Standard Security Life
Read this Standard Security Life company review to learn more about the company’s primary sales methods and lines of insurance. Standard Security Life was established in 1958 and currently specializes in life annuity, health insurance, and special business insurance, which includes disability, AD&D insurance for athletes, and group plans for volunteer firemen.
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Written by
Jeffrey Johnson
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UPDATED: Dec 16, 2020
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2006 Assets (parent): $1.3 billion2006 Premiums (\”) : $495 million
Company Overview:
Company History: Founded 1958 in New York.
Principle Sales Methods: Independent agents and brokers
Life Annuity Business: Standard Security Life sells Group Term Life insurance plans.
Health Business: Standard Security Life sells Small Group Major Medical, Short-Term, Dental, Vision, and Limited-Medical plans to businesses.
Special Business: Standard Security Life sells Disability, Accident Medical, Accidental Death, and AD&D insurance to athletes, executives, and entertainers; plus Group Life plans for Volunteer Fire Fighters,
Hard to contact, long wait. After about a month of waiting for my bill from my thumb surgery to fix my lacerated tendon I got a statement saying I was responsible for most of the bill. They covered $1000 that’s it! I was left with the remaining $5000. This “INSURANCE” is no insurance that you will be financially covered. Might as well risk no insurance at all. This has also made me realize that privatized healthcare doesn’t work for the consumer.
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Contacting this company: It is nearly impossible to get the same location and speak to someone that has the info you need. Last year they either did not cover ambulance service or I was told wrong.
When I renewed for this year; Had to show proof of my canceled check of my premium. Was advised of policy cancellation without any prior notification. They had cashed it but showed no payment. Now I come to find out that this outfit has a schedule of payment of $1000 maximum for almost all hospital procedures (operations) plus a little for Dr. and other, except for transplants. Figures to les than 1/3 of cost.
This is an insurance company that should rather be in the lower end of the discount card category.
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I’m not so sure this company even exists. Cannot be reached by telephone. Their disability division gave me AIG’s number when I asked to be transfered to the Life Ins Dept.
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I have filed no claims, after renewing for the secnod six mo period they debited my bank card, then I got an e-mail saying my policy was cancelled. no explanation at all
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This is a rip off!!!!!!!!!!!!!!!!!!!!!!!!!!
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Cancelled my policy in violation of Florida Statute 636.028. Made complaints with the BBB, FTC and the Florida insurance commision. There’s more than one way to get satisification.
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Claim has been held up for over a month for Short Term Disability thru my employer. I cannot pay any of my bills mortgage etc. due to the company not getting the correct dates of disability from my dr and employer. Customer Service AWFUL — dealing with children. The underwriters are crap as well.
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be sure to check carefully any payout from the standard to you
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Investing insurance in this company is a waste of time. The information they provide is vague and changes when it’s time to file a claim. Their customer service is horrible. It takes them over 30 days to respond to a short term disability claim.
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