Who Is Standard Life Insurance Company?
Standard Life Insurance Company is a life insurance provider that has served the Oklahoma City region since its establishment in 1970. The company offers a range of term and whole life products, annuities, and riders designed to meet the needs of individuals, families, and small businesses.
- Who Is Standard Life Insurance Company?
- Founding and Early Years (1970‑1980)
- Origins in Oklahoma City
- Initial Product Offerings
- Growth and Expansion (1980‑2000)
- Regional Reach
- Product Diversification
- Modern Era (2000‑Present)
- Technology Integration
- Community Involvement
- Key Milestones and Achievements
- Product Overview for Consumers
- Term Life
- Whole Life
- Riders
- How to Apply
- Financial Stability and Ratings
- Conclusion
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Founding and Early Years (1970‑1980)
Origins in Oklahoma City
Standard Life was incorporated in Oklahoma in 1970 under the leadership of founder John M. Harper, a local insurance broker with a vision to provide affordable coverage to middle‑class families. The company opened its first office in downtown Oklahoma City, quickly gaining a reputation for personalized service.
Initial Product Offerings
During its first decade, the firm focused on term life policies ranging from 10 to 30 years, with premiums tailored to income levels. Riders such as accidental death and disability were added in 1975 to broaden coverage options.
Growth and Expansion (1980‑2000)
Regional Reach
By the mid‑1980s, Standard Life expanded beyond Oklahoma City to serve the entire state, establishing branch offices in Tulsa, Norman, and Edmond. The company's growth was fueled by community sponsorships and a strong referral network.
Product Diversification
In 1990, the company introduced whole life policies and a series of investment‑linked annuities, positioning itself as a comprehensive financial services provider. Partnerships with local banks and financial advisors helped increase distribution channels.
Modