Standard is always looking for ways to streamline the application process for income protection insurance and has announced they won’t require applicants age 18-50 to submit labs or physical measurements for the following products and amounts:
- Platinum Advantage: up to $10,000 in monthly benefits
- Business Overhead Protector®: up to $25,000 in monthly benefits
- Business Equity ProtectorSM: up to $750,000 in aggregate benefit amounts (no requirements for all ages up to $250,000)
The new requirements apply to labs and exams scheduled on or after March 17, 2021. Applications dated on or before April 15, 2021 can still apply under the temporary COVID-19 guidelines, if more favorable to the applicant.
If applicant applies for both Business Overhead Protector and Platinum Advantage, please add the benefit amounts together and use the Platinum Advantage chart to determine medical underwriting requirements. Requirements for Business Equity Protector are not affected by other coverage applied for.
The benefit amount refers to base policy benefits with The Standard, either placed in force or applied for during the last six months. We may accept labs and physical measurements completed for other insurance applications for up to 12 months. However, our underwriters may request medical labs or physical measurements for any application.
Vendors for Paramedic Services
Approved paramedic services vendors are APPS-Portamedic and ExamOne. ExamOne processes the lab tests.