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© 2010 Standard Insurance Company 11399PPT (Rev 7/14) SI/SNY Individual Disability Income Insurance at The Standard For producers only. Not for use with.

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Presentation on theme: "© 2010 Standard Insurance Company 11399PPT (Rev 7/14) SI/SNY Individual Disability Income Insurance at The Standard For producers only. Not for use with."— Presentation transcript:

1 © 2010 Standard Insurance Company 11399PPT (Rev 7/14) SI/SNY Individual Disability Income Insurance at The Standard For producers only. Not for use with consumers 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.

2 © 2010 Standard Insurance Company 11399PPT (Rev 7/14) SI/SNY 1.Why IDI is such valuable protection for your customersWhy IDI is such valuable protection for your customers 2.Protector Platinum SM individual disability income insuranceProtector Platinum SM individual disability income insurance 3.Protector+ SM individual disability income insuranceProtector+ SM individual disability income insurance 4.Protector Essential SM individual disability income insuranceProtector Essential SM individual disability income insurance 5.The three kinds of disabilityThe three kinds of disability 6.Disability claims at The StandardDisability claims at The Standard 7.About The StandardAbout The Standard 8.ResourcesResources Table of Contents

3 © 2010 Standard Insurance Company 11399PPT (Rev 7/14) SI/SNY Just over one in four of today’s 20-year-olds will become disabled before reaching age 67.* Why IDI is such valuable insurance for your customers *Social Security Basic Facts, April 2, Return to Table of Contents

4 © 2010 Standard Insurance Company 11399PPT (Rev 7/14) SI/SNY The Need For Disability Insurance

5 © 2010 Standard Insurance Company 11399PPT (Rev 7/14) SI/SNY Why IDI is such valuable insurance for your customers When they already have LTD at work, many consumers do not realize that because LTD benefits are usually taxable, benefits from a typical LTD policy covering 60% of income, will only equal about 45% of gross earnings after taxes. Assumes a 25% tax bracket. Return to Table of Contents

6 © 2010 Standard Insurance Company 11399PPT (Rev 7/14) SI/SNY Why IDI is such valuable insurance for your customers When they already have LTD at work, and add individual disability income insurance, the same consumers’ coverage could look like this. Return to Table of Contents

7 © 2010 Standard Insurance Company 11399PPT (Rev 7/14) SI/SNY Protector Platinum SM Individual Disability Income Insurance

8 © 2010 Standard Insurance Company 11399PPT (Rev 7/14) SI/SNY Guaranteed Renewable Policy Unlimited Coverage for Mental Disorder/Substance Abuse Own Occupation Definition of DisabilityOwn Occupation Definition of Disability Total Disability Benefit Presumptive Total Disability BenefitPresumptive Total Disability Benefit Partial Disability Benefit *Not all features are available in all states Protector Platinum individual disability income insurance is comprehensive Recovery Benefit Rehabilitation Benefit Compassionate Disability Benefit SMCompassionate Disability Benefit SM Automatic Increase Benefit Survivor Benefit Cosmetic or Transplant Surgery Benefit Premium Waiver Benefit Choice of Benefit Periods continued on next slide Return to Table of Contents Included in every Protector Platinum policy*:

9 © 2010 Standard Insurance Company 11399PPT (Rev 7/14) SI/SNY Optional Riders: Future Purchase Option Noncancelable Policy Protector Platinum individual disability income insurance is comprehensive Indexed Cost of Living Catastrophic Return to Table of Contents

10 © 2010 Standard Insurance Company 11399PPT (Rev 7/14) SI/SNY Coverage is guaranteed renewable to the termination date (the policy anniversary next following your age 67) as long as the premium is paid on time. The premium can be changed only after the policy is three years old and then, only if the change applies to all policies with similar benefits insuring the same risk class. Guaranteed Renewable Policy Return to Table of Contents

11 © 2010 Standard Insurance Company 11399PPT (Rev 7/14) SI/SNY The Renewal Option The Protector Platinum policy ends on the termination date. Insureds may ask to continue coverage beyond the termination date under the Renewal Option if they are working at least 30 hours per week and are not disabled at the time of their request. Some provisions of the policy will change, and coverage will terminate after the insured recovers from any disability covered under this option. Guaranteed Renewable Policy (cont’d) Return to Table of Contents

12 © 2010 Standard Insurance Company 11399PPT (Rev 7/14) SI/SNY Protector Platinum’s definition of total disability provides for payment of the full monthly benefit in the event the insured is disabled in his or her own occupation. Own occupation means the occupation(s) in which the insureds are regularly engaged at the time their disability begins. If they have limited their practice to a professionally recognized specialty in medicine or law, then that specialty is their own occupation. Own Occupation Definition of Disability Return to Table of Contents

