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Selling a Winner: Check Out the Platinum Advantage Report Card

When The Standard launched Platinum Advantage less than a year ago, we called it “the start of something big.” Now we know just how fitting that phrase is. Sales and submitted applications have already broken records. This flexible product is clearly capturing the markets it's designed for.

Doug Waters, second vice president of IDI sales at The Standard, presented the Platinum Advantage report card at our IDI Summit in August. With just seven months of returns, the picture was already clear. “There's no question Platinum Advantage has found its footing in the marketplace,” Doug said. “Early trends show us this product is accomplishing exactly what we wanted it to.”

To make sure you're taking part in this success story, check out these highlights from the Platinum Advantage report card. Then follow up with the clients who match the market. Educate them on the options, and watch your sales become part of something big.

Growth Tells the Story, Options Drive Success

Since the introduction of Platinum Advantage, The Standard's year-over-year disability insurance sales have increased almost 43 percent. The first half of 2017 also brought a record-setting month in IDI applications.

What drove the sales, and how can you echo this success?

  • Target the audience. Occupation classes 5A and 4A continue to lead the way in 2017 sales, with plenty of success in 3A, as well. These classes include business owners, professionals, executives and other office-only positions with a high degree of stability and responsibility. Platinum Advantage is also winning market share with physicians and surgeons (5P and 4S). As the report card shows, these clients readily understand the value.
  • Include a residual disability option. Helping clients choose the right Residual Disability Rider helps protect them in the event of a partial disability. We've seen sales of policies with a residual rider increase throughout the year. In fact, we believe nearly all contracts should include one of the residual riders. We’re happy to see that the numbers are on an upward trend.
  • Show the strength of Guaranteed Renewable. The base Platinum Advantage contract includes this feature at no cost — and that’s great news for clients. Yes, clients can pay an additional 10 percent for the ironclad price guarantee of a Noncancelable Policy Rider. But for many, the cost savings of Guaranteed Renewable are a perfect fit. We offer long-term rate stability, while keeping the policy price competitive.

As a product that's still new to the market, Platinum Advantage is already a thriving success. With a strong base contract and smart options, it provides the right income protection for your clients and incredible sales opportunities for you.

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