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Standard Updates Disability Strategy

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A unit of StanCorp Financial Group Inc. will be replacing its Executive Benefits disability insurance product with use of the Protector Plus Guarantee Standard Issue policy.

Standard Insurance Company, Portland, Ore., will be making the Protector Plus GSI product available for coordination with the company’s long-term disability coverage starting Jan. 1, 2007, according to Standard.

Standard recently introduced the policy as an individual disability product and also has started distributing the product in the “multilife” market, or executive worksite sales market, through master general agents.

The Protector Plus product is attractively priced for a wider range of occupation classes than the Executive Benefits product is, allows brokers to use the same policy for single-case sales, and provides more flexibility for voluntary cases, Standard says.