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).