Platinum Advantage GSI

Help your employees replace a higher percentage of their income if they're injured or sick and can't work.

What Makes Platinum Advantage GSI Unique?

Family Care Benefit1

Offer your employees a benefit that helps them 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 at least 20 percent fewer hours and has an income loss of 20 percent or greater, reducing the financial impact of caring for a family member.2

 

Flexibility to Meet Your Needs

Residual Disability Riders3

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:

  • Enhanced
  • Basic
  • Short-Term

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

 

Included in the Platinum Advantage GSI 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.
This provision pays benefits if an employee cannot work in their regular occupation because of a total disability, as defined by the policy.
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, use of both hands, use of both feet and use of one hand and one foot.
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.
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.
This 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.
This provision waives all premiums due under the policy while disability or recovery benefits are payable.
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.

Optional Riders

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.
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.
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.
Provides a benefit if the employee is residually disabled, rather than totally disabled, based on loss of income, duties and/or time.
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.
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.

Endorsements

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

 

Key Features
Discounted premium rates
No medical questions
Coverage they can take with them if they change employers
Identical rates for women and men
Covers incentive income
Coverage for employees up to age 99
Coverage that can keep pace with salary increases

To learn more about GSI and long term disability insurance plans, talk to your broker.

Legal

1 The Family Care Benefit is not available in California, Connecticut or New York.

2 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).

3 In California, a residual disability rider is required. The Enhanced or Short-Term Residual Disability Rider will be added automatically determined by occupation class. The Basic Residual Disability Rider is not available in California.

4 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.

5 In Florida, during the first 12 months of disability, the insured may be working in another occupation and still be considered totally disabled.

6 The Catastrophic Disability Benefit Rider is not available in Connecticut. In California, a Catastrophic Disability Benefit will be paid only if the insured individual is presumptively disabled.

7 Noncancelable policy provisions are incorporated into the base policy in Florida.

8 The MDSA 24-Month Limitation Endorsement is required for all policies in California.

Some products and riders may not be available in all states and some policy provisions may vary by state. The policy has exclusions and limitations and terms under which the policy may be continued or discontinued. For costs and complete details of coverage, please contact your insurance representative or The Standard.

The Standard is a marketing name for Standard Insurance Company (Portland, Oregon), licensed in all states except New York, and The Standard Life Insurance Company of New York (White Plains, New York), licensed only in New York. Products and availability vary by state and are solely the responsibility of the applicable insurance company.

© 2020 StanCorp Financial Group, Inc.