Platinum Advantage

With Platinum Advantage, you can provide clients with a tailored product that matches their occupation and unique needs at the right price point. Through your partnership with your General Agent, you’ll have the support of our teams and processes to help with client questions during the application process. Not only that, when your clients have a claim, you can be certain that we’ll pay on our promise to them. This truly is the start of something big.

What Makes Platinum Advantage Unique?

Family Care Benefit

Offer your clients coverage that provides them with a benefit 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 and provides a monthly benefit for an income loss of 20 percent or greater, reducing the financial impact of income loss and medical expenses when caring for a family member.1

Recent data illustrate the need for a benefit to help individuals faced with caring for seriously ill family members:

  • 23 percent of adults ages 45 to 64 care for an aging adult.2
  • About one in five caregivers report experiencing financial strain as a result of providing care.3

What Makes Platinum Advantage Flexible?

No-Cost Riders

Automatic Increase Benefit Rider

Help your clients ensure their coverage keeps up with increases to their income. This rider automatically provides basic monthly benefit increases of 4 percent each year, for six consecutive years, without evidence of insurability.

 

Benefit Increase Rider

Present your clients with the option to purchase additional coverage once every three years on their policy anniversary, without going through medical underwriting. This rider provides clients with increased benefits to align with larger increases in income. Clients may also apply for an accelerated increase prior to the third anniversary, if they meet eligibility requirements stated in the rider.

Optional Riders

Residual Disability Riders

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

  1. Enhanced — Under this rider, your clients 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, your clients will be considered residually disabled if they have at least a 20 percent loss of income.
     
  2. Basic — Under this rider, your clients 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, your clients 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. Your clients 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.4

 

What's Included in the Platinum Advantage Policy?

Base

  • Family Care Benefit
  • Regular Occupation Definition of Total Disability
  • Guaranteed Renewable Policy
  • Total Disability Benefit
  • Presumptive Disability Benefit
  • Rehabilitation Benefit
  • Survivor Benefit
  • Premium Waiver Benefit
  • Choice of Benefit Periods

Riders

  • Automatic Increase Benefit Rider (AIB) – no charge
  • Benefit Increase Rider (BIR) – no charge
  • Catastrophic Disability Benefit Rider (CAT)
  • Indexed Cost of Living Rider (ICOL)
  • Noncancelable Policy Rider
  • Own Occupation Rider
  • Residual Disability Rider (Enhanced, Basic or Short-Term)
  • Student Loan Rider

 

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

2 5 Facts About Family Caregivers; Pew Research Center; Nov.18, 2015; http://www.pewresearch.org/fact-tank/2015/11/18/5-facts-about-family-caregivers

3 Caregiving in the U.S.; National Alliance of Caregiving and AARP Public Policy Institute; June 2015; http://www.aarp.org/content/dam/aarp/ppi/2015/caregiving-in-the-united-states-2015-report-revised.pdf

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