Standard Insurance Company (“The Standard”), Portland, a subsidiary of StanCorp Financial Group, Inc., has introduced comprehensive and customizable insurance solutions that can help any business with fewer than 500 employees.

“Small businesses face unique challenges. They work hard to find a balance between containing costs and offering competitive benefits packages,” said Jane E. Hood, vice president of Employee Benefits Marketing. “The Standard makes disability, life, and dental coverage, and retirement plans easy to administer and easy to fit within any budget.”

Small businesses, businesses with 20-99 employees, are particularly vulnerable to the risks associated with disability*:

-one-half do not offer any form of disability insurance
-one-third do not offer defined contribution retirement plans or dental coverage
-one-fourth do not offer group life insurance
* Shawn Flynn, “Group Insurance Market Potential,” LIMRA International Inc., 2006

The risks facing the small-business workforce are real. Every 30 seconds someone files for bankruptcy in the aftermath of a serious medical problem (Elizabeth Warren, “Sick and Broke,” The Washington Post, Feb. 9, 2005).

To meet these needs, The Standard now provides a range of small business products:

Basic LTD, a simple, low cost version of our long-term disability coverage, is designed for employers with groups of employees at higher risk for disability, such as retail workers or those who perform physically demanding jobs.

Disability Employee Choice is designed for growing companies with a more diverse workforce and enables employees to select coverage that meets their individual needs.
Preferred Segment offers LTD protection tailored to the needs of highly compensated professionals.

The Standard Select helps employers with as few as two employees provide valuable group insurance coverage.

Core Benefits Solution is a concept, rather than a product. It is designed for employers who have never offered insurance to their employees before. The plan addresses different options for small employers to provide effective and affordable employee benefits such as, life, disability and dental insurance and retirement plans.