Employer-Sponsored Income Protection Offers Coverage and Convenience
Consider yourself fortunate if your employer offers Platinum Advantage Guaranteed Standard Issue income protection insurance. This plan helps you pay your bills and maintain your current lifestyle if you are injured or sick and cannot work.
Platinum Advantage GSI offers advantages that aren't typically available to individuals applying for coverage on their own, including:
- Discounted premium rates
- No medical questions
- Coverage you can take with you if you leave your employer
- Identical rates for women and men
- Coverage for employees up to age 99
- Coverage that grows with you throughout your career, keeping pace with your salary increases
Platinum Advantage GSI is not available in California, Connecticut, Delaware, District of Columbia, 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.)
Protect Your Lifestyle With Higher Income Protection
You may already have employer-sponsored long term disability insurance, which is designed to replace 60 percent of your base salary but is often capped at a lower monthly amount. When you enroll in Platinum Advantage GSI and combine it with your LTD coverage, you can raise your coverage amount to an optimal level. In addition, bonuses, distributions and other incentive income are covered with GSI.
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.
Unique Features of Platinum Advantage
Family Care Benefit
This benefit, which is exclusive to The Standard, lets you take time away from work to care for a child, parent or spouse with a serious health condition. It provides a monthly benefit if you are working 20 percent fewer hours and have an income loss of 20 percent or greater, reducing the financial impact of income loss and medical expenses while caring for a family member.1
Residual Disability Riders
These riders provide a benefit if you 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 — Enhanced, Basic and Short-Term.
Own Occupation Rider
This rider helps highly specialized professionals who become disabled and are unable to perform the substantial and material duties of their regular occupation, even if they are working in another occupation for wage or profit.2
Additional Features and Riders That May Be Available to You
- Benefit for Total Disability: Regular Occupation Definition3
- Guaranteed Renewable Policy
- Total Disability Benefit
- Presumptive Disability Benefit
- Rehabilitation Benefit
- Survivor Benefit
- Premium Waiver Benefit
- Transplant Surgery Disability Benefit
- Pre-Existing Conditions Limitation Endorsement
- Mental Disorder/Substance Abuse 24-Month Limitation Endorsement
- Catastrophic Disability Benefit Rider
- Indexed Cost of Living Benefit Rider
- Noncancelable Policy Rider4
Have you checked on your long term disability insurance coverage lately? Review your company benefits to make sure you have adequate income protection.
1 Family members include your spouse or domestic partner, parents and children (including adopted children, stepchildren and children of your domestic partner).
2 Regular occupation is the occupation in which you are regularly engaged at the time disability begins and can include a professionally recognized specialty in medicine or dentistry or as a trial attorney.
3 In Florida, during the first 12 months of disability, you may be working in another occupation and still be considered totally disabled.
4 Noncancelable policy provisioned are incorporated into the base policy in Florida.
Protector PlatinumSM Guaranteed Standard Issue is only available in California, Connecticut, Delaware, District of Columbia, Montana, New York, North Dakota and South Dakota. For all other states, see the Platinum Advantage GSI tab.
Included in a Protector PlatinumSM GSI Policy
Total Disability Benefit
This provision pays benefits if you cannot work in your regular occupation because of a total disability, as defined by the policy.
Presumptive Total Disability Benefit
This benefit presumes you are 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, use of one hand and one foot.
Partial Disability Benefit
If you are partially disabled, we'll pay 100 percent of the basic monthly benefit for the first six months regardless of the income you earned while returning to work. Afterward, we pay a portion of the benefit based on the amount of income lost that month.
If you participate in a rehabilitation program to prepare for returning to full-time work, the rehabilitation benefit pays for the reasonable costs of the program.
After you recover from a disability, we pay recovery benefits if you continue to experience a loss of income due to the injury or sickness that caused the disability.
This provision pays a survivor benefit for three months beyond the date of your death, if you die while disability or recovery benefits are payable.
Cosmetic or Transplant Surgery Benefit
This provision pays a monthly benefit if you are disabled more than six months after the policy's effective date from a sickness caused by cosmetic or transplant surgery.
Waiver of Premium Benefit
This provision waives all premiums due under the policy while disability or recovery benefits are payable.
Presumptive Total Disability Benefit
We presume you are eligible for the total disability benefit if an injury or illness results in loss of speech, hearing in both ears, sight in both eyes or the use of two limbs, as defined by the policy.
The employer may choose one or more of these riders with the plan.
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 based on changes in the Consumer Price Index while you remain disabled.
Catastrophic Disability Benefit Rider
This rider pays an additional monthly benefit if you are unable to perform two or more activities of daily living, require substantial supervision due to severe cognitive impairment or are presumptively disabled.
Own Occupation Rider
This rider changes the definition of disability so that you may be eligible for benefits if disabled in your regular occupation, but earning income from another occupation.
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.