I started Insurance Blog by Chris™ because I have a passion for insurance. Here at the blog, our job is to educate and inform people about the best insurance for them. Since then, we have grown into national brands with a large team of researchers helping people understand all forms of insurance.

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Rachael Brennan has been working in the insurance industry since 2006 when she began working as a licensed insurance representative for 21st Century Insurance, during which time she earned her Property and Casualty license in all 50 states. After several years she expanded her insurance expertise, earning her license in Health and AD&D insurance as well. She has worked for small health insu...

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Reviewed by Rachael Brennan
Licensed Insurance Agent

UPDATED: Mar 15, 2021

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The Standard Insurance Company, also known as The Standard, is one of the largest financial companies in the United States. It is headquartered in Portland, Ore. The Standard covers millions of people across the country with short and long-term disability plans that are increasingly popular.

These products include insurance plans for income, business, and employer-sponsored income protection.

The Standard Insurance Disability Insurance Coverage Options

The Standard primarily offers different insurance options, for both shorter and longer-term needs. These policies come with quite flexible features that consumers can tailor to their unique requirements. The Standard also offers individual disability insurance policies, as well as individual annuities.

The base policies for The Standard are the Platinum Advantage and Protector Platinum. These two plans cover individuals who file claims for regular and true own-occupational disabilities. These base policies are also included when considering partial or residual disability compensation for any policy riders.

The benefit period—which is the time a policyholder or one of their dependents receives payments—can last anywhere from two to ten years. The elimination period, or the time between the onset of an injury and the receipt of disability payments, can take anywhere from 30 to 730 days.

The duration of the elimination period depends on the product, too, and the state in which the policyholder or rider resides.

The base policies come with several built-in features. For instance, policyholders and riders can get vocational training and education to help return to work, or lump sum benefit payments if the insured person dies.

Riders are eligible to cash in on the Platinum Advantage, Protector Platinum, and Protector Essential policy.  They can get coverage at no extra charge, as well as the opportunity to buy additional coverage every three years. The additional coverage would not require any medical underwriting.

The Protector Essential Policy

There are numerous benefits to the Protector Essential policy. They include the following list, plus benefits for optional riders.

The optional riders can include a future purchase option, indexed cost of living benefits, and catastrophic disability benefit for riders.

  • Guaranteed Renewable Policy
  • Conditionally Renewable After Termination Date
  • Total Disability Benefit
  • Presumptive Total Disability Benefit
  • Rehabilitation Benefit
  • Residual Disability Benefit
  • Survivor Benefit
  • Waiver of Premium Benefit
  • Cosmetic or Transplant Surgery Benefit

The Platinum Policy

The Platinum Policy is even more extensive. This impressive plan includes the features mentioned in the Protector Essential plus the extras listed below.

Optional riders may also include non-cancelable policy riders.

  • Own Occupation Definition of Disability
  • Compassionate Care Benefit
  • Automatic Increase Benefit
  • Partial Disability Benefit
  • Recovery Benefit
  • Unlimited Coverage for Mental Disorder and/or Substance Abuse
  • Guaranteed Renewable

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The Business Overhead Protector

The Standard offers business protector insurance, which covers the expenses if business owners cannot work due to an acknowledged disability. Known as the Business Overhead Protector, the coverage will step in to assist with utilities, mortgage payments, and wages.

Business owners have the option of buying Business Equity Protector, too, depending on their occupational class.

The type of policy The Standard offers is group insurance. These policies apply to both employers and employees. Options for disability include short- and long-term insurance, as well as:

  • Group Life
  • Group Accidental Death and Dismemberment
  • Group Dental and Vision
  • Group Accident
  • Group Critical Illness
  • Group Hospital Indemnity

Overall Customer Satisfaction

The Better Business Bureau (BBB) has set the bar for business accreditation in the United States for more than 100 years. The goal is to build trust between companies and consumers through honest advertising and transparency. The BBB scored The Standard with an A+ rating, which is the highest possible score.

Customers at the BBB rated The Standard one star out of five based on 12 customer reviews. There have also been 36 complaints filed against The Standard in the last three years. Of those complaints, seven were resolved directly on the website.

Consumer Affairs is another consumer news and resource center that provides people the insight they need to make informed purchases. On the Customer Affairs website, The Standard has 83 consumer reviews with an average rating of one star. Four of the scores were two stars.

The Standard Insurance Disability Pricing

The price of the policy will depend largely on what features you want and how comprehensive the coverage is. Your age, health, occupation, gender, and even hobbies can also influence the price. Similarly, difference insurance companies will assign different weights to these factors, so that costs can vary from one firm to the other.

Here is an example of a typical payout from The Standard. If a mother has Short Term Disability and misses six weeks of work to be with her child, a portion of her wages will be covered. Remember, this is one example, and policies are unique to every policyholder.

If the mother made $950 per week and had a benefit percentage of 60 percentages, she would receive $570 per week. The Standard would deliver the benefits in seven days and would do so over five weeks. Overall, the mother would receive $2,850.

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Financial Strength

A.M. Best: A credit rating agency specializing in insurance, A.M. Best evaluates the overall financial health of an insurance company. A.M. Best gave The Standard an A rating, which indicates a strong position. The Standard also earned a BBB+ rating for long-term financial obligations, such as life insurance.

Moody’s: Another credit agency, Moody’s Investor Service gave The Standard an A1 rating. Moody’s rates companies based on 21 different options with A1 being the fifth highest. The score denotes an “upper-medium grade” where individuals are subject to low credit risk. 

Standard and Poor’s: As one of the Big Three credit-rating agencies, along with Moody’s and Fitch, Standard and Poor’s elevations carry a lot of weight. They gave The Standard an A+ rating, which is the fifth-highest mark possible. Even though it is not among the top scores, an A+ indicates a “strong” assessment worthy of consumer confidence.

Comdex: Comdex is a composite of the scores from the major rating agencies, including A.M. Best, Standard and Poor’s, Moody’s, and Fitch. Scores come on a scale of 1 to 100. The Standard received a Comdex ranking of 82.

Final Thoughts on The Standard Disability Insurance

Millions of Americans trust The Standard with their disability insurance needs. The robust financial services provider offers a wide range of flexible policies, including short- and long-term disability coverage tailored individual plans and favorable group insurance options.

Their reliable coverage and established credit ratings make The Standard one of the most respected businesses in its field.