13 © 2010 Standard Insurance Company 11399PPT (Rev 7/14) SI/SNY Insureds are considered totally disabled if due to their injury or sickness, they are unable to perform the primary duties of their own occupation and they are under the regular care of a physician appropriate for their injury or sickness. This definition of total disability allows the insured to earn an income in another occupation and still receive the full monthly benefit if he or she is are disabled in his or her own occupation. Total Disability Benefit Return to Table of Contents

14 © 2010 Standard Insurance Company 11399PPT (Rev 7/14) SI/SNY Insureds are presumed totally disabled if they suffer an injury or sickness, while the policy is in force, that results in total and permanent loss of any of the following: speech, hearing in both ears not restorable by hearing aids, sight in both eyes after reasonable efforts are made to correct their vision using the most advanced, medically acceptable procedures and devices available, or the use of two limbs. continued on next slide Presumptive Disability Benefit Return to Table of Contents

15 © 2010 Standard Insurance Company 11399PPT (Rev 7/14) SI/SNY Benefits are payable for the lifetime of the insureds, if they chose the To-Age-65 or To-Age-67 Benefit Period and become presumptively disabled. Presumptive Disability Benefit (cont’d) Return to Table of Contents

16 © 2010 Standard Insurance Company 11399PPT (Rev 7/14) SI/SNY Insureds are considered partially disabled under Protector Platinum when they are not totally disabled and meet one of the definitions of partial disability. There are two periods of partial disability, each with a distinct benefit and definition of partial disability: 1. Initial Period 2. Extended Period Partial Disability Benefit Return toTable of Contents

17 © 2010 Standard Insurance Company 11399PPT (Rev 7/14) SI/SNY The Initial Period of partial disability refers to the waiting period and the first six months during which disability benefits are payable for partial disability. During this period insureds are partially disabled if: They are working in their own occupation or any other occupation, and they are not totally disabled Due to their injury or sickness, they have a loss of duties, or loss of time, or loss of income, and they are under the regular care of a physician appropriate for their injury or sickness. continued on next slide Partial Disability Benefit: Initial Period Return to Table of Contents

18 © 2010 Standard Insurance Company 11399PPT (Rev 7/14) SI/SNY During the Initial Period, while benefits are payable, insureds are eligible for 100 percent of the policy’s basic monthly benefit. Partial Disability Benefit: Initial Period (cont’d) Return to Table of Contents

19 © 2010 Standard Insurance Company 11399PPT (Rev 7/14) SI/SNY After the Initial Period, during the Extended Partial Disability of Partial Disability, insureds are considered partially disabled if: They are working in their own occupation or any other occupation, and they are not totally disabled Due to their injury or sickness, they have a loss of income, and They are under the regular care of a physician appropriate for their injury or sickness. During the Extended Period of partial disability, the monthly benefit will be proportional to the insureds’ loss of income. Partial Disability Benefit: Extended Partial Disabilty Return to Table of Contents

20 © 2010 Standard Insurance Company 11399PPT (Rev 7/14) SI/SNY Immediately after insureds have recovered from their disability under the provisions of Protector Platinum, The Standard will pay them a recovery benefit if they have a loss of income and that loss is solely the result of the injury or sickness that caused their disability. The monthly benefit amount is proportional to their loss of earnings for that month. Recovery Benefit Return to Table of Contents

21 © 2010 Standard Insurance Company 11399PPT (Rev 7/14) SI/SNY If insureds participate in a voluntary rehabilitation program to help prepare for their return to full-time work, The Standard will pay the reasonable costs of the program under the following circumstances: They have accepted the terms and objectives of the program, and The Standard has approved the program and determined it meets the mutually agreed-upon objectives. continued on next slide Rehabilitation Benefit Return to Table of Contents

22 © 2010 Standard Insurance Company 11399PPT (Rev 7/14) SI/SNY The Standard’s Compassionate Care Benefit pays insureds a monthly benefit if they lose income while taking time away from work to care for a Loved One** who has a serious health condition. continued on next slide * This benefit is not available in all states. **A parent, spouse, domestic partner, child, including an cadopted child, stepchild and child of domestic partner. Compassionate Care Benefit ®* Return to Table of Contents

23 © 2010 Standard Insurance Company 11399PPT (Rev 7/14) SI/SNY The maximum amount of Compassionate Care Benefit The Standard will pay under any one policy for all claims and all Loved Ones, is an amount equal to six times the basic monthly benefit. Compassionate Disability Benefit (cont’d) Return to Table of Contents

24 © 2010 Standard Insurance Company 11399PPT (Rev 7/14) SI/SNY Insureds are eligible for this benefit if they are under age 60 on the policy’s effective date. This benefit raises their policy’s basic monthly benefit by 4% each year during the increase period, compounded during the increase period, without evidence of insurability. Benefit increases occur on their policy’s anniversary. Insureds have the right to refuse Automatic Increase Benefits. continued on next slide Automatic Increase Benefit Return to Table of Contents

