The Standard Life Insurance Review

Dec 23, 2023 By Susan Kelly

When it was first established, Oregon Life Insurance Company concentrated on selling life insurance for workers working in the highly dangerous log industry. As the company grew larger and became more geographically diverse during its beginnings, it switched its name to Standard Insurance Company in 1946, a move that its management hoped to allow growth in different regions.

Following the name change, "The Standard" became The Standard's brand name for marketing. Shortly after adopting this new title, the Standard began offering insurance plans for groups to companies or organizations and local government bodies. Since then, group insurance has been the main product offered by the Standard. While the Standard remains closely linked to its hometown of Portland, it is now doing national business as part of holding the company StanCorp Financial Co., Inc.

Customer Service

It is not possible to get quotes for the policies of The Standard on the internet. Since the company offers group life insurance, you will need to contact the HR department at your workplace to get policy details. If you're looking for general information and need to talk to someone, contact The Standard by calling (800) 628-8600. You can send a secure email to customer support via the company's website. The Standard has an online portal available to existing customers of the policy. The portal is available to access your policy information and pay your bill.

Complaint Index

The Standard has had lower complaints than what is typical for a business of its size and its share of the market for insurance. The National Association of Insurance Commissioners (NAIC) provides ratios of complaints to quantify the number of complaints received by customers compared to the size of the company. In 2020, The Standard's complaint ratio in its life group insurance division was 0.32, far lower than the industry norm of 1.0.

Third-Party Ratings

AM Best, a credit rating agency that reviews insurance companies, provides its opinion on the financial security of companies via the financial Strength Ratings. In 2020, AM Best affirmed The Standard's A (Excellent) rating, acknowledging The Standard's solid operational and business performance. Because The Standard only sells group life insurance policies, it wasn't listed in 2020's J.D. Power U.S. Individual Life Insurance Study. The study looked at 24 leading insurers and then ranked the top based on their policies, pricing, and customer service.

Cancellation Policy

In general, the coverage with The Standard lasts for the time you are employed. If you decide to quit your employer, you're given the option of either converting your coverage to individual coverage or canceling your coverage. If you decide to terminate your insurance, you will not get a reimbursement of any fees or premiums you have paid. But, you won't need to worry about having to pay penalties or surrender charges. Speak to your human resource department if you'd like to change your policy.


If you have a group life insurance policy, you will usually be included in your benefits bundle, including the bulk of the cost being paid from your workplace. The amount you pay is usually pennies per dollar. If you decide to take out optional life insurance and wish to add it to your existing policy, you'll need to pay the cost on your own. The Standard does not make public its rates or pricing; therefore, you'll need to speak with your HR representative to discuss the options available. Like most businesses, The Standard requires you to choose "male" or "female" when you are applying for insurance. Being nonbinary does not mean that you're disqualified from applying for life insurance. However, it is important to be aware that most insurance companies haven't changed their underwriting practices to reflect an evolving understanding of gender differences.


Since The Standard's policies are available only to employees of participating companies, we compared it with State Farm, one of our choices for the top life insurance companies for 2022. In contrast to The Standard, State Farm offers various individual policies for life insurance. You can buy whole, term, or universal life insurance plans and tailor your coverage by choosing from many riders. State Farm even has an instant term option. This policy could receive up to $50,000 of insurance without undergoing a medical examination and applying for it completely online. State Farm stands out from The Standard due to its customer service. State Farm offers a dependable online platform; however, you can also speak to a State farm insurance representative in person to get advice tailored to your needs.

Accidental Death and Dismemberment

If an accident-related death and dismemberment policy is included in your insurance, the beneficiary or you are eligible for an additional benefit if you're killed during an incident. Additionally, you can be eligible for a payout if you lose a limb or vision in an accident.

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