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The Standard Disability Insurance Review


ConsumersAdvocate.org Rating: 4.8 / 5 (Excellent)
8 Customer Comments & Reviews - see all comments
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The Standard Insurance Company is one of the largest financial services companies operating in the United States. It offers group and individual short- and long-term disability insurance plans with multiple benefit features and riders available on most plans. The company was founded in 1906 and is headquartered in Portland, Oregon.

How is The Standard rated?

Breakdown

5.0/5
Policies & Coverage
5.0/5
Flexibility
4.8/5
Financial Strength
4.8/5
Reputation & Customer Experience

Overall Rating: 4.8 / 5 (Excellent)

The Standard has been in business for 117 years. The company covers 6 million employees and has more than 25k group policies in force. The company offers a robust list of individual disability insurance plans with ample added features and rider options. Its website and brochures provide a great deal of information on its disability insurance policies, making it easy for consumers to find and compare information to other insurance providers. The Standard has solid ratings for financial stability and is A+ rated by the BBB.

The Standard Policies & Coverage

Policies & Coverage - 5 / 5

The Standard Life Insurance Company offers short and long-term group disability policies as well as three individual disability insurance plans that can complement the group plans. There are many policy features and riders available with most plans. Exclusions and limitations include pre-existing conditions as well as others that are clearly presented in the company's short and long-term policy brochures. Group policy coverage and features are determined by each individual employer; therefore, maximum benefits and periods listed here are for example purposes only.
Policy Types
Long-Term
Short-Term
Accident-Only
Individual
Group
Policy Features
Partial Disability
Non-Cancelable
Rehabilitation Benefit
Survivor Benefit
Presumptive Total Disability
Guaranteed Renewable
Waiver of Premium
Total Disability Income Benefit
Elimination Period
7, 14, 30, 60, or 90 days
STD Maximum Monthly Benefit
Up to $1,500
LTD Maximum Monthly Benefit
Up to $5,000
Short-Term Benefit Period
26 months
Long-Term Benefit Period
Up to age 67
Online Quote
Pre-Existing Conditions Exclusion
Exclusions & Limitations
Other exclusions include: self-inflicted injury, act of war, attempting to commit a felony or assault, and loss of professional license of certification To view additional exclusions and limitations, please go to the provided link.
Link to Source
https://www.standard.com/eforms/8844.pdf

The Standard Flexibility

Flexibility - 5 / 5

The Standard offers many policy riders which are available under most plans with a larger selection available under its individual income protection policies. For example, individual plans include own occupation and waiver of premium riders, whereas long-term group plan riders include critical illness and hospital confinement indemnity.

Available Policy Riders

Future Increase
Cost of Living Adjustment
Waiver of Premium
Residual Benefits
Own Occupation
Automatic Benefit Increase
Guaranteed Insurability
Return of Premium
Critical Illness
Hospital Confinement Indemnity
Supplemental Disability Income
Retroactive Injury
Accidental Medical Expense
Catastrophic Disability

The Standard Financial Strength

Financial Strength - 4.8 / 5

According to the company's website, the Standard has received an A rating or higher from A.M. Best Company since 1928, being only one of 17 insurance companies to do so for more than 75 years. It has an A+ rating from Standards & Poor's, and an A1 rating from Moody's.
Company Type
Underwriter
Year Founded
1906
Market Share 2017
0.24%
Total Premiums 2017
$2,476,555,669.00
Standard & Poor's Financial Rating
A+
Moody's Financial Rating
A1
AM Best Financial Rating
A

The Standard Reputation & Customer Experience

Reputation & Customer Experience - 4.8 / 5

The Standard Life Insurance Company is one of the largest providers of both group and individual disability insurance policies. It has been in business for 117 years and holds an A+ rating from BBB.
BBB Rating
A+
Date Collected
2023-01-18
NAIC Complaint Ratio 2017
0.0306

Company Profile

Full Name
The Standard Disability Insurance
Company Website
Headquarters
1100 SW Sixth Avenue, Portland, OR, 97204

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8 Customer Comments & Reviews

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Linda M
3/13/2024
I would advise everyone to never get disability insurance through this company. They are doing business with your money. The did a debt from my account for $50,000. I was living in a small RV with no heat and the front wall would crumble in your hand. They are not the only ones who rob the citizens Rental cars and Auto insurance does it also. I am going to find out if they are owned by Vanguard or Blackrock


dgw3019
10/13/2021
I was receiving disability checks from Standard consistently since having surgery and being in rehab therapy and chiropractic treatments weekly for quite some time and I'm still getting those treatments weekly. Out of the blue, on September 30, 2021, I received a letter in the mail from The Standard informing me that effective September 30, 2021 my case was closing, I would not be receiving any more disability checks and the contributions that was being made monthly towards my retirement was cut off. The very day I was expecting to receive my monthly benefit, was the same day they just cut off my income. No warning. No heads up. No indication that things were even moving in this direction.... Read More


lampstand1020
2/18/2021
I have been with this company for 15 years. Filed my fist claim in September. Was denied!! Just filed again because of covid and was told I can't file another claim. I am having my case reviewed, but most likely will have to get an attorney . VERY DISAPPOINTED. WOULD NOT RECOMMEND.


R
Roger
8/21/2020
Before you get this company for insurance please read all the fine print! The worst ran company I have ever seen! If you take money from them you are expected to pay it back, does not matter where the money comes from!


A
Al
8/9/2020
The Standard is the worse ever, if your sick they will stress you out even more and make you more sicker, stay away from this company if can, but I had no choice since my company picked them, but now change over to another company. It should not take them long to get you an answer and give you your disability when your are sick and they have all the doctor papers they need, but insist it not enough, crazy.


amybowe41
7/7/2020
Absolutely the worst customer service I have experienced. I have been trying to re-instate my STD Claim from April of this year! And, it is now July. Still, no resolve. I have given up several times on trying to get a straight answer from any "customer service" representative. The only reason I'm dealing with The Standard is due to my Employer is insured through The Standard. I do NOT recommend this company!


P
Patty
7/17/2019
While the people I dealt with at The Standard were polite and professional, being turned down for a claim for short-term disability was upsetting. Their reasoning was petty; I had evidence to back up my claim and discussed this with an attorney who sues The Standard for a living. Once I started researching The Standard, I began to see that they make it their business to deny claims. I bought this insurance as a member of the California Teachers Association, and I am so disappointed with how my claim was handled.


C
Chastity
5/26/2018
I brought a 30 day elimination period but just found out it’s really 60 days you have to wait. False advertisement. Then keep sending me the same paperwork over and over to fill out. This company full of it . I payed my premium on time and everything now they want to play games. After I will be going with a better company. State Farm is the worst.



Our Partner
  • Benefit periods from as little as 2 years or all the way to retirement age
  • Family care benefit provides coverage for up to a year if policyholder has to take off work to care for a child, spouse, or parent
  • 10% discount to business owners and an additional 10% to preferred occupational classes. 
  • Offers the option of Full Coverage for Mental/Nervous disabilities or a 10% discount for a 2 year limitation. 
  • Rated A (Excellent) by A.M. Best for financial strength