25 © 2010 Standard Insurance Company 11399PPT (Rev 7/14) SI/SNY The increase period lasts for up to five consecutive years. Insureds may be eligible to apply for additional increase periods to begin immediately after the end of the prior increase period. Premiums for each increase are based on age and risk class at time of the increase. Automatic increases do not take effect when insureds are receiving disability benefits or recovery benefits. Automatic Increase Benefit (cont’d) Return to Table of Contents

26 © 2010 Standard Insurance Company 11399PPT (Rev 7/14) SI/SNY The Standard pays a Survivor Benefit for three months beyond the date of an insured’s death, if he or she dies while disability or recovery benefits are payable under the Protector Platinum policy. Survivor Benefit Return to Table of Contents

27 © 2010 Standard Insurance Company 11399PPT (Rev 7/14) SI/SNY The Standard pays a monthly benefit to insureds if, more than six months after their Protector Platinum policy effective date, they are disabled due to sickness as a result of surgery to improve their appearance, prevent disfigurement or transplant part of their body to someone else. Cosmetic or Transplant Surgery Benefit Return to Table of Contents

28 © 2010 Standard Insurance Company 11399PPT (Rev 7/14) SI/SNY The Standard will waive all premiums due under this policy while disability benefits or recovery benefits are payable. Premium Waiver Benefit Return to Table of Contents

29 © 2010 Standard Insurance Company 11399PPT (Rev 7/14) SI/SNY The maximum benefit period is the maximum period of time The Standard will pay disability benefits for any one continuous disability and any recovery benefits related to that disability. Insureds may choose from the following maximum benefit periods: two years, five years, ten years, to age 65, or to age 67. For any maximum benefit period The Standard will not pay benefits beyond the later of the policy termination date or the date on which 24 months of benefits have been paid. Choice of Maximum Benefit Periods Return to Table of Contents

30 © 2010 Standard Insurance Company 11399PPT (Rev 7/14) SI/SNY Protector Platinum individual disability income insurance Optional Riders Return to Table of Contents

31 © 2010 Standard Insurance Company 11399PPT (Rev 7/14) SI/SNY Under the Future Purchase Option, insureds may be eligible to increase their policy’s monthly benefit once a year, on the policy’s anniversary date. Under special circumstances, they may be able to purchase increases at times other than the policy’s anniversary. Future Purchase Option Return to Table of Contents

32 © 2010 Standard Insurance Company 11399PPT (Rev 7/14) SI/SNY When insureds wish to ensure their premium rates cannot be changed before their policy termination date, the Noncancelable Policy Rider will allow them to do so as long as they pay their premiums by the end of each grace period. Noncancelable Policy Rider Return to Table of Contents

33 © 2010 Standard Insurance Company 11399PPT (Rev 7/14) SI/SNY When insureds choose to add the Indexed Cost of Living Benefit Rider to their Protector Platinum policy, the monthly benefit payment will increase annually based on changes in the Consumer Price Index, up to a limit of 3% or 6% per year, as chosen by the insured. Indexed Cost of Living Rider Return to Table of Contents

34 © 2010 Standard Insurance Company 11399PPT (Rev 7/14) SI/SNY Catastrophic disability means insureds are unable to perform two or more activities of daily living without assistance, have a severe cognitive impairment, or have a Presumptive Total Disability. Activities of daily living include: bathing, continence, dressing, eating, toileting and transferring. Transferring is moving into or out of a bed, chair, or wheelchair, with or without adaptive devices. The Catastrophic Disability Benefit Rider pays the insured a monthly benefit in addition to the total disability benefit with Protector Platinum. Catastrophic Disability Benefit Rider Return to Table of Contents

35 © 2010 Standard Insurance Company 11399PPT (Rev 7/14) SI/SNY The Standard will not pay benefits for the first 90 days of disability due to pregnancy or childbirth, disability due to war, disability caused by committing a felony or participation in a riot, or disability caused by intentionally self- inflicted injury. The Standard will not pay benefits for a pre-existing condition unless it is disclosed on the application and it is not specifically excluded from coverage. continued on next slide Exclusions from coverage Return to Table of Contents

36 © 2010 Standard Insurance Company 11399PPT (Rev 7/14) SI/SNY A preexisting condition is any mental or physical condition for which: The insured has consulted a physician, and received medical treatment, services or diagnostic procedures, and The insured has taken prescription drugs or medications, and A reasonably prudent person would have sought medical advice, care or treatment, during the 365 day period preceding the policy’s effective date. Exclusions from coverage Return to Table of Contents

37 © 2010 Standard Insurance Company 11399PPT (Rev 7/14) SI/SNY Protector+ SM Individual Disability Income Insurance Return to Table of Contents

