Banker Benefits
The CBA has joined forces with the Standard Insurance Company to offer Life and Disability Insurance coverage to CBA members. By leveraging the collective size of our membership, CBA is able to provide competitively priced and valuable services to member banks. The Standard, founded in Portland, Oregon more than 100 years ago, is a nationally recognized provider of life, group disability and individual disability insurance, providing insurance to more than 28,500 groups covering approximately 7.6 million employees nationwide. The company has a national reputation for quality products, superior service and industry expertise.
The Standard’s Life Insurance plan offers a $500,000 maximum benefit for Basic Life and also features an expanded Accidental Death & Dismemberment option. The Standard’s Disability Insurance plan offers a $15,000 maximum benefit for Long Term Disability, subject to satisfying the benefit waiting period, deductible income and other eligibility requirements.
Key Features of the Standard’s Term Life Insurance Plan
- $500,000 maximum benefit for Basic Life; coverage amounts up to $300,000 may be portable
- $500,000 maximum benefit for Additional Life, with a $250,000 guarantee issue level (no medical underwriting is necessary)
- Family benefits package
- Expanded Accidental Death & Dismemberment coverage
- Frontier MEDEX travel insurance
Key Features of the Standard’s Disability Insurance Plan
- $15,000 maximum monthly benefit for Long Term Disability, subject to benefit waiting period, deductible income and other eligibility requirements
- $25,000 benefit for reasonable work accommodation expenses, subject to prior approval from the Standard
Employers who offer their employees more robust benefits tend to see higher rates of productivity, retention and job satisfaction among their employees, so we strongly encourage each bank to participate. For more plan details, please review the Plan Selection Guide.
The Standard is well-equipped to provide our members with a smooth roll-out of this new coverage. A dedicated service team will assist participating banks with enrollment, implementation and ongoing plan administration, and they will be available to answer any questions that come up. Additionally, CBA strategic partner, USI BenefitPartners, is assisting CBA/Banker Benefits as we launch this new product offering. For more detailed plan information please contact Banker Benefits at 916/441-7377.
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