Modest Price Hikes Likely for Disability.The market is pricing disability products in a rational manner, which will lead to mid-single-digit price increases this year, said Ronald E. Timpe, chairman, president and chief executive officer of StanCorp Financial Group Inc. The way to succeed in the disability insurance business is to write a good contract that limits the tax-free tax-free adj. Not subject to taxation; tax-exempt. tax-free Adjective not needing to have tax paid on it: a tax-free lump sum Adj. 1. benefits that policyholders receive to encourage them to return to work as soon as possible. Then spread the risk broadly by geographic region, occupations and salary ranges, Timpe said. StanCorp Financial is a holding company for Standard Insurance Co. and Standard life Insurance Company of New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of . StanCorp, which came into being as the result of a demutualization Demutualization The process of changing corporate structure from a mutual fund company to some other form, such as a limited liability or corporation. Notes: This means mutual/life insurance companies convert from policyholder companies to stock companies. in April 1999, sold its individual life business last year and made an acquisition from Minnesota Life The Minnesota Life Insurance Company was founded in St. Paul, Minnesota in 1880 as a mutual insurance company. It was originally organized as a mutual because a general distrust of stockholder-owned businesses prevailed at that time and there was a shortage of people willing to buy that quadrupled its individual disability business. A new disability concept under consideration by StanCorp is appealing, because it could improve customer retention--a problem inherent in disability products. "People reach 65, and they are out the door," Timpe said. "I like the idea of writing a lifetime disability product that transitions to long-term care long-term care (LTC), n the provision of medical, social, and personal care services on a recurring or continuing basis to persons with chronic physical or mental disorders. ." StanCorp Financial Group A.M. Best #: 70398 Rating: Subsidiaries rated A Headquarters: Portland Portland, town, England Portland, town (1991 pop. 12,945), Dorset, S England. It is on the Isle of Portland, a small rocky peninsula. Portland stone has been used in St. Paul's Cathedral and other important London buildings. Lobsters and crabs are harvested. , Ore. Lines of Business: Group and individual disability insurance, 401(k) plans, group life and dental |
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