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Standard Security Life provides disability income, accident medical, accidental death, and AD&D insurance to athletes, executives and entertainers. The coverage is written for a limited term (5 years or less) and is optionally renewable by Standard Security Life. The principal benefits offered are permanent total disability (“PTD”) and temporary total disability (“TTD”). PTD is paid as a lump sum if caused by either an injury or sickness that is career ending. TTD covers the same risks as PTD, but is paid in installments until the maximum limit of insurance is exhausted or the insured no longer has total disability. For these special risks, Standard Security Life has delegated marketing and underwriting authority to a specialized Managing General Underwriter that has concentrated its efforts in these markets for more than 15 years. Currently, Standard Security Life insures no more than half of the value of the individual’s contract, thereby sharing the risk with another party (e.g., a team or a corporate sponsor). |
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Copyright (c) 2000.
Standard Security Life Insurance Company of New York.
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