Groups with five to nine key executives have a new executive benefits package to consider. Standard’s Executive Benefits policies are individual disability policies that supplement group long-term disability (LTD) plans. The newest Executive Benefits policies are a revision of the previous offerings that were only available to groups with 10 or more key employees, according a news release.
Like many LTD plans, Standard’s newest issue is i ntended to ensure key employees receive sufficient income protection in the event a prolonged disability keeps them out of the office. The policies offer guaranteed standard issue and a flexible and customized plan design, according to the company.
Also being released is an Executive Benefits Package Plan available to employers with 25 to 1,000 workers who purchase both Executive Benefits and group LTD policy from Standard. With this plan, employers may select from eight features, which include an Employee Assistance Plan that helps employees balance the demands of work and life and a Lifetime Security Benefit that provides lifetime income to severely disabled employees by extending LTD benefits beyond the policy’s maximum benefit period – to name a few of the offerings.
More information is available at www.stancorpfinancial.com .