Offer 3 Residual Choices for When Clients Can’t Work Full Time

June 30, 2021

The Standard’s Platinum Advantage offers the ultimate flexibility in residual disability coverage. With three choices of Residual Disability riders – Enhanced, Basic and Short-Term – you can offer the best solution for each client.

To help you choose the right rider, start by evaluating a client’s expected coverage needs. Use this chart to determine how each rider can help clients maintain earnings if they lose income because they can’t work at full capacity due to illness or injury.

	Enhanced Residual	Basic Residual	Short-Term Residual
Available to	All occupational classes except 2A, 2P, A, B	All occupational classes except A and B	Only occupational classes 2A, 2P, A, B
How it works	Benefits will be paid proportionate to the loss of income, but no less than 50% of the basic monthly benefit for the first 12 months benefits are payable. Insured individual is residually disabled during the benefit waiting period by showing a loss of time or duties or income. This means the individual could satisfy the waiting period with no earnings loss. After the waiting period, the individual must show a loss of at least 20% income.	Benefits will be paid proportionate to the loss of income, but no less than 50% of the basic monthly benefit for the first six months benefits are payable. Insured individual must show a loss of income and either a loss of time or duties during the waiting period and the benefit period.	Benefits will be paid at 50% of the basic monthly benefit for a maximum of six months. Insured individual must show a loss of income and an inability to perform one or more duties or inability to perform all duties for more than 50% of the time during the waiting period and the benefit period.¹
Minimum benefit guarantee	Up to 12-month payment of at least 50% of the monthly benefit amount (could be higher)	Up to six-month payment of at least 50% of the monthly benefit amount (could be higher)	Up to six-month payment of 50% of the monthly benefit amount
Recovery Benefit	Benefits will be paid if the insured individual returns to work full time but still suffers a loss of at least 20% of income due to the disability being recovered from. Allows the insured individual to return to the same or different occupation.	Benefits will be paid if the insured individual returns to work full time but still suffers a loss of at least 20% of income due to the disability being recovered from. Requires the insured individual to return to the same occupation.	Not included.
Designed for	People who may not show an earnings loss after losing some job time or duties, such as business owners and equity partners. Reason: They could satisfy the waiting period despite showing no earnings loss. People in specialized work. Reason: Insured individuals are not required to return to their regular (or same) occupation to be eligible for the Recovery Benefit.	Most clients other than those listed to the left. People who would find the premium savings meaningful compared to Enhanced Residual.	People who want an affordable way to protect against a partial earnings loss.