Guaranteed Standard Issue

Help Your Clients Address Disability Coverage Gaps

Platinum Advantage Guaranteed Standard Issue income protection insurance can be a game-changer for employers who offer long term disability (LTD) insurance.

LTD insurance is designed to replace 60 percent of an employee's base salary but is often capped at a lower monthly amount. For highly compensated employees, this amount won't cover their income protection needs, resulting in a coverage gap.

Employers who offer Platinum Advantage GSI can help raise the coverage amount, which is especially appealing to high earners. A big plus is that bonuses, distributions and other incentive income are covered earnings. Offering this valuable benefit is a way for employers to attract and retain talented employees.

GSI Provides Greater Income Protection
How GSI can help reduce the coverage gap

Assumes LTD plan of 40% income replacement to a $10,000 monthly plan maximum, coordinating with a GSI plan design of 75% replacement to a $10,000 monthly plan maximum, for a combined coverage maximum of $20,000 between plans.

This graph is intended for illustrative purposes only.

Platinum Advantage GSI is not available in California, Connecticut, Delaware, District of Columbia, Florida, Montana, New York, North Dakota and South Dakota. Protector PlatinumSM Guaranteed Standard Issue is the available product for those states (see the Protector Platinum GSI tab and the product availability chart).

Platinum Advantage GSI is available in all states except California, Connecticut, Delaware, District of Columbia, Florida, Montana, New York, North Dakota and South Dakota. Protector PlatinumSM Guaranteed Standard Issue is the available product in those states. (See the Protector Platinum GSI tab.)

What's Included in the Platinum Advantage GSI Policy?

Base

  • Benefit for Total Disability: Regular Occupation Definition

    With Platinum Advantage GSI, an employee is considered totally disabled for the first 24 months if, due to injury or sickness, the employee is unable to perform the substantial and material duties of their regular occupation; the employee is not engaged in any other job or occupation for wage or profit; and the employee is under a physician's care. After the first 24 months, an employee will continue to be considered totally disabled if the employee is unable to perform the substantial and material duties of any occupation, the employee is not engaged in any other job or occupation for wage or profit, and the employee is under a physician's care.

    Regular occupation means the occupation which the employee is regularly engaged in at the time disability begins. If the employee is a physician or dentist and has limited their practice to a specialty recognized by the American Board of Medical Specialties, American Osteopathic Association Bureau of Osteopathic Specialists or American Dental Association, then that specialty will be deemed their regular occupation.

  • Guaranteed Renewable Policy

    If the employee is under the age of 65, the termination date of the policy will be the policy anniversary date that falls on or next following the employee's 65th birthday. Before the termination date, we may change the premium rate but we cannot cancel or make any other changes to the policy as long as the premium payments are up to date. We can only change the premium rate after the policy has been in effect for three years and only if we change the rate for all policies in the employee's same risk class.

  • Total Disability Benefit

    This provision pays benefits if an employee cannot work in their regular occupation because of a total disability, as defined by the policy.

  • Presumptive Disability Benefit

    This benefit presumes the employee is eligible for the total disability benefit if an injury or sickness results in loss of speech, hearing in both ears, sight in both eyes or the use of both hands, use of both feet and use of one hand and one foot.

  • Family Care Benefit

    This benefit helps employees who have a loss of income due to taking time away from work to care for a child, parent or spouse with a serious health condition. See more details below.

  • Rehabilitation Benefit

    If the employee participates in a rehabilitation program to prepare for returning to full-time work, the rehabilitation benefit pays for the reasonable costs of the program.

  • Survivor Benefit

    The policy pays a survivor benefit equal to three times the policy's basic monthly benefit if the employee dies while disability or recovery benefits are payable.

  • Premium Waiver Benefit

    This provision waives all premiums due under the policy while disability or recovery benefits are payable.

  • Transplant Surgery Disability Benefit

    The policy pays a disability benefit if the employee becomes disabled as a result of transplanting a part of his or her body to someone else.

Riders

  • Catastrophic Disability Benefit Rider (CAT)

    This rider pays an additional monthly benefit if the employee suffers a catastrophic disability that prevents them from performing two or more normal daily activities without assistance, or they need supervision for their own health and safety due to severe cognitive impairment, as defined by the policy.

  • Indexed Cost of Living Benefit Rider (ICOL)

    With this rider, the monthly disability benefit will increase by up to 3 or 6 percent annually based on changes in the Consumer Price Index while the employee remains disabled.

  • Noncancelable Policy Rider

    This rider locks in premium rates up until the policy's termination date as long as the premiums are paid by the end of each grace period.

  • Residual Disability Riders (Enhanced, Basic or Short-Term)

    Provides a benefit if the employee is residually disabled, rather than totally disabled, based on loss of income, duties and/or time. See more details about Enhanced, Basic or Short-Term residual disability below.

  • Regular Occupation Extension Policy Rider

    This rider changes the policy's definition of total disability so that, instead of requiring the inability to work in any occupation after the first 24 months of disability, an employee will continue to be considered totally disabled if they can't perform the substantial and material duties of their regular occupation and they are not working in another occupation for wage or profit.

