Note: Not all riders are available with all carriers; riders will depend on state availability and product as well as age and occupational classification. Rider name will depend on each individual carrier. Refer to all carriers product guide for complete guidelines.
Automatic Benefit Increase Rider
The Automatic Benefit Increase Rider increases the base policy monthly benefit by percentage of the original benefit each year for any benefits payable starting after the first year continuous benefits have been paid. Payments will continue to increase each year while payable under the policy until the base policy monthly benefit payment has increased to twice the original amount.
Benefit Increase Rider
The Benefit Increase Rider provides the option to purchase additional coverage, without providing medical information, every three years after the policy effective date. This rider is included with eligible policies for no additional premium, but any increase in the benefit will increase the premium.
You may be eligible for a benefit increase if on the date of application:
- If you are not disabled, and no benefits are payable under the policy and you are not receiving disability benefits from any other source, and the policy is not in suspension due to active military service.
Each benefit increase will be effective on its option date. The premium is based on your age at time of increase.
Catastrophic Disability Benefit Rider
The Catastrophic Disability Benefit Rider provides a monthly benefit if the insured is catastrophically disabled and all base policy monthly benefits have been paid. Benefits will continue and premiums will be waived while the insured is catastrophically disabled or to the end of the catastrophic benefit period, whichever is first.
Catastrophic disability means the insured is totally disabled past the policy benefit period and:
- needs the presence of another person within arm’s reach and/or physical assistance to perform two or more activities of daily living (ADLs), or is cognitively impaired;
- does not work in any job for wage or profit; and
- has had a physician certify their continued total disability and prescribe a plan of treatment.
Critical Illness Benefit Rider
The Critical Illness Benefit Rider will pay a benefit if the insured receives a first-ever diagnosis or has a procedure for one of the specified critical illnesses shown in the following chart. The amount payable is the percentage of the benefit amount found in the chart multiplied by the benefit amount.
Indexed Cost of Living Benefit Rider
Just as inflation affects the value of your savings, the value of your disability income coverage can be eroded by inflation. With the Indexed Cost of Living Benefit Rider, while you are disabled the monthly benefit payment can increase annually. Increases will be based on changes in the Consumer Price Index. You may choose a maximum increase of 3% or 6%
The Non-Cancelable Rider makes the insured’s policy and any attached riders non-cancelable. Non-cancelable means that the carrier cannot change the policy or riders by increasing the premiums or canceling prior to termination.
The Own Occupation Rider extends the own occupation period for the total disability definition from two years to the period selected.
With the Own Occupation Rider, you will be considered totally disabled if, due to injury or sickness, you are unable to perform the substantial and material duties of your regular occupation, even though you may be working in another gainful occupation. With some carriers: Physicians and dentists working in an ABMS, AOABOS or ADA recognized specialty will have that specialty deemed their regular occupation. Attorneys performing the usual and customary duties of a trial attorney will have trial attorney deemed their regular occupation. You must be receiving regular medical care from one or more physicians appropriate for your injury or sickness.
Residual Disability Benefit Rider
The Residual Disability Benefit Rider will pay a monthly benefit if the insured is residually disabled and the elimination period has been satisfied by any continuous period of total and/or residual disability. Renewal premiums will also be waived on the first premium due date after the insured has been residually disabled for the elimination period or 90 days, whichever is shorter. Any premiums paid during this period, which became due after total disability started, will be refunded.
Benefits will continue and premiums will be waived while the insured is residually disabled or to the end of the residual benefit period, whichever is first. For the first six months of residual disability, depending on the insurance carrier the benefits will pay the greater of the residual disability monthly benefit and any partial disability monthly benefit payable but not both. The residual disability monthly benefit is calculated as follows:
[(prior monthly income – current monthly income) / prior monthly income] x base policy monthly benefit
Loss of prior monthly Income greater than 80% will be considered 100% loss.
Retroactive Injury Benefit Rider
The Retroactive Injury Benefit Rider will pay a benefit if an injury causes the insured to become totally disabled within 30 days of the injury, and the insured remains continuously totally disabled until the end of the elimination period. The benefit, payable as a lump sum after the elimination period, is equal to the base policy monthly benefit times the number of months in the elimination period.
Return of Premium Benefit Rider
The Return of Premium Benefit Rider will pay a returned premium benefit upon policy cancellation, policy lapse, the insured’s death or the insured’s attained age 65, or age 67 for to-age-67 benefit period. The benefit is calculated as follows:
- Add together all policy and rider premiums paid or waived.
- Multiply this premium amount by the appropriate percentage based on completed policy year. (See following Return of Premium Benefit Schedule.)
- Subtract from this amount all policy and rider benefits paid.
Under the Student Loan Rider, The Standard will reimburse you for the amount of monthly student loan expense you pay under a student loan agreement, subject to the maximum monthly student loan benefit, if:
- You become totally disabled while this rider is in force, and benefits for total disability are payable, and the student loan benefit waiting period has been met, and you incur a monthly student loan expense prior to the student loan benefit expiration date, and you provide the required proof of loss for each month.
The student loan benefit is limited and will depend on min. and max. amounts as well as occupational classification.
Supplemental Disability Income Rider
The Supplemental Disability Income Rider (SDIR) will pay a monthly benefit less any social insurance benefits received, offset dollar for dollar, if the insured is totally disabled and the elimination period has been satisfied. Benefits will be paid until the insured is no longer totally disabled or to the end of the maximum benefit period, whichever is first. No benefits will be paid if social insurance benefits exceed the SDIR monthly benefit amount.
If the insured receives a lump-sum payment of social insurance benefits, Assurity will treat the lump sum as if it were paid over several months. The lump sum will be divided by the SDIR monthly benefit less monthly social insurance benefits received. The result will be the number of months future rider benefits will not be paid. If the monthly social insurance benefit received exceeds the SDIR monthly benefit, Assurity will not seek refund of past SDIR benefits received before the lump-sum payment.
Social Insurance Benefits:
- Social Security Disability Benefit – Includes any primary or family disability benefits the insured is eligible for under the U.S. Social Security Act or similar law of any other country. Payments under the retirement provisions of the Social Security Act are treated as a Social Security disability benefit.
- Workers’ Compensation – Includes benefits the insured is eligible for under any Worker’s Compensation Act or Occupational Disease Law. Included are all state and U.S. territory laws, as well as laws of other countries.
- Government Retirement and Disability Fund Benefit – Includes any disability benefits the insured is eligible for (including dependent benefits) under any federal, state, county, city or other governmental subdivision retirement and/or disability fund. Retirement benefits from such funds are treated as disability benefits.
•Railroad Retirement Disability Income – Includes any primary or family disability benefits the insured is eligible for under the Railroad Retirement Act. Retirement option benefits under the act are treated as disability benefits.