The Standard has a history of helping small companies fulfill their needs for employee benefits. Our line of group insurance products enables small business owners with two or more employees to provide valuable group insurance coverage. Designed specifically for the small business market, our plans offer value through the right combination of features and service.
Standard Select Group Life Insurance offers employers the opportunity to help protect employees and their families from financial hardship in the event of death. Each group Life insurance policy includes Accidental Death and Dismemberment (AD&D) coverage and the option for Dependents Life coverage.
Standard Select Group Short Term Disability (STD) Insurance offers an attractive way for employers to supplement their sick leave program. The STD benefit is 60 percent of predisability earnings, reduced by deductible income (subject to a maximum amount). Standard Select STD plan is not available in states with statutory disability laws.
Standard Select Group Long Term Disability (LTD) Insurance plans provide a monthly benefit to eligible employees who are partially or totally disabled due to a covered physical disease, injury, pregnancy or mental disorder. The LTD benefits range from 50 to 66 2/3 percent of predisability earnings (based on industry and number of eligible employees and subject to a maximum amount), reduced by deductible income.
Standard Select Group Dental Insurance provides employers with a choice of plan designs that enables them to find the right mix of dental benefits and costs for its employees. Under each plan design, dental procedures are classified as Type 1 (preventive), Type 2 (basic) or Type 3 (major) with coverage and reimbursement levels set accordingly.
Each of the offerings of Standard Select is available as stand-alone coverage or as part of a more complete benefits package. In addition, contributory Life, STD and Dental plans are available for businesses that want to share the cost of coverage with employees. LTD is available only on an employer-paid basis.
Group Insurance Plan Highlights
- Guarantee issue amounts based on number of eligible employees mean group LTD and STD coverages are available without submitting evidence of insurability (LTD coverage includes an exclusion for preexisitng conditions).
- Range of available STD and LTD benefit waiting periods (the length of time an employee must be disabled before benefits become payable).
- Group Life coverages available without submitting evidence of insurability for employers with three or more employees.
- Dependents Life and Dental insurance available for eligible dependents.
- Plan design choices accommodate differing needs of employers based on size and/or industry.
With the comprehensive Group Life, LTD, STD and Dental insurance options from The Standard, a small business can fulfill many of its employee benefits needs with just one company.
Save Time With AdminEASE
Among many plan highlights, Standard Select gives customers the ability to streamline benefits administration and save valuable time with AdminEASESM, The Standard's web-based service. Using this easy, online tool, administrators can pay premiums online, add or change employee coverage, file claims and monitor status, and perform many other functions.