Providing insurance and related financial services is standard operating procedure at StanCorp Financial Group. Through Standard Insurance (aka The Standard) and other divisions, the company offers a range of financial products nationwide, including group and individual disability coverage, life and accident insurance, retirement plans, and supplemental group benefit plans. The insurance services segment holds more than 31,000 group policies covering 6.8 million employees throughout the US. The company's asset management segment provides investment advisory, retirement planning, mortgage lending, and other financial services.
The insurance services segment, which includes subsidiaries Standard Insurance and Standard Life Insurance of New York, generates more than 85% of StanCorp Financial Group's revenues. Group long term disability accounts for 40% of its premiums while life and accidental death and dismemberment products together account for another 40%. The remaining premiums are collected from group short term disability, individual disability, and group dental and vision insurance products. The company's products are sold through its sales force and independent employee benefit brokerage and consulting firms.
StanCorp's asset management segment offers an array of retirement products, including 401(k) and 403(b) plans, and individual annuities. It pitches its retirement plans at businesses that have between $1 million and $10 million in plan assets. Its annuities are targeted at conservative investors. The company does a smidgen of commercial mortgage lending for small retail, office, and industrial properties. – less
3 salaries reported
$96,052 per year