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finder.com’s rating: 3.5 / 5.0
★★★★★
No
Short term disability
Yes
Long term disability
Benefit period | 2 years, 5 years, 10 years, or to age 65 or 67 |
---|---|
Waiting period | 60, 90, 180 or 365 days |
Coverage amount | $500–$20,000 |
Individual credit | |
Available states | All states except New York |
Policy riders |
No info available |
Simplified issue | No |
Review by
Katia Iervasi is a staff writer who hails from Australia and now calls New York home. Her writing and analysis has been featured on sites like Forbes, Best Company and Financial Advisor around the world. Armed with a BA in Communication and a journalistic eye for detail, she navigates insurance and finance topics for Finder, so you can splash your cash smartly (and be a pro when the subject pops up at dinner parties).
One of the largest disability insurers in the US, The Standard is well-placed to give its customers options — in terms of policies, benefits and riders. It set itself apart by offering a unique family care benefit to caregivers who lose income or working hours as a result of a loved one’s disability.
The company is old-school in that you’ll need to speak to a rep to apply for coverage and file a claim. If you’d like to manage your policy online, compare disability insurance providers.
The Standard offers two disability insurance policies for business owners:
The benefits and riders vary between policies. Your Platinum Advantage, Protector Platinum or Platinum Essential plan might include the following features.
The Standard has been accredited with the Better Business Bureau (BBB) since 1958, and holds an A+ rating. But customers award the insurer 1.2 out of 5 stars, with many of the reviews citing poor customer service and a frustrating claims process. The BBB also records 47 complaints in the past three years, which were promptly addressed by the insurer.
While it’s worth noting the customer service complaints, keep in mind that these reviews reflect the company as a whole — not just its disability insurance department.
It’s important to choose a financially strong insurer because you might not file a disability claim for years. The Standard scores top-tier ratings from the major agencies and currently manages $30.16 in assets. As a policyholder, you can assume the insurer has the financial resources to pay out claims in the foreseeable future.
Agency | Rating |
---|---|
A.M. Best | A (Excellent) |
Moody’s | A1 (Good) |
Standard & Poor’s | A+ (Strong) |
Fitch | N/A |
J.D. Power | N/A |
You’ll need to speak to a rep. Here’s how:
Founded in 1906 by an immigrant named Leo Samuel, The Standard was originally called Oregon Life Insurance Company. Samuel’s goal was to provide life insurance to the Pacific Midwest, and the company made its mark for being one of the first to offer a waiver of premium feature.
Over the next few decades, the company changed its name to The Standard and became a mutual insurance company. It began selling annuities, accidental death and dismemberment, retirement plans and dental and disability insurance to individuals and organizations.
Today, the insurer is committed to giving back to the community. The Standard Charitable Foundation is behind initiatives like the Employee Giving Campaign — which raised $4.4 million for schools and nonprofits in 2017.
★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor
Our experts analyze disability insurance companies to help you find the best income protection policy for you.
We assess each company’s financial strength and customer satisfaction, as well as policy features, benefit and elimination periods and available riders. We then give each insurer a score between one and five stars that reflects available options and industry reputation.