The Protector Press

Fall 2010

A New Direction For Guarantee Issue

by Mike Feuerstein, Manager, Guarantee Issue Individual Disability Insurance

Concurrent with the introduction of Protector Platinum, The Standard has unveiled a new Guarantee Issue (GI) product for Individual Disability Income (IDI) insurance: Protector Platinum^SM GI. Up to now, The Standard has offered the same product for fully underwritten IDI insurance as for GI. Recognizing that flexibility of product features and price sensitivity are often key issues with GI cases, we have decided to introduce a guarantee-issue-specific individual disability income insurance policy.

The New Protector Platinum GI

Protector Platinum GI has a new GI rate, discount and compensation structure. It is a comprehensive policy: new definitions and rewritten core policy provisions make Protector Platinum GI one of the best GI policies available.

Several sections of the base policy have been completely rewritten. Like Protector Platinum, we believe this policy has the strongest Partial Disability provisions in the industry. The purpose of the Partial Disability Benefit and the Residual Disability Benefit is to encourage insureds to return to work even if they are only able to work part-time. We have removed the barrier that might encourage insureds to remain "totally disabled" by updating the Partial Disability definition, which pays total disability benefits for the first six months of partial disability, regardless of the income earned while claimants are working. This feature is part of every Protector Platinum GI policy.

Protector Platinum GI’s strong base policy can be enhanced with options so you can customize the GI offer to meet the needs of your customers. We understand employers do not all value the same features. With this in mind, we designed Protector Platinum GI with different approaches to Total Disability. It is available:

• With or without true Own Occupation
• With or without unlimited Mental Disorder/Substance Abuse
• With or without one or more of the following riders:
  • – Indexed Cost of Living
  • – Noncancelable Policy
  • – Catastrophic Disability Benefit

The new premium discount and agent compensation structure provides incentives to our insurance representatives as they share in the rewards of writing profitable business. Voluntary GI generates more agent compensation with increased participation. Mandatory GI becomes more profitable with high persistency.

As a leader in the individual disability insurance industry, we are committed to GI. Our experience and expertise allow us to see risks and hidden opportunities that in turn allow us to be innovative. I strongly encourage you to take a look at the Protector Platinum GI. We are very proud of what we have designed. We will help you and your customers achieve financial security so you can both confidently pursue your dreams.