The Standard Disability Insurance: Reviews and Complaint Analysis

Disability insurance provides crucial financial protection if an injury or illness prevents you from working. However, not all disability policies are created equal. This article will examine customer reviews and complaints for The Standard disability insurance to help you evaluate if their coverage is right for your needs.

Overview of The Standard Disability Insurance

The Standard is a leading provider of employer-based group disability insurance as well as individual disability policies. Some key facts:

• Founded in 1906, based in Portland, Oregon
• Rated A+ (Superior) by AM Best for financial strength
• Offers short term disability, long term disability, and business overhead expense insurance
• Sells through independent agents and brokers
• Has over 24,000 business clients nationwide

The Standard Disability Insurance Reviews

Here is an analysis of The Standard’s customer reviews from two key consumer complaint sites – BBB and Consumer Affairs:

BBB Reviews

On the Better Business Bureau site, The Standard currently has:

• 1.25 out of 5 stars based on 134 reviews
• 44% give 1-star, 31% give 2-stars
• 193 total complaints closed in last 3 years

Positive comments cite good customer service and claims processing. Negative reviews complain of claim denials, delays, lack of communication, and difficulty contacting the company.

ConsumerAffairs Reviews

• 1.2 out of 5 stars based on 134 reviews
• 51% give 1-star, 44% give 2-stars

Many negative reviews cite denial of claims, delays in payments, poor communication, and a difficult claims process. Positive comments are very limited.

Analysis of Complaints Against The Standard

Digging deeper into the 193 BBB complaints over the past 3 years, here is an analysis of the major issues customers have experienced:

• 51 Complaints – Problems with service/product (such as claim denials)
• 9 Complaints – Billing/collection disputes
• 5 Complaints – Advertising/sales issues
• 5 Complaints – Problems with guarantees/warranties

Key themes of the complaints include:

• Denial of disability claims without clear explanation
• Significant delays in claims processing and payments
• Lack of communication and follow up from The Standard
• Difficulty contacting company and speaking with representatives
• Needed paperwork requested multiple times after submission
• Changes in requirements during claims process

How The Standard Responded to Complaints

When reviewing the full details of complaints on BBB, here are some observations on how The Standard responded:

• The Standard directly addressed the issues raised in most complaints
• However, in many cases the customer still did not accept The Standard’s response
• Some complaints cite failure to provide specifics on resolution timeline
• A few responses lacked empathy for the customer’s situation

While The Standard directly engages with complaints, there still seems to be a disconnect between their responses and satisfactory resolution from the customer’s perspective.

Key Pros and Cons of The Standard Disability Insurance

Pros:

• Strong financial rating indicating ability to pay claims
• Long history in business since 1906
• Offers group and individual disability policies
• Sold through independent agents, brokers, advisors

Cons:

• Low ratings and many complaints on claims processes
• Communication and customer service challenges
• Denials and delays frequently cited
• Difficulty getting status updates and reaching representatives

Is The Standard Disability Insurance Recommended?

The Standard disability insurance offers some advantages such as financial stability, longevity, and distribution through independent channels. However, the high volume of complaints related to claims issues and customer service make it difficult to recommend The Standard at this time compared to other top disability insurance providers with better reviews and claims satisfaction results.

Policyholders praise companies like Guardian, Principal, Ameritas, and Unum for higher quality customer experiences. Disability insurance is meant to provide peace of mind if injuries or illness strike. But The Standard’s reviews and complaints suggest the process of filing and receiving benefits may be more difficult than ideal.

Top Tips for Choosing Disability Insurance

If you are considering disability insurance, keep these tips in mind:

• Compare policy definitions. Look for “own occupation” coverage until retirement age.

• Check financial ratings of insurer to ensure ability to pay claims.

• Know waiting periods before benefits begin such as 90 or 180 days.

• Calculate the benefit amount you need to protect income. Aim for 60-70% of income.

• Read reviews of the disability insurance company’s claims processes and customer service.

• Consider added features like cost of living increases and partial disability benefits.

• Check exclusions for pre-existing conditions and limitations.

Doing your homework when choosing disability insurance can help ensure you receive high-quality service if you ever need to file a claim. Partnering with a reputable insurer will provide protection when you need it most.

Alternatives to The Standard Disability Insurance

Some top disability insurance providers to consider beyond The Standard include:

• Guardian: 4.5 out of 5 stars on ConsumerAffairs. Own occupation coverage. Fast claims processes cited in reviews.

• Ameritas: 4.3 out of 5 stars on BBB. Customizable plans and strong customer service ratings.

• Principal Financial: A+ rating with BBB. Range of individual and workplace disability policies.

• MassMutual: A++ financial strength rating from AM Best. Own occupation plans until age 67 available.

• Unum: 90% claims satisfaction rate. Mixed customer reviews but strong financials.

• Mutual of Omaha: Forbes #1 disability insurer pick in 2022. Own occupation and residual benefits.

Taking time to research options, read reviews, and compare disability insurers can help you make the best choice to protect your income and financial future in case of illness or injury.