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What GI IDI plans are available if there is no existing LTD?
Mandatory GI IDI
When Old Fashioned Underwriting is the best choice
Send Receipt Agreements so policies can be placed in force
Questions?
The Standard GI NEWS Archive
What guarantee issue individual disability income insurance can I offer where there is no existing group long term disability plan in place?
When you approach an employer with no group LTD plan in place, nor a desire to pursue a LTD plan, what are your options?
Mandatory GI IDI offers are a good choice for small businesses when:
  • There are a minimum of 10 qualifying employees in the group or class.
  • Available coverage starts at $2,000, with $200 more for each additional employee in the plan, to a maximum of $3,500 GI IDI benefit per month for each employee.
  • Plan design offers 60% income replacement with the choice of either taxable or non-taxable benefits.
  • Available to all occupation classes.
  • Plan design is the same for all employees in the group.
Discount
20%.
Riders available
Noncancelable Policy Rider
Residual Disability Rider
Own Occupation Benefit Rider
Waiting Periods
90 or 180 days
Benefit periods
Age 66/67 or five years.
Helpful information to provide to The Standard’s GI IDI team when submitting Mandatory GI cases for small businesses
  • If there is no existing LTD, why not?
  • Is the employer looking to replace existing LTD?
When Old Fashioned UnderwritingSM is the best choice
For voluntary IDI plans in small businesses, Old Fashioned Underwriting (OFU)1 may be the best choice where there are fewer than 10 qualifying employees and there is no existing LTD. With OFU, covered employees may be eligible for up to $5,000 in monthly benefits and they can choose from riders not available under GI IDI.
1Unlike guarantee issue coverage, applications for Old Fashioned Underwriting are medically underwritten, based on the answers provided in the application for insurance. The Standard relies on the truth and accuracy of the information provided in deciding whether to offer coverage under OFU.
Important: Send in Receipt Agreements so your GI IDI policies can be placed in force
Did you know that The Standard cannot place your GI IDI polices in force until the signed Receipt Agreement, Form 11441, has been received at The Standard’s home office?
Receipt Agreements are mailed out with each new GI case or when there are additions to existing GI cases. The signed Agreement and the attached Exhibit A, must both be returned together, and be signed by the employer’s authorized representative and by the producer, before policies can be placed in force.
These two pages must be sent to The Standard's home office within 20 days of policy delivery even if premium payment has already been sent.
Email your signed Receipt Agreements to gsissue@standard.com to ensure your policies are placed in force in the fastest possible time.
Questions about GI?
Please contact GSI@standard.com or call 800.378.6058 if you have general questions about GI IDI. We are always happy to help you.
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Standard Insurance Company, Individual Disability Insurance,
1100 SW Sixth Avenue, Portland, OR 97204, USA.