38 © 2010 Standard Insurance Company 11399PPT (Rev 7/14) SI/SNY Definition of Total Disability Definition of Presumptive Total Disability Definition of Continuous Disability Guaranteed Renewable Renewable for Life Rehabilitation Benefit Survivor Benefit Waiver of Premium Benefit Cosmetic or Transplant Surgery Benefit Exclusions from Coverage Optional Riders Protector+ Return to Table of Contents

39 © 2010 Standard Insurance Company 11399PPT (Rev 7/14) SI/SNY Because of the insured’s injury or sickness: Definition of total disability the insured is unable to perform the substantial and material duties of his regular occupation; and the insured is not engaged in any other gainful occupation; and the insured is under the regular care of a physician appropriate for the injury or sickness. This physician’s care requirement is waived when The Standard receives written proof, satisfactory to The Standard, that further care would be of no benefit to the insured. the insured is unable to perform with reasonable continuity the substantial and material acts necessary to perform his or her regular occupation in the usual and customary way and chooses not to work in any other gainful occupation. If the insured chooses to work at any job, he will not be considered totally disabled, however he may qualify for partial disability, found in the Partial Disability Rider automatically included with the policy. In California Return to Table of Contents

40 © 2010 Standard Insurance Company 11399PPT (Rev 7/14) SI/SNY The insured’s total and permanent loss, because of injury or sickness, of one of the following: speech; hearing in both ears, not restorable by hearing aids; use of both hands; use of both feet, or use of one hand and one foot; or total and permanent loss of sight in both eyes. Both eyes must measure at or below 20/200, after reasonable efforts are made to correct vision, using the most advanced medically acceptable procedures and devices available. Definition of presumptive total disability Return to Table of Contents

41 © 2010 Standard Insurance Company 11399PPT (Rev 7/14) SI/SNY Recurrent periods of disability from the same cause(s) if separated by the insured’s recovery of less than twelve* months. Waiting period must be satisfied within the total number of consecutive days equal to: twice the waiting period, if 180 days or less, or 1½ times the waiting period, if more than180 days Definition of continuous disability *Six months in some states In California Recurrent periods of disability from the same cause(s) if separated by the insured’s recovery of six months or less. Return to Table of Contents

42 © 2010 Standard Insurance Company 11399PPT (Rev 7/14) SI/SNY Guaranteed renewable to age 66/67. The Standard cannot change any part of the policy, except premiums, after the policy is three years old, so long as the premium is paid by the end of each grace period. Guaranteed Renewable Return to Table of Contents

43 © 2010 Standard Insurance Company 11399PPT (Rev 7/14) SI/SNY Insureds may ask to continue the policy beyond the termination date if they are working at least 30 hours per week and not disabled at the time of the request. Only the benefit for total disability may be available and the premium may change. The maximum benefit period is limited to 24 months before age 75, and to 12 months after age 75. Renewable for Life Return to Table of Contents

44 © 2010 Standard Insurance Company 11399PPT (Rev 7/14) SI/SNY If while receiving disability benefits, the insured participates in a rehabilitation program approved by The Standard, we will pay the difference between the benefit the insured would have been eligible for if totally disabled, and the benefit for which the insured is eligible. If the insured qualifies for the rehabilitation benefit, The Standard will pay the total disability benefit, even if the insured is residually disabled. Rehabilitation Benefit Return to Table of Contents

45 © 2010 Standard Insurance Company 11399PPT (Rev 7/14) SI/SNY The Standard will also pay reasonable costs of the rehabilitation program not covered by other plans or policies, the difference, if any, between 1. the benefit you would have been eligible for if you were totally disabled and 2. the disability for which you are disabled. rehabilitation for up to the lesser of 36 months according to the program. Rehabilitation Benefit Return to Table of Contents

46 © 2010 Standard Insurance Company 11399PPT (Rev 7/14) SI/SNY If the insured dies while receiving total disability benefits, The Standard will pay the policy’s basic monthly benefit to the owner or the owner’s estate for the lesser of three months or the number of months left in the Maximum Benefit Period. * Not available in all states. Survivor Benefit* Return to Table of Contents

47 © 2010 Standard Insurance Company 11399PPT (Rev 7/14) SI/SNY While the insured is disabled: after the earlier of the date benefits start or the 90 th day of disability, The Standard will waive premiums currently due; after completion of the waiting period The Standard will refund any premium due and paid after the date disability began. Waiver of Premium Benefit Return to Table of Contents

48 © 2010 Standard Insurance Company 11399PPT (Rev 7/14) SI/SNY The Standard will consider the insured disabled if, more than six months after the policy is effective, the insured becomes disabled due to cosmetic or transplant surgery. Cosmetic or Transplant Surgery Benefit Return to Table of Contents

49 © 2010 Standard Insurance Company 11399PPT (Rev 7/14) SI/SNY Exclusions from coverage war, declared or undeclared, whether civil or international; act of war; act incident to war; insurrection; and substantial armed conflict with organized forces of a military nature. In California war, declared or undeclared, whether civil or international; involving nations and/or sovereign territories. Acts of war or acts incident to war do not include acts of terrorism, so long as such acts are isolated in nature and unrelated to and not arising from war, as defined above. The Standard will not pay benefits for disability due to war. War means any Return to Table of Contents

50 © 2010 Standard Insurance Company 11399PPT (Rev 7/14) SI/SNY The Standard will not pay benefits during the first 90 days of the insured’s disability due to pregnancy or childbirth. for disability caused or contributed to by the insured: committing or attempting to commit an assault or felony; or actively participating in a violent disorder or riot. Actively participating does not include the insured being at the scene of a violent disorder or* riot while performing his or her official duties; *Language not present in Protector+CA policy Exclusions from coverage Return to Table of Contents

51 © 2010 Standard Insurance Company 11399PPT (Rev 7/14) SI/SNY The Standard will not pay benefits for: disability while the insured is confined for any reason to a penal or correctional institution* or Disability resulting from an intentionally self- inflicted injury. * Language not present in Protector+CA policy. Exclusions from coverage Return to Table of Contents

52 © 2010 Standard Insurance Company 11399PPT (Rev 7/14) SI/SNY Protector+ SM Individual Disability Income Insurance Optional Riders Return to Table of Contents

53 © 2010 Standard Insurance Company 11399PPT (Rev 7/14) SI/SNY Protector+ Riders Residual Disability Rider Indexed Cost of Living Rider Supplemental Social Insurance RiderSupplemental Social Insurance Rider Future Purchase Option Rider Noncancelable Rider Own Occupation Rider Mental Disorder/Substance Abuse Limitation EndorsementMental Disorder/Substance Abuse Limitation Endorsement Catastrophic Disability Benefit RiderCatastrophic Disability Benefit Rider In California The Residual Disability Rider is the Partial Disability Rider. It is mandatory and included in the base policy. The Catastrophic Disability Benefit Rider is not available. Own Occupation Rider language Return to Table of Contents

54 © 2010 Standard Insurance Company 11399PPT (Rev 7/14) SI/SNY B 5A 4A 3A 2A A Residual Disability Rider 1 Supplemental Social Insurance RiderIndexed Cost of Living RiderFuture Purchase Option Rider Noncancelable Rider Own Occupation Rider 3 1.The Partial Disability Rider in California, where it is mandatory. 2.Not available in California or Connecticut. 3.The Own Occupation Rider is available for all 3A, 3P, 4A and 4P occupations except podiatrists and self-employed stockbrokers. Occupation Class 4P 3P Catastrophic Disability Benefit Rider 2 Protector+ Riders Return to Table of Contents

55 © 2010 Standard Insurance Company 11399PPT (Rev 7/14) SI/SNY Residual disability means the insured is not totally disabled, but because of his injury or sickness: his monthly earnings are reduced by 20% or more of his indexed prior monthly earnings; and he is under the regular care of a physician appropriate for his injury or sickness; and he is able: –to do some, but not all, of the substantial and material duties of his regular occupation; or –to do all of the substantial and material duties of his regular occupation, but not for as long a time or as effectively as he did immediately prior to his injury or sickness. Residual Disability Rider In CA this is the Partial Disability Rider. See next slide. Return to Table of Contents

56 © 2010 Standard Insurance Company 11399PPT (Rev 7/14) SI/SNY Partial disability means the insured is not totally disabled, but because of his injury or sickness: he is not totally disabled while actually working in his regular occupation, as a result of his injury or sickness, he is unable to earn 80% or more of his indexed prior monthly earnings. Partial Disability Rider CA only, this rider is mandatory and part of the base Protector+ policy. Return to Table of Contents

57 © 2010 Standard Insurance Company 11399PPT (Rev 7/14) SI/SNY The ICOL Rider helps provide a cushion against inflation during a lengthy disability. For each year of disability after the first, the rider pays an amount in addition to the policy benefit based on the average annual change in the Consumer Price Index for All Urban Consumers (CPI-U), subject to a cap of either 3% or 6%, whichever is chosen on the application. Payment is subject to the policy’s benefit period and other requirements. The amount payable under the rider will not decrease even if the CPI-U decreases. Indexed Cost of Living Rider Return to Table of Contents

58 © 2010 Standard Insurance Company 11399PPT (Rev 7/14) SI/SNY This rider pays a benefit if the policy’s total disability benefit is payable and no legislated benefits are payable for the disability. The insured must apply for legislated benefits for which she may be eligible and meet other requirements in the rider. A reduced benefit is available if legislated benefits are payable that are less than the rider benefit amount. Supplemental Social Insurance Rider Return to Table of Contents

