I am pleased to announce The Standard's newest mandatory guarantee issue program for 4A and 5A occupation classes: the 5 – 9 Lives Guarantee Issue Program. I think you will be pleased with the increased guarantee issue opportunities this new program will present to you for small GI IDI cases and the carve-out opportunities it provides to mid-sized employers.
Happy selling,
Mike Feuerstein
Manager, Guarantee Issue
The 5 – 9 Lives Guarantee Issue Program
 
Under this program for 4A and 5A occupation classes, you can now quote up to $2,500 in mandatory GI IDI benefits from The Standard, with any carrier's underlying Long Term Disability (LTD) coverage. GI IDI rates are gender-neutral and discounted 20%.
When there is no underlying LTD, The Standard can issue this GI coverage using the criteria noted in this earlier GI NEWS.
Features:
  • Available to occupation classes 5A and 4A, earning $50,000+.
  • The maximum monthly benefit for five or six lives is $2,000.
  • The maximum monthly benefit for seven to nine lives is $2,500.
  • The program is available on a taxable or non-taxable benefit basis. Taxation and coverage schedules apply per normal GI underwriting guidelines.
  • Employers can offer this program to eligible members in a prequalified employee group, such as an executive carve-out, based on salary or job title. The program could also be offered to eligible employees of a small business.
  • The Catastrophic Disability Rider, Own Occupation Rider and Residual Disability Rider are available at the case level.
Minimum Requirements:
  • 100% mandatory participation;
  • Noncancelable Rider;
  • $500 minimum benefit.
The maximum benefit under the 5 - 9 Lives Guarantee Issue Program is determined by the number of insurable lives schedule, and the second highest benefit amount rounded up to the nearest $500. For example, in a case with seven lives, where the highest income earner qualifies for a $2,500 GI benefit and the second highest income earner qualifies for a $1,700 GI benefit, the maximum benefit offered for the case would be $2,000.
Updated Mandatory GI Guidelines
  The Mandatory GI Guidelines, form 10437MGSI, have been updated to reflect the 5 – 9 Lives Program as well as your options when there is no underlying LTD.
Questions
  If you have questions about this new 5 – 9 Lives Guarantee Issue Program, please contact your Regional Director.
Unsubscribe to The Standard GI News. Privacy Policy.
Standard Insurance Company, Individual Disability Insurance,
1100 SW Sixth Avenue, Portland, OR 97204, USA.