Disability Income Insurance 101

Transcription

1 Standard Insurance Company The Standard Life Insurance Company of New York Standard Insurance Company is licensed to issue insurance in all states except New York. The Standard Life Insurance Company of New York is only licensed to issue insurance in the state of New York. Disability Income Insurance 101

2 The Story of Achilles Achilles believed he was invincible NOTE: For policies issued in New York: This policy would provide disability income insurance only. It does not provide basic hospital, basic medical or major medical insurance as defined by the New York State Department of Financial Services. The expected benefit ratio is at least 55% for individual coverage and at least 60% for guarantee issue coverage, depending on the product purchased. This ratio is the portion of future premiums which The Standard expects to return as benefits, when averaged over all people with the applicable policy.

3 The Story of Achilles Achilles believed he was invincible. Then, one day, he was shot in the heel by a poisoned arrow. The heel was the one place on his body where he had no protection.

4 We have something in common with Achilles Many of us believe that because we have taken precautions, we are protected. However, unless we are independently wealthy, many of us have a critical vulnerability which is our Achilles Heel

5 We have something in common with Achilles Many of us believe that because we have taken precautions, we are protected. However, unless we are independently wealthy, many of us have a critical vulnerability which is our Achilles Heel Our ability to earn an income.

6 How does it happen? These are examples of recently paid claims and are provided for illustration purposes only. This list is not a representation about the distribution or administration of all claims submitted to or paid by The Standard. Each claim submitted to The Standard is evaluated on its own merits and according to the terms of the applicable disability insurance policy. The descriptions of the conditions listed are only general descriptions, and having one or more of the listed conditions does not establish disability. The applicable disability insurance policies have exclusions and limitations, and terms under which the policies may be continued in force or discontinued.

7 Is your Achilles Heel protected? Workers Compensation For each on-the-job injury, there are about three off-the-job injuries.* * National Safety Council, Frequently Asked Questions.

8 Is your Achilles Heel protected? Long Term Disability Insurance Usually limited to 60% income replacement to a monthly dollar maximum Benefit may be taxable May exclude commissions and bonus income

9 There is an additional solution

10 Individual Disability Income Insurance from The Standard

11 Individual disability insurance from The Standard The Standard offers the following individual disability income insurance: Protector Platinum SM, Protector+ SM* and Protector Essential SM Protector Platinum Guarantee Issue SM and Protector+* Guarantee Issue SM * In states where Protector Platinum is not available. The Standard is a marketing name for StanCorp Financial Group, Inc. and subsidiaries. Insurance products are offered by Standard Insurance Company of Portland, Ore. in all states except New York, where insurance products offered by The Standard Life Insuranc e Company of New York of White Plains, N.Y.

12 You Can Count On The Standard If you ever become disabled and need to make a claim, you ll discover The Standard s exceptional service and compassionate claims philosophy. The Standard s goal is to give you the kind of expert, empathetic service its employees wish for themselves and their families.

13 You Can Count On The Standard A leader in disability insurance, The Standard is committed to being there for you. You can be confident The Standard is financially strong and can pay what it promises now and in the future. Doing the right thing for their customers is in The Standard s DNA.

14 The Standard is a marketing name for StanCorp Financial Group, Inc. and subsidiaries. Insurance products are offered by Standard Insurance Company of Portland, Ore. in all states except New York, where insurance products are offered by The Standard Life Insurance Company of New York of White Plains, N.Y. Product features and availability vary by state and company and are solely the responsibility of each subsidiary. Each company is solely responsible for its own financial condition. Standard Insurance Company is licensed to solicit insurance business in all states except New York. The Standard Life Insurance Company of New York is licensed to solicit insurance business in only the state of New York. These policies have exclusions and limitations and terms under which the policies may be continued in force or discontinued. Some policy provisions and available riders may vary by state. Optional riders are subject to underwriting and reinsurance availability. Additional optional riders may increase premiums. A medical exam may be required upon application. For complete costs and coverage details, please contact your insurance representative, or The Standard at ( in New York). Forms 2010 B152, Standard B152AMR Insurance (in New Company York only), B152GI, B170, B170AMY (in New York Only), B170GI