As a fundamental element of any benefits package, Group Life insurance helps protect employees and their loved ones from financial hardships related to an untimely death. Standard Insurance Company offers flexible and feature-rich life insurance products to meet a variety of employer needs.
Group Life Features
Waiver of Premium: Continues Life coverage without premium payments for employees who are totally disabled
Standard Secure Access: Gives beneficiaries the ability to have benefits of $10,000 or more deposited into an interest-bearing checking account enabling them to earn interest while weighing the important financial decisions that often follow a death
Accelerated Benefit: Allows insured employees with a life expectancy of less than 12 months to collect a portion of their life insurance benefit early
Repatriation Benefit: Supplies an additional benefit that helps to pay expenses related to transporting the remains of employees who die more than 200 miles from their homes
Portability: Provides a convenient option for group life insurance coverage to eligible employees when their employment terminates, with minimal effort for the employer and no increase in the employer’s group premiums
MEDEX® Travel Assist: Helps employees with medical care situations and other emergencies when they travel more than 100 miles from home or internationally
Dependents Life
The Standard offers Dependents Life coverage as an option with Group Life insurance. Insured employees may purchase life coverage for their dependents, including spouses and eligible children, at group rates.
Supplemental Life
Supplemental Life is an option offered with The Standard’s Group Life insurance that enables insured employees and their spouses to increase their life insurance coverage at competitive group rates.
Additional Life
The Standard provides optional Additional Life coverage with Group Life insurance. Additional Life allows insured employees to purchase added term life insurance at group rates. The Standard can tailor the schedule of benefits, evidence of insurability and participation requirements to employers’ specific needs.
Voluntary Life
The Standard offers Voluntary Life plans designed to meet the specific needs of different employer groups. The Standard provides personalized enrollment and product materials that help employers communicate the value of Voluntary coverage to their employees.
Products and provisions described may not be available in all states. Specific provisions may vary by state. The products and coverages have exclusions, limitations, reductions of benefits and terms under which they may be continued in force or terminated. Please contact The Standard for additional information, including costs and complete details of coverage.
GP190-LIFE/S399
