guarantee issue101 standard

© 2010 Standard Insurance Company13409PPT (Rev 11/10)

Guarantee Issue 101

11/10


What is Guarantee Issue?Research the candidate companyTypes of Guarantee Issue

Mandatory• Protector PlatinumSM GI• Protector+SM GI

Voluntary• Protector Platinum GI• Protector+ GI

Case examplesAbout The Standard

Contents


Guarantee Issue is Individual Disability Income Insurance (IDI) offered to employees at the workplaceIt is available • at substantial premium discounts• with no medical underwriting, • limited financial underwriting

What is Guarantee Issue?


• Research the company.

• The more you know, the better prepared you will be to offer a benefits solution.

Research the candidate company


• Provide competitive benefits?• Increase employee retention?• Offer special incentives to key

employees? • Assist employees in gaining access

to benefits they could not get themselves?

• Provide better protection to highly compensated employees?

What are the company’s benefit goals?


In a competitive job market, employers who can offer excellent benefits are more likely to keep valuable employees and attract new ones.

Employee Retention


• do not currently offer Guarantee Issue IDI

• offer disability insurance though a group long term disability (LTD) plan only

• currently offer plans in which a number of employees are reaching their group LTD benefit ceiling

continued

Look for employers who


• currently offer group LTD plans that face significant rate increases due to plan design

• wish to enrich their existing benefits program

• have employees earning significant bonuses

Look for employers who(cont’d)


Types of Guarantee Issue disability income insurance

Mandatory


Mandatory Guarantee Issue IDI• is paid for in whole by the

employer • is part of an employee benefits

package • cannot be accepted or

declined by employees• has terms of coverage which

have been preselected by the employer

Mandatory GI


• 30% off gender-neutral rates for groups of 100 lives or less

• 35% off gender-neutral rates for groups of more than 100 lives

• All occupation classes are eligible except some medical professions.*

• Riders are available• Can cover include incentive and

bonus income

*Please see The Protector Series Reference Product Guide, form 9251REF, for the most up-to-date information.

Protector Platinum GIMandatory

http://www.standard.com/di/forms/di/mkt/9251ref.pdf


• 20% premium discount1

• Minimum 102 lives and 100% participation

• All occupation classes are eligible, except some medical professions3

• Most riders are available• Coverage can include incentive and

bonus income

1. From The Standard’s gender-neutral rates

2. 5 lives if group LTD is from The Standard

3. Please see The Protector Series Reference Product Guide, form 9251REF, for the most up-to-date information.

Protector+ GIMandatory




Types of Guarantee Issue disability income insurance

Voluntary


• 15% off gender-neutral rates if participation meets the target for the eligible group

• 20% off gender-neutral rates if participation exceeds the target for the eligible group

• All occupation classes are eligible except some medical professions*

• Riders are available• Can include incentive and bonus

income• Benefits are not taxable**Please see The Protector Series Reference Product Guide, form

9251REF, for the most up-to- date information.

Protector Platinum GI Voluntary




• 15% premium discount*• Minimum 30% participation or

15 issued lives• All occupation classes are eligible,

except some medical professions** • Riders are available• Can cover incentive and bonus

income

*From The Standard’s gender-neutral rates

**Please see The Protector Series Reference Product Guide, form 9251REF, for the most up-to- date information.

Protector+ GIVoluntary




Value to employers of Guarantee Issue IDI


• Add value to the employer’s total benefit portfolio

• Provide higher income replacement and greater increases in total benefits, than LTD alone

• Offer the option to lock in rates

Guarantee Issue IDI plans from The Standard


Guarantee Issue Case Examples


• 190 employees • Currently offers a group long term

disability (LTD) plan covering 60% of pretax base salaries to a $15,000 monthly maximum benefit.

• Would like to provide additional benefits to 21 key employees whose incomes cap out the LTD plan and who are not insured at the full 60% of income.

Best Accounting


• 60% Mandatory Guarantee Issue plan with a monthly benefit up to $7,500 added to the LTD plan

• With Mandatory Guarantee Issue IDI from The Standard added to their existing LTD plan, the Best firm can provide additional IDI benefits at higher benefit amounts than LTD alone, and cover incentive income.

Best Accounting Solution


• Family-owned business with 90 employees.

• Existing group LTD plan replaces 60% of pretax salary and has a maximum $3,000 monthly benefit

• Allows worksite marketing

Impressions Print Shop


• A perfect candidate for Voluntary guarantee issue IDI in addition to existing LTD.

• Enhances protection for employees while keepings costs down for the employer.

Impressions Print Shop (cont’d)


• Voluntary Guarantee Issue plan, with 75% income replacement to $4,000 a month, in addition to group LTD.

• In a competitive marketplace where benefit portfolios are often a highly prized part of a compensation package, this coverage fits perfectly.

Impressions Print Shop Solution


• 25 employees • Existing group LTD plan replaces

60% of pretax salary and has a maximum $10,000 monthly benefit on base salary only.

• The owners wish to help employees with additional coverage since all of the employees have significant uninsured income under the existing LTD plan

Smart Consultants


• 65% Mandatory Guarantee Issue plan with monthly benefit up to $6,000 added to existing group LTD plan.

• Coverage is portable if employees leave the firm.

• By providing good disability income benefits to its entire staff, the business will retain employees and attract new ones.

Smart Consultants Solution


Guarantee Issue disability income insurance from The Standard addresses an important employer need while giving you the opportunity to significantly boost your bottom line.Contact your sales partner at The Standard ([email protected]), when you believe you have a good GI prospect.

Guarantee Issue IDI plans from The Standard

mailto:[email protected]


About The Standard


• has been keeping its promises to its customers since 1906

• ranks among the top ten disability insurance companies in the nation

• rates 1st among its peers with high levels of customer service, a sound liquidity position and strong financial flexibility*

Click here to find out more about The Standard.

* Peer Comparison: U.S. Specialty Employee Benefit Insurers. Standard & Poor’s Rating services.

The Standard

http://www3.standard.com/net/public/!ut/p/c1/04_SB8K8xLLM9MSSzPy8xBz9CP0os3jvgGBzN29zY0MDLyNTAyM_YyMXF1c3AyDQ9_PIz03VL8h2VAQAd0JeMA!!/dl2/d1/L2dJQSEvUUt3QS9ZQnB3LzZfS1BTN0ZLNzMxMEoyNTAyTjMyRERFRjBFQzE!/

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