  • Own Occupation Rider

    This rider changes the definition of total disability so that an employee may be eligible for benefits if disabled in their regular occupation, but earning income from another occupation. See more details below.

Endorsements

  • Pre-Existing Conditions Limitation Endorsement

    Benefits are paid only if, on the date the employee becomes disabled, the policy has been continuously in force for 12 consecutive months and only if the pre-existing condition is not specifically excluded from coverage by amendment or endorsement.

  • Mental Disorder/Substance Abuse 24-Month Limitation Endorsement

    This endorsement limits the period of benefit payments to 24 months for a disability due to a mental disorder and/or substance abuse.

Meet Your Clients' Unique Needs

Family Care Benefit

Offer your clients a benefit that helps employees if they need to take time away from work to care for a child, parent or spouse with a serious health condition. This benefit is exclusive to The Standard. It provides a monthly benefit if an employee works 20 percent fewer hours and has an income loss of 20 percent or greater, reducing the financial impact while caring for a family member.1

What Makes Platinum Advantage GSI Flexible?

Optional Riders

Residual Disability Riders

Provides a benefit if individuals are residually disabled, rather than totally disabled, based on loss of income, duties and/or time. Platinum Advantage GSI comes with three residual disability benefit options:

  1. Enhanced — Under this rider, individuals will be considered residually disabled if, during the benefit waiting period, they are working in their regular occupation or another occupation but, due to injury or sickness, have at least a 20 percent loss of income or duties or time. After the benefit waiting period, individuals will be considered residually disabled if they have at least a 20 percent loss of income.
     
  2. Basic — Under this rider, individuals can receive disability benefits if they are working in their regular occupation or another occupation but, due to injury or sickness, have at least a 20 percent loss of income and either a loss of duties or time.
     
  3. Short-Term — Under this rider, individuals can receive disability benefits for a maximum of six months if they are working in their regular occupation but, due to injury or sickness, are unable to do one or more of their substantial and material duties, or can do all of them but for not more than half the time. They must also have at least a 20 percent loss of income.

Own Occupation Rider

Offer coverage for highly specialized professionals who become disabled and are unable to perform the substantial and material duties of their regular occupation, even if they can work in another occupation for wage or profit.2

 

1 Family members include an employee's spouse or domestic partner, parents and children (including adopted children, stepchildren and children of the employee's domestic partner).

2 Regular occupation is the occupation in which the employee is regularly engaged at the time disability begins and can include a professionally recognized specialty in medicine or dentistry or as a trial attorney.

Protector PlatinumSM Guaranteed Standard Issue is only available in California, Connecticut, Delaware, District of Columbia, Florida, Montana, New York, North Dakota and South Dakota. For all other states, see the Platinum Advantage GSI tab and the product availability chart.

Included With Every Protector PlatinumSM GSI Policy

  • Total Disability Benefit

    We pay benefits to employees who cannot work in their regular occupations because of a total disability, as defined by the policy.

  • Presumptive Total Disability Benefit

    We presume an employee is eligible for the total disability benefit if an injury or illness results in loss of speech, hearing in both ears, sight in both eyes, use of both hands, use of both feet or use of one hand and one foot.

  • Partial Disability Benefit

    If the insured is partially disabled, we'll pay 100 percent of the disability benefit for the first six months of partial disability regardless of the income earned while returning to work. Afterward, we pay a portion of the benefit based on the amount of income lost that month.

  • Rehabilitation Benefit

    If the insured participates in an approved rehabilitation program to prepare for returning to full-time work, we'll pay for the reasonable costs of the program.

  • Recovery Benefit

    After the insured recovers from a disability, we pay recovery benefits if the insured continues to experience a loss of income due solely to the injury or sickness that caused the disability.

  • Survivor Benefit

    We'll pay a survivor benefit for three months beyond the date of the insured's death, if the insured dies while disability or recovery benefits are payable.

  • Cosmetic or Transplant Surgery Benefit

    We pay a monthly benefit if the insured is disabled more than six months after the policy's effective date from a sickness caused by cosmetic or transplant surgery.

  • Waiver of Premium Benefit

    We waive all premiums due under the policy while disability or recovery benefits are payable.

Optional Riders

  • Noncancelable Policy Rider

    This rider locks in premium rates until the policy's termination date as long as the premiums are paid by the end of each grace period.

  • Indexed Cost of Living Benefit Rider

    With this rider, the monthly benefit will increase by up to 3 or 6 percent annually while the insured remains disabled, based on changes in the Consumer Price Index.

  • Catastrophic Disability Benefit Rider

    We pay an additional monthly benefit if the insured is unable to perform two or more activities of daily living, requires substantial supervision due to severe cognitive impairment or is presumptively disabled.

  • Own Occupation Rider

    This rider changes the definition of disability so that the insured may be eligible for benefits if disabled in his or her regular occupation, but earning income from another occupation.

Endorsement

  • Mental Disorder/Substance Abuse 24-Month Limitation Endorsement

    This endorsement limits the period of benefits payments to 24 months for a disability due to a mental disorder and/or substance abuse.

Take a Closer Look

For more details, view or download a Protector PlatinumSM GSI summary or sample policy.