Standard Life and Accident Insurance Company Overview

Standard Life offers short term medical insurance designed to act as temporary coverage for up to 12 months. The policy is designed for those who are between jobs, those who have missed open enrollment, or people who are newly retired and waiting for Medicare coverage.

HealthNetwork’s Review and Ratings of Short Term Plans Offered by Standard Life:

24State OfferingsNumber of States

DMarketing ScoreA – F Grade

PoorPlan ValuePoor, Good, Excellent

7.3Trust ScoreOut of 10

State Offerings

Standard Life and Accident Insurance Company offers short term plans in only 24 states.

There are five states in the country that do not allow any carrier to offer short term plans in the state because they prohibit fixed term health insurance plans that do not cover pre-existing conditions. Those five states are New York, New Jersey, Rhode Island, Vermont and Massachusetts.

Marketing Score

Standard Life and Accident Insurance Company received an D grade on HealthNetwork’s Ratings and Reviews’ Marketing Score Category in large part because it does not sell its plans on its own website, which means that how information is presented, how marketing and remarketing is conducted and how a customer interacts with the entity that they purchase a Standard Life and Accident short term plan from is ultimately outside of the control of Standard Life and Accident.

Consumers should carefully review and consider the online broker or telephonic agency that they interact with to purchase a short term plan from Standard Life and Accident.

Plan Value

Standard Life and Accident’s plans were rated Poor Value on HealthNetwork’s Ratings and Reviews’ Plan Value Category, which means that consumers who purchase one of their products should understand that they could probably find another plan on the market with more benefits and more value for the price.

Out-of-pocket caps and deductibles are both important features of any short term plan. The lowest out-of-pocket max payouts that Standard Life and Accident short term plans offer is $10,000. Many of their competitors offer plans with much lower out-of-pocket max requirements.

Standard Life and Accident does have a variety of options for term deductibles though. They have plans with term deductibles as low as $500.

Trust Score

Standard Life and Accident scored a 7.3 out of 10 onHealthNetwork’s Ratings and Reviews’ Trust Score Category. The company has been around for many years and employs thousands of people. Its parent company is publicly traded as well, which means that it has investors to answer to and many eyes watching its business operations.

Consumers should feel fairly confident enrolling in a short term plan with Standard Life and Accident.

About Standard Life and Accident Insurance Company

Originally known as The Hospital Service Company, Standard Life was founded in 1933 as the first hospitalization charter issued, not only in Oklahoma but in the world. The company name changed to The Hospital Mutual Company and then the Hospital Insurance Company, but initially only offered group hospitalization coverage that could only be used at certain hospitals. In 1940, Hospital Mutual Inc., as the company was then known, became Old Line Legal Reserve Company. At that time, they changed their name to Standard Life and Accident Insurance Company, the same name they use today. Over the next few years, the company expanded their services beyond the borders of Oklahoma, building a strong presence in several states in the Midwest, Southeast and West. By 1958, Standard Life was operating in 29 states and in 32 states by 1968.

In 1976, American National Insurance Company acquired Standard Life. The company now operates as a subsidiary of American National, which expanded its product line. In 1998, they relocated to Galveston, Texas, where American National is located. Today, Standard Life has assets of $514.5 million. The company has an A.M. Best rating of A (Excellent) and an A- from Standard & Poor’s.

About Standard Life Short Term Health Plans

If you’re between health insurance plans, whether you’re starting a new job, waiting for Medicare coverage to begin or you’ve missed the open enrollment period, short term health plans can help you bridge the gap between coverage. Standard Life offers plans with fast approval, no restrictions on what healthcare providers can be used and, affordable prices. The policies do not meet the requirements of the Affordable Care Act (ACA) as they do not provide the minimum essential coverage required under the law. This means that you could face a tax penalty if you do not have another policy that is ACA compliant, at least until 2019 when that penalty will be eliminated.

Standard Life Short Term Plan Options:

Standard Life offers several different short term health insurance plans, each with its own range of deductibles, out-of-pocket maximums and terms. Plans can be chosen with up to $2,000,000 lifetime benefits per family member and coinsurance options of either 50/50 percent or 80/20 percent. Deductible options include $250, $500, $1,000, $5,000 or $7,500. Under Standard Life's short term health insurance plans, doctor's offices and urgent care facilities are not subject to the deductible. Instead, they're paid at the coinsurance rate after a $50 copayment. You may choose any provider, although the company offers a large provider network to keep costs lower. The plans also include a ScriptSave prescription discount membership at no additional charge, and there are premium discounts for paying your annual premium up front rather than choosing monthly payments. There are also child-only plans for children under the age of two.

$250 - $7.5K

Deductible Options


Lifetime Benefits Cap

Apply for Coverage

Standard Life does not offer major medical plans, only short term health plans. They also offer supplemental plans, such as critical illness, cancer and hospital indemnity.

It's important to note that not all short term policies offered by Standard Life are available in every state. The company claims to offer short term plans up to 12 months, but current regulations prevent temporary policies from lasting longer than three months. By law, these plans are also not renewable. You may purchase another short term policy, but any condition treated during the previous policy will likely not be covered under the new one. New rules under the Trump administration (yet to be finalized as of May 2018) may restore the duration of short term policies to up to 12 months.