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How Strong Is Our Promise to Pay Claims?
The Standard paid $117 million in IDI claims last year. That shows our strength and commitment to our customers.
Here are a few claim examples* to share with your clients. Show them the benefits of Platinum Advantage — and how we keep our promises.
Andrew's Story: Family Care Benefit Means Time for Mom
Attorney, age 32
When Andrew's mother experienced a worsening of Alzheimer's disease, he reduced his work schedule to four days a week. That allowed him to travel to his hometown every week to help with her transition to the memory care wing of the assisted living complex. The Family Care Benefit helped replace his lost income. Andrew qualified because he was working 20 percent fewer hours and lost 20 percent of his income. Over the period of time he cared for his mother, he received monthly benefits totaling six times his policy's basic monthly benefit. That's the maximum amount provided by the Family Care Benefit. Andrew appreciated the freedom to be there for his mom during this difficult transition. Without worrying about his finances.
Megan's Story: Enhanced Residual Rider Delivers
Business Owner, age 37
Megan owns and manages two successful restaurants. She bought a Platinum Advantage policy to protect her income. When a bad auto accident left her unable to work, Megan received total disability benefits for six months. Then she returned to work part-time. That's when she realized the value of the Enhanced Residual Rider she chose with her policy. Megan received 50 percent of her monthly benefit for her first 12 months of partial disability. She continues to receive benefits proportional to her ongoing loss of income.
Miguel's Story: Own Occupation Rider Allows for a Career Change
Orthopedic Surgeon, age 40
Miguel received a diagnosis of multiple sclerosis at age 40. His loss of coordination and weakness made it impossible for him to be a surgeon. Thankfully, his insurance representative had recommended an Own Occupation definition of total disability. That means Miguel can teach at a medical school and still receive his full monthly benefits.
Want to learn more about the types of claims we're paying for customers like yours? Check out this flyer.
* All claim examples are for illustrative purposes only and do not reflect actual claims paid.
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Jared's Story: Time for Family
Age: 36 - Occupation: trial attorney - Married, one child
How the Family Care Benefit provided the ability to care for a loved one
Jared's daughter was born with a heart defect. They visited multiple specialists to diagnose the condition and determine the appropriate treatment. Then his daughter underwent surgeries, hospital stays and months of follow-up appointments. Benefits from Jared’s Platinum Advantage policy helped make up for the income lost when Jared spent time away from work to attend physician appointments and to be with his daughter in the hospital and throughout her extended recovery — providing peace of mind during a trying time.
Supportive Office Equipment
Age: 42 - Occupation: accountant - Married, no children
Assistance on the road to recovery through a rehabilitation program
Jody's role as an accountant at a small firm requires a lot of computer work. After sustaining a serious back injury from a car accident, Jody was totally disabled under her Platinum Advantage policy. Jody’s doctor recommended she purchase assistive equipment to help her work comfortably at her desk without aggravating her condition. She was able to return to work full time after participating in a rehabilitation program in which expenses for a sitstand desk and other ergonomic accommodations were paid for under her Platinum Advantage policy. These modifications helped ensure she could return to work safely, without hindering her recovery.
David's Story: Starting a Medical Career
Age: 33 - Occupation: dermatology physician - Single, no children
Benefits that match career growth through the Benefit Increase Rider
David is completing his dermatology residency and just accepted an offer at a private practice. Before the end of his residency, he purchased a Platinum Advantage policy that included the Benefit Increase Rider, knowing his income will rise significantly after he starts his first post-residency job. The benefit also will allow his policy to grow with him as he progresses in his career and receives additional salary increases. David values the fact that his coverage going forward will match his developing career.
Jason's Story: Accidents Happen
Age: 35 • Occupation: orthopedic surgeon • Married, two children
Finding work in a new occupation with the Own Occupation Rider
Jason injured his right hand in an accident and was unable to return to his job as an orthopedic surgeon because he couldn't perform surgery. Due to his medical training, he was able to return to work as a family medicine physician. Jason was considered totally disabled in his regular occupation as an orthopedic surgeon — even though he earns an income from another occupation as a family medicine physician — because of the own occupation definition of total disability included in his Platinum Advantage policy. Because of this, he receives the policy's full basic monthly benefit, in addition to the income he receives in his new position.