NU Online News Service, May 7, 2003, 4:27 p.m. EDT – Standard Insurance Company, a unit of StanCorp Financial Group Inc., Portland, Ore., has introduced Executive Benefits insurance policies for employers with as few as five key employees.
Most other executive benefits policies are available only for groups with 10 or more key employees, Standard says.
The policies are individual disability policies that supplement group long-term disability plans. They offer richer, more flexible benefits than standard group LTD coverage, Standard says.
Standard has also announced an Executive Benefits Package Plan for employers with 25 to 1,000 lives that buy executive benefits policies along with regular group LTD benefits from Standard.
Options available with the package plan include an employee assistance plan and a lifetime security benefit for the most severely disabled employees.