Did you Know…
- Every 30 seconds, someone in the United States files for bankruptcy in the aftermath of a serious medical problem. 1
- Three in ten working Americans entering the workforce today will experience a disability during their working years,2 and those disabilities are tending to last for years, even for younger age groups. 3
As an employer, after you’ve considered the needs of your employees and providing group benefits, you may find yourself interested in supplementing your own personal disability coverage and looking for additional protection for the business itself.
Individual disability insurance products from The Standard will help you continue to live the dream if you face a temporary or permanent disability by providing income replacement, business overhead expense reimbursement and even buy/sell agreement funding. We also have products to supplement your group LTD plan on a guaranteed issue basis.
Excellent Protection
The Protector+SM4 from Standard Insurance Company provides excellent disability income protection. It has a strong base contract, and many optional riders so coverage may be customized to best fit the needs of your employees.
Do you already offer Long Term Disability insurance?
By itself, LTD is a valuable basic disability insurance protection. The most common LTD plans will pay the disabled employee 45% of predisability gross income. When you add individual disability income insurance to LTD, your disabled employees’ typically nets 70% of predisability income. That is a big difference!
If you are interested in adding to an LTD plan, we recommend you ask your insurance representative to talk to you about offering The Protector+ on a guarantee issue basis. Here’s why.
Benefits of Guarantee Issue (GI) insurance
- The Protector+ GI policies are issued at discounted rates that are not otherwise available.
- Since GI policies are often issued regardless of gender, age and health status, employees may obtain coverage they may not be able to obtain on their own.
- Maximum income protection. The higher the income, the greater The Protector+ GI disability benefit that may be available.
- Bonuses, distributions and other incentive income are covered. This is especially valuable for key executives.
1. Sick and Broke by Elizabeth Warren, The Washington Post, Feb.9, 2005.
2. Social Security Administration, Fact Sheet, 2007.
3. Individual Disability Experience Committee, Society of Actuaries, 2005 compared to Transactions. Society of Actuaries, 1981 Reports.
4. The Protector in California.
