STANDARD LIFE INSURANCE - EOIEvidence of Insurability (EOI) is documented proof of good health. An applicant begins the EOI/medical underwriting process by submitting a Medical History Statement (MHS), which along with other information obtained during the underwriting evaluation is used to make the underwriting determination.Click on the links below for EOI instructions, FAQs and the Medical History Statement.
STANDARD INSURANCE PREMIUM WAIVER
Your group insurance provides a benefit which waives further payment for Group Life Insurance premiums for eligible members who are unable to work at all reasonable occupations for which they are suited by reason of education, training and experience. If you are eligible for this benefit, your Group Life Insurance will remain in force without payment of premiums for the remainder of your inability to work, or the maximum benefit period specified in the Group Policy or your Employer’s Statement of Coverage.
Click on the link below to view and complete the Waiver of Premium Claim Packet.
Standard Insurance Premium Waiver Packet
STANDARD INSURANCE CONVERSION/PORTABILITYIf your employment terminates and you wish to continue your life insurance coverage, you may choose either to port your coverage or convert your coverage to an individual policy. Portability allows eligible insured employees to "port" (or buy) Group Life insurance when they are losing coverage because their employment is being voluntarily or involuntary terminated. Conversion allows eligible insured employees to convert some or all of their Group Life coverage to an individual Whole Life insurance policy when their coverage is reduced or terminated for any reason other than non-payment of premiums.A "Request for Group Life Conversion Packet" or "Group Life Portability Packet" must be completed and submitted to Standard within 31 days from the termination of employment or August 31st if you complete your contract.Standard Insurance Group Life Portability FAQs
STANDARD INSURANCE ACCELERATED BENEFIT
The Accelerated Benefit allows you to receive an early payout of a portion of your Group Life insurance benefit if you are diagnosed with a terminal illness and meet eligibility requirements. As an advance payment, the Accelerated Benefit provides you with a financial resource to use as you desire - whether to cover medical expenses or to maintain your quality of life.You may receive up to 75 percent of your Group Life insurance benefit, but not more than $500,000. The minimum benefit available is 10 percent of your Group Life insurance benefit or $5,000, whichever is greater.To qualify for the Accelerated Benefit you must provide satisfactory proof of a qualifying medical condition that is reasonably expected to result in death within 12 months. After the payment of the Accelerated Benefit, the remaining Group Life insurance benefit is subject to an interest charge. However, even if interest charges on the accelerated amount exhaust the remaining benefit over time, The Standard will pay a minimum of 10 percent of the Group Life insurance benefit to the beneficiary. Additional qualifications may apply.For more information about the Accelerated Benefit, contact Standard Insurance at 1-800-348-3226