The Standard is a marketing name for Standard Insurance Company (Portland, Oregon), licensed in all states except New York, and The Standard Life Insurance Company of New York (White Plains, New York), licensed only in New York. Products and availability vary by state and are solely the responsibility of the applicable insurance company.
The Standard Launches Group Voluntary Long Term Disability Insurance for Educators and Administrators
PORTLAND, Ore.--(BUSINESS WIRE)--Standard Insurance Company ("The Standard"), a subsidiary of StanCorp Financial Group, Inc. (NYSE: SFG), introduces a new Long Term Disability (LTD) insurance product to help educators and other school employees protect their incomes.
Designed with flexibility in mind, this Group Voluntary LTD from The Standard allows school employees to select the features and options that will best fit their personal income-protection needs. Voluntary LTD pays employees a monthly benefit in the event they cannot work because of a covered illness or injury. The product provides coverage for disabilities that occur 24 hours a day, an Employee Assistance Program (for customers with 10-2,500 covered employees) and automatic premium payments via payroll deduction.
“Voluntary LTD Insurance for Educators and Administrators helps shield employees, their lifestyles and those who count on them from the unexpected loss of income. And, as a popular employee benefit, LTD insurance can help attract and retain educators and administrators,” said Jane E. Hood, Vice President of Employee Benefits Marketing at The Standard.
This Voluntary LTD insurance allows employees to choose their benefit amount in increments of $100 up to 66-2/3 percent of their predisability earnings. The product also offers a choice of benefit waiting periods and maximum benefit periods. And like all of The Standard's products, Voluntary LTD Insurance for Educators and Administrators is backed by a commitment to excellent customer service.
About The Standard
StanCorp Financial Group, Inc. (“StanCorp”) (NYSE: SFG) through its subsidiaries marketed as The Standard — Standard Insurance Company, The Standard Life Insurance Company of New York, StanCorp Investment Advisers, Standard Retirement Services, StanCorp Equities, StanCorp Trust Company and StanCorp Mortgage Investors — is a leading provider of financial products and services. The Standard serves approximately 8.2 million customers nationwide as of March 31, 2007 with group and individual disability insurance, group life and dental insurance, retirement products and services and investment advice. For more information about The Standard, visit www.standard.com.
Information in this news release includes certain statements related to projected growth and future events. These statements are "forward-looking" statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Because such statements are subject to risks and uncertainties, actual results in future periods may differ materially from those expressed or implied by such forward-looking statements. See StanCorp's latest annual report on Form 10-K with the Securities and Exchange Commission for a description of the types of uncertainties and risks that may affect actual results.
StanCorp Financial Group, Inc.
Bob Speltz, 971-321-3162
StanCorp Financial Group, Inc.