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January 05, 2017 at 09:05 AM
Standard Insurance Company says it’s including strong mental disorder and substance abuse benefits as part of the base policy for a new individual disability insurance product.
The base policy of the new Platinum Advantage policy also offers a family care benefit, for policyholders who need to take time away from work to care for a spouse, parent or child with a serious health problem, according to Standard.
Standard says it believes the family care benefit may appeal to consumers “in the sandwich generation,” or those who have both children at home and parents who need hands-on care.
Related: Brokers look to combat ACA with disability sales
Standard is a unit of Portland, Oregon-based StanCorp Financial Group, Inc.
Meiji Yasuda Life Insurance Co., a Tokyo-based company, acquired StanCorp in March 2016.
