Standard’s new Platinum Advantage individual disability product has all the quality features of the previous product with more flexibility and some added features that will appeal to millenials.
Some of the highlights include:
- A true Own Occupation Rider with specialty language for physicians, dentists and attorneys
- A choice of Enhanced, Basic or Short-term Residual (Enhanced and Basic have a Recovery Benefit)
- A Student Loan Rider
- A Benefit Increase Rider (a purchase option exercisable every three years similar to Principal’s Benefit Update)
- Full mental nervous coverage for most occupations, including most (but not all) physicians
- A discount for Residents (among other discounts)
Millenieals will appreciate the new student loan rider that will insure their student loans are paid in the event of a disabling illness or sickness if they become too sick or injured to work for a period of time.
The Family Care Benefit, which allows families to take care of a loved one while receiving benefits to help offset lost income, is still available with the Protector Advantage. It gives the insured some flexibility when he or she needs to care for a loved one.
Protector Advantage also provides more competitive pricing for most physician specialties and other professional occupation classes. Resident discounts are available for many resident groups. And multi-life, and multi-product discounts make the Protector Advantage more attractive to business owners, as well.
Standard’s new Protector Advantage offers quality, flexibility, and competitive pricing, which opens the door for more disability income sales in all occupations for brokers.