59 © 2010 Standard Insurance Company 11399PPT (Rev 7/14) SI/SNY This rider allows for the purchase of benefit increases on each policy anniversary subject only to financial underwriting. Evidence of the insured’s good health is not required to purchase an increase. Future Purchase Option Rider Return to Table of Contents

60 © 2010 Standard Insurance Company 11399PPT (Rev 7/14) SI/SNY Noncancelable Policy Rider This rider changes the policy and all riders made part of the policy from guaranteed renewable to noncancelable and guaranteed renewable. The Standard cannot change the policy terms or premiums until the termination date. This rider also changes the policy to provide that, if the maximum benefit period is longer than five years and the insured becomes eligible for the benefit for presumptive total disability, the total disability payments will be payable for his lifetime as long as the presumptive disability continues. Return to Table of Contents

61 © 2010 Standard Insurance Company 11399PPT (Rev 7/14) SI/SNY Own Occupation Rider Different in CA. See next slide. This rider liberalizes the definition of total disability and is issued with a two-year mental disorder and substance abuse limitation. Removes this sentence from the definition of total disability Because of your injury or sickness: 1.You are unable to perform the substantial and material duties of your regular occupation; and 2.You are not engaged in any other gainful occupation; and 3.You are under the regular care of a physician appropriate for your injury or sickness. This physician’s care requirement will be waived when we receive written proof, satisfactory to us, that further care would be of no benefit to you. Return to Table of Contents

62 © 2010 Standard Insurance Company 11399PPT (Rev 7/14) SI/SNY Own Occupation Rider CA language This rider liberalizes the definition of total disability and is issued with a two-year mental disorder and substance abuse limitation Removes this sentence from the definition of total disability Because of your Injury or Sickness: 1.You are unable to perform with reasonable continuity the substantial and material acts of your regular occupation in the usual and customary way; and 2.You choose not to work in another occupation Return to Table of Contents

63 © 2010 Standard Insurance Company 11399PPT (Rev 7/14) SI/SNY Two-year benefit period limitation for disability caused by mental disorder or substance abuse. This limitation endorsement is added to each policy that has the Own Occupation Rider. This endorsement may also be used at underwriter discretion. Mental Disorder/ Substance Abuse Limitation Endorsement Return to Table of Contents

64 © 2010 Standard Insurance Company 11399PPT (Rev 7/14) SI/SNY This rider pays an additional benefit if the insured is receiving the benefit for total disability and is unable to perform at least two activities of daily living (ADLs), has a severe cognitive impairment, or is presumptively totally disabled. ADLs include bathing, continence, dressing, eating, toileting and transferring (moving in and out of a bed, chair or wheelchair). Catastrophic Disability Benefit Rider Not available in CA or CT Return to Table of Contents

65 © 2010 Standard Insurance Company 11399PPT (Rev 7/14) SI/SNY Protector Essential SM Individual Disability Income Insurance Return to Table of Contents

66 © 2010 Standard Insurance Company 11399PPT (Rev 7/14) SI/SNY Choice of Maximum Benefit Periods and Waiting Periods Renewable for Life Renewal Option Total Disability Benefit Presumptive Total Disability Benefit No Limitation on Coverage for Mental Disorders/Substance Abuse Rehabilitation Benefit Survivor Benefit Waiver of Premium Benefit Cosmetic or Transplant Surgery Benefit Continuous Disability Benefit Residual Disability Rider Included in the Protector Essential Policy* *Protector Essential is not available in all states. Return to Table of Contents

67 © 2010 Standard Insurance Company 11399PPT (Rev 7/14) SI/SNY Guaranteed renewable to age 66/67. The Standard cannot change any part of the policy, except premiums, after the policy is three years old, so long as the premium is paid by the end of each grace period. Guaranteed Renewable Return to Table of Contents

68 © 2010 Standard Insurance Company 11399PPT (Rev 7/14) SI/SNY Insureds may ask to continue the policy beyond the termination date if they are working at least 30 hours per week and not disabled at the time of the request. Only the benefit for total disability may be available and the premium may change. The maximum benefit period is limited to 24 months before age 75, and to 12 months after age 75. Renewable for Life Return to Table of Contents

69 © 2010 Standard Insurance Company 11399PPT (Rev 7/14) SI/SNY Insureds are considered totally disabled if due to their injury or sickness, they are unable to perform the substantial and material duties of their regular occupation and they are under the regular care of a physician appropriate for their injury or sickness. Total Disability Benefit Return to Table of Contents

70 © 2010 Standard Insurance Company 11399PPT (Rev 7/14) SI/SNY Insureds are presumed totally disabled if they suffer an injury or sickness, while the policy is in force, that results in total and permanent loss of any of the following: speech, hearing in both ears not restorable by hearing aids, sight in both eyes after reasonable efforts are made to correct their vision using the most advanced, medically acceptable procedures and devices available, or the use of two limbs. continued on next slide Presumptive Disability Benefit Return to Table of Contents

71 © 2010 Standard Insurance Company 11399PPT (Rev 7/14) SI/SNY The Standard will pay the Total Disability Benefit beginning with the day of loss. Presumptive Disability Benefit Return to Table of Contents

72 © 2010 Standard Insurance Company 11399PPT (Rev 7/14) SI/SNY If insureds participate in a voluntary rehabilitation program to help prepare for their return to full-time work, The Standard will pay the reasonable costs of the program under the following circumstances: They have accepted the terms and objectives of the program, and The Standard has approved the program and determined it meets the mutually agreed-upon objectives. continued on next slide Rehabilitation Benefit Return to Table of Contents

73 © 2010 Standard Insurance Company 11399PPT (Rev 7/14) SI/SNY If while receiving disability benefits, the insured participates in a rehabilitation program approved by The Standard, we will pay the difference, if any, between the benefit the insured would be eligible for if totally disabled and the disability benefit for which he or she is eligible for. The benefit is paid for the lesser of 36 months of the number of months left in the Maximum Benefit Period. The Standard will also pay the reasonable costs of the rehabilitation program not covered by other plans, policies or programs. Rehabilitation Benefit Return to Table of Contents

74 © 2010 Standard Insurance Company 11399PPT (Rev 7/14) SI/SNY If the insured dies while receiving Total Disability benefits, The Standard will pay the policy’s basic monthly benefit to the owner or the owner’s estate for the lesser of three months or the number of months left in the Maximum Benefit Period.* * Not available in all states. Survivor Benefit Return to Table of Contents

75 © 2010 Standard Insurance Company 11399PPT (Rev 7/14) SI/SNY The Standard pays a monthly benefit to insureds if, more than six months after the policy effective date, they are disabled due to sickness as a result of surgery to improve their appearance, prevent disfigurement or transplant part of their body to someone else. Cosmetic or Transplant Surgery Benefit Return to Table of Contents

76 © 2010 Standard Insurance Company 11399PPT (Rev 7/14) SI/SNY While the insured is disabled and after the earlier of the date benefits start or the 90 th day of disability, The Standard will continue to waive premiums while disability benefit are payable. After completion of the waiting period, we will refund any premium due and paid after the date the insured’s disability began. Waiver of Premium Benefit Return to Table of Contents

77 © 2010 Standard Insurance Company 11399PPT (Rev 7/14) SI/SNY Subject to The Standard’s underwriting requirements, the insured may choose maximum benefit periods. two years, five years, ten years, or to age 66/67. The maximum benefit period is the maximum period of time The Standard will pay disability benefits for any one continuous disability and any recovery benefits related to that disability. *Benefit periods are limited under the Renewal Option. Choice of Maximum Benefit Periods* Return to Table of Contents

78 © 2010 Standard Insurance Company 11399PPT (Rev 7/14) SI/SNY The Waiting Period is the period throughout which the insured must be continuously disabled before benefits are payable. Subject to The Standard’s underwriting requirements, the insured may choose from the following waiting periods: 60, 90, 180, 365 or 730 days of disability *The 730-day waiting period is not available in some states. The two-year benefit period is not available with the 365-day waiting period in some states. Choice of Waiting Periods Return to Protector Essential Index

79 © 2010 Standard Insurance Company 11399PPT (Rev 7/14) SI/SNY Protector Essential Riders Return to Table of Contents

80 © 2010 Standard Insurance Company 11399PPT (Rev 7/14) SI/SNY The Residual Disability Rider pays a benefit if the insured is not totally disabled but disabled enough to incur at least a 20 percent loss of income, and able to do some, but not all, of his or her regular occupation’s substantial and material duties or able to do all of these duties, but not for as long a time or as effectively as before. The insured must also be under the care of a physician. If the insured is unable to earn at least 20 percent of his or her indexed prior monthly earnings, The Standard will pay the policy’s basic monthly benefit. For any one continuous disability, each of the first six monthly payments will not be less than 50 percent of the policy’s basic monthly benefit. continued on next page Residual Disability Rider This rider is always issued with Protector Essential policies. Return to Table of Contents

81 © 2010 Standard Insurance Company 11399PPT (Rev 7/14) SI/SNY A Total Disability Benefit does not have to be paid before the Residual Disability benefit is payable. The rider also pays a Recovery Benefit if the insured returns to work at least 30 hours per week immediately after a period of disability for which Residual Disability benefits were paid. The Recovery Benefit will be payable in a lump sum, and will equal the lesser of: 1)six times the policy’s basic monthly benefit, 2)the total amount of residual benefits paid prior to recovery or 3)the number of months remaining in the Maximum Benefit Period times the policy benefit amount. Residual Disability Rider This rider is always issued with the Protector Essential policy. Return to Table of Contents

82 © 2010 Standard Insurance Company 11399PPT (Rev 7/14) SI/SNY This rider allows for the purchase of benefit increases on each policy anniversary until the rider’s expiration date, subject only to financial underwriting and policy requirements. Future Purchase Option Return to Table of Contents

83 © 2010 Standard Insurance Company 11399PPT (Rev 7/14) SI/SNY This rider pays an additional benefit after 365 days of continuous disability. The monthly benefit is a percentage of the base amount. The base amount for any month is the total amount of disability benefits payable under the policy and all other riders made part of the policy, except this rider and the Catastrophic Disability Benefit Rider continued on next slide Indexed Cost of Living Rider Return to Table of Contents

84 © 2010 Standard Insurance Company 11399PPT (Rev 7/14) SI/SNY The percentage applied is based on the average annual change in the Consumer Price Index For All Urban Consumers subject to a cap of either 3 percent or 6 percent, whichever is selected on the application. The owner also has the option, upon recovery from disability, of purchasing the benefit increases provided by the rider during the disability. Evidence of health is not required for this rider. Indexed Cost of Living Rider Return to Table of Contents

85 © 2010 Standard Insurance Company 11399PPT (Rev 7/14) SI/SNY This rider pays an additional benefit if the insured is receiving the benefit for total disability and is unable to perform at least two activities of daily living (ADLs), has a severe cognitive impairment or is presumptively totally disabled. ADLs include bathing, continence, dressing, eating, toileting and transferring. Transferring means moving into and out of a bed, chair or wheelchair. Catastrophic Disability Benefit Rider Return to Table of Contents

86 © 2010 Standard Insurance Company 11399PPT (Rev 7/14) SI/SNY Exclusions From Coverage Protector Essential policies Return to Table of Contents

87 © 2010 Standard Insurance Company 11399PPT (Rev 7/14) SI/SNY The Standard will not pay benefits for the first 90 days of disability due to pregnancy or childbirth, disability due to war, disability caused by committing a felony or participation in a riot, or disability caused by intentionally self- inflicted injury. The Standard will not pay benefits for a pre-existing condition unless it is disclosed on the application and it is not specifically excluded from coverage. continued on next slide Exclusions from coverage Return to Table of Contents

88 © 2010 Standard Insurance Company 11399PPT (Rev 7/14) SI/SNY A pre-existing condition is any mental or physical condition for which: The insured has consulted a physician, and received medical treatment, services or diagnostic procedures, or The insured has taken prescription drugs or medications, or A reasonably prudent person would have sought medical advice, care or treatment, during the 365 day period preceding the policy’s effective date. Exclusions from coverage Return to Table of Contents

89 © 2010 Standard Insurance Company 11399PPT (Rev 7/14) SI/SNY There are three kinds of disability Return to Table of Contents

90 © 2010 Standard Insurance Company 11399PPT (Rev 7/14) SI/SNY Many people, when asked to visualize a disabling event, will picture an event like a car accident. Even though it is the type of disabling event most likely to be imagined, it is the kind of event least likely to occur. Disabling Events Return to Table of Contents

91 © 2010 Standard Insurance Company 11399PPT (Rev 7/14) SI/SNY There are three kinds of disability

92 © 2010 Standard Insurance Company 11399PPT (Rev 7/14) SI/SNY Disability claims at The Standard Return to Presentation Table of Contents

93 © 2010 Standard Insurance Company 11399PPT (Rev 7/14) SI/SNY The Standard’s claims management approach is responsive, ethical and fair. We understand that claimants need both financial and emotional support. The Standard teams medical and rehabilitation experts with claims specialists to help customers during their recovery. We take good care of your customers

94 © 2010 Standard Insurance Company 11399PPT (Rev 7/14) SI/SNY About The Standard Return to Table of Contents

95 © 2010 Standard Insurance Company 11399PPT (Rev 7/14) SI/SNY The Standard is one of the leading disability insurance companies in the nation. If you would like to find out more about The Standard, please visit standard.com standard.com Financial Strength, Portfolio and Financial Ratings History Company Leadership Corporate Philanthropy About The Standard Return to Table of Contents

96 © 2010 Standard Insurance Company 11399PPT (Rev 7/14) SI/SNY Resources Return to Presentation Table of Contents

97 © 2010 Standard Insurance Company 11399PPT (Rev 7/14) SI/SNY The Protector Series Product Guide The Standard’s IDI insurance professional website at It’s easy to find IDI sales, marketing and reference materialsIt’s easy to find IDI sales, marketing and reference materials Resources Return to Presentation Table of Contents

98 © 2010 Standard Insurance Company 11399PPT (Rev 7/14) SI/SNY 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 is licensed to solicit insurance business in only the state of New York. Forms B152, B170 Return to Table of Contents


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