six months of Partial Disability
- “Own Occupation” definition of disability for all occupations
- Compassionate Care SM Disability Benefit
- Recovery Benefit
- Unlimited Mental Disorder/Substance Abuse Benefit
- Lifetime presumptive benefits
- Medical and legal specialty protection
- Automatic Increase Benefit
Customers can also choose from four riders: Noncancelable, Indexed Cost of Living, Catastrophic Disability and a Future Purchase Option.
Unlike earlier disability income products in The Protector Series SM products – The Protector SM and The Protector+ SM – Protector Platinum has separate contracts for the Individual Disability Insurance policy and the Guarantee Issue markets, tailored to the specific needs of each segment.
About The Standard
The Standard is a leading provider of financial products and services. The company serves approximately 7.6 million customers nationwide as of September 30, 2010, with group and individual disability insurance, group life, AD&D, dental and vision insurance, retirement plans products and services, individual annuities and investment advice.
The Standard is the marketing name for StanCorp Financial Group, Inc. and its subsidiaries.