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Benefits and Policy Features of Protector Platinum℠
You are considered totally disabled if due to your injury or sickness, you are unable to perform the primary duties of your own occupation and you are under the regular care of a physician appropriate for your injury or sickness. If you have limited your practice to a professionally recognized specialty in medicine or law, the specialty will be considered your own occupation.
Elimination Periods: 60, 90, 180, and 365days
Regardless of the number or length of any periods of recovery during your disability, for a benefit to be payable, the waiting period must be satisfied within the total number of consecutive days which equals two times the waiting period. For example if 90 days or less, or one half times the waiting period.
Benefit Periods: 2 years, 5 years, 10 years & to age 67
Partial Disability Benefit: You are partially disabled when you are not totally disabled and you meet the definitions of partial disability. There are two periods of partial disability:
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The Initial Period of partial disability refers to the first six months during which partial disability benefits are payable. During the period, you are partially disabled if:
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You are working in your own occupation or any other occupation, and
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Due to your injury or sickness, you have a
-loss of duties, or
-loss of time, or
-loss of income, and
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You are under the regular care of a physician
During the Initial Period, you are eligible for the policy’s full basic monthly benefit.
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After the Initial Period, you are considered in the Extended Period of partial disability, if:
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You are working in your own occupation or any other occupation, and
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Due to your injury or sickness, you have a loss of income, and you are under the regular care of a physician.
During this period of partial disability, the amount of disability benefit payable will depend on the percentage loss in earnings.
Family Care Benefit: Pays you a monthly benefit if you lose income while taking time away from work to care for a loved one who has a serious health condition. A loved one is a parent, child, spouse or domestic partner. The maximum benefit payable for all compassionate disability claimes under one policy is six times the basic monthly benefit.
Presumptive Total Disability: If you permanently lose your hearing, speech, sight or the use of two limbs, we will pay the total disability benefit, beginning with the day of the loss.
Continuous Disability: Recurrent periods of disability from the same cause or causes are considered one period of continuous disability if separated by your recovery of twelve months or less. No benefits are due or payable during any period of recovery.
Rehabilitation Benefit: If you join a vocational rehabilitation program, accpepted by you and The Standard, while you are receiving disability benefits, The Standard will pay the reasonable costs of the progam if the following criteria is met; you have accepted the terms and objectives of the program and The Standard has approved the program and determined if it meets the mutually agreed upon objectives.
Cosmetic and Transplant Surgery Benefit: We will consider you as disabled if, more than six months after the policy is effective, you become disabled due to cosmetic or transplant surgery.
Premium Waiver Benefit: We will waive all premiums due under the policy while benefits are payable. If the waiting period is greater than 90 days, we will waive all premiums due and payable after the 90th day up to the commencement date, as long as you remain continuously disabled. On and after the commencement date, benefits must be payable for premiums to be waived.
Guaranteed Renewable: Your coverage is guaranteed renewable to the termination date as long as the premium is paid on time. The policy ends at that time unless you ask that it be continued under the Renewal Option (see below). We cannot change any feature of your policy, except for the premium, until the termination date. The premium may be changed only after the policy is three years old and then only if the change applies to all policies with similar benefits insuring the same risk class.
Renewal Option: Renewable for Life: You may ask to continue the policy beyond the termination date under the Renewal Option if you are working at least 30 hours per week and are not disabled at the time of your request. Only the total disability benefit will be available. The benefit period is limited after age 67 and the premium may change. The policy will end after one period of disability under this option.
Optional Benefit Riders
Future Purchase Option Benefit Rider $10,000 Maximum Option Pool Amount: This rider allows benefit increases to be purchased on each policy anniversary subject only to financial underwriting requirements. The Option Pool Amount is the total amount of increase that can be purchased under the rider. On any policy anniversary, the owner may apply for up to a specified portion of the pool, according to attained age and subject to financial qualification, as follows:
18 to 44: Full Amount of Pool
45 to 55: One-third of Pool
Non-cancelable Policy Rider: This rider changes the policy and riders to non-cancelable and guaranteed renewable. As long as the premium is paid by the end of each grace period, we cannot change the policy or its premium until the termination date. This rider also changes the policy to provide that, if the maximum benefit period is longer than five years and you become eligible for the benefit for presumptive total disability, the total disability benefit will be payable for your lifetime.
Indexed Cost of Living Benefit Rider: The Indexed Cost of Living Benefit rider increases Disability Income payments at each anniversary of continuous Total or Partial Disability for which a benefit is payable. The monthly benefit can increase by up to 3 or 6 percent annually should you become disabled depending on which percentage you choose. The benefit will not decrease even if the CPI-U decreases. The owner also has the option, on recovery from disability, of purchasing the benefit increases provided by the rider during disability.
Catastrophic Disability Benefit Rider: Pays an additional monthly benefit if you receive a benefit for total disability and you are unable to perform two or more activities of daily living or have a severe cognitive impairment or have Presumptive Total Disability
Exclusions from Coverage: We will not pay benefits for the first 90 days of your disability due to pregnancy or childbirth, disability due to war, disability caused by your committing a felony or participating in a riot, or a disability cause by intentionally self-inflicted injury.
This is only a brief summary of the features and riders availalbe in the policy. This is not a contract. Any coverage issued is subject to terms of the policy. Some policy provisions may vary by state. The policy has exclusions, limitations and terms under which the policy may be continued in force or discontinued. Optional riders are subject to underwriting and reinsurace availability. Additional optional riders may increase premiums. Some riders may not be available in all states. A medical exam may be required when you apply for a policy. Policy and rider provisions, and their availability, may vary by state. This information is intended for insurance producers and not for the general public.