Spring 2019 Case of the Quarter

May 8, 2019

This 500-attorney IDI plan was taken over from another carrier. The main selling point? True Specialty Own Occ, offered by The Standard through the Own Occupation Rider.

Under the previous plan, insured attorneys could collect total disability benefits while disabled only if they did not work at all. Now they can choose to work in another job, even if they are unable to perform the substantial and material duties of their regular occupation due to sickness or injury. The freedom to work was key for this case.  

The Standard also offered expanded coverage in other ways for a minimal increase in premium. We added features not available with the previous plan, such as unlimited Mental Disorder/Substance Abuse coverage, a To-Age-67 benefit period (vs. To-Age-65) and a 33 percent increase in monthly maximum benefit.

 

Industry
Law

GSI Plan Size
500 partner shareholders

In Force Group LTD Coverage
60% to $20K

Solution
60% to $10K

Additional Benefits
Gender-neutral rates
Portable policies
Own Occupation Rider
Enhanced Residual Disability Rider
Noncancelable Policy Rider
Unlimited MDSA 

Discount
30%

Annual Premium
$630,689