Is The Standard a Good Insurance Company?
Over 100 Carriers to Quote From. Here are a few of them!
Is The Standard a good insurance company? At Diversified Insurance Brokers, we partner with over 100 top-rated carriers to help retirees, pre-retirees, and families protect their savings, generate lifetime income, and plan confidently for the future. The Standard, officially known as Standard Insurance Company, has been serving customers since 1906. Known for financial strength, dependable service, and a wide range of insurance and retirement products, The Standard is a respected name in the industry—particularly in the areas of disability insurance, group benefits, and annuities.
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About The Standard
Based in Portland, Oregon, The Standard is part of StanCorp Financial Group and has built a reputation for reliability and customer service. The company offers a range of retirement, insurance, and employee benefit products, serving both individuals and businesses. With a strong financial foundation and a history of delivering on promises, The Standard has earned the trust of policyholders nationwide.
Popular Products from The Standard
- Fixed and Fixed Indexed Annuities: Designed for predictable retirement income and principal protection.
- Multi-Year Guaranteed Annuities (MYGAs): Secure fixed interest rates for a guaranteed term.
- Group Benefits: Including life, disability, dental, and vision coverage for employees.
- Individual Disability Insurance: Income protection for professionals and self-employed individuals.
Who The Standard Is a Good Fit For
- Retirees looking for steady income and protection from market losses
- Professionals seeking comprehensive disability insurance
- Employers offering competitive benefits packages
- Conservative investors prioritizing safety and stability
Pros of The Standard
- Over a century of proven financial strength
- Diverse product offerings for individuals and businesses
- Strong focus on income protection and retirement planning
- Reputation for excellent customer service
Considerations
- Some products are available only through employers
- Annuity product lineup is smaller than some larger carriers
Our Take
At Diversified Insurance Brokers, we view The Standard as a stable and trustworthy choice for those seeking income protection, competitive annuities, and reliable customer service. Whether you are planning for retirement or looking to safeguard your income, The Standard offers dependable options backed by more than 100 years of financial stability.
FAQs: Is The Standard a Good Insurance Company?
What are The Standard’s financial strength ratings?
The Standard holds an A (Excellent) Financial Strength Rating from AM Best, an A+ from S&P, and an A1 from Moody’s. Its outlook is stable.
How long has The Standard been in business, and who owns it?
Founded in 1906 (originally as Oregon Life Insurance Company), The Standard operates under StanCorp Financial and has been part of Meiji Yasuda Life Insurance Company since 2016.
What types of products does The Standard offer?
The Standard provides group and individual insurance products including disability (short- and long-term), life, accident & health, fixed annuities (including MYGAs), dental & vision, plus retirement plan services.
How is The Standard rated for customer service and complaints?
The Standard is BBB-accredited with an A+ rating. It has several dozen complaints over the past three years across locations, and its NAIC complaint index for individual annuities is below average, indicating fewer complaints than expected for its size.
What are The Standard’s strengths?
Strengths include a long, consistent track record of strong ratings, financial stability under Meiji Yasuda, broad product offerings across group and individual lines, and generally low complaint indices in many segments.
What are some drawbacks or things to watch out for?
Some customers note responsiveness and claims-processing delays. Product features can vary by state, and certain product types (such as some variable annuities) may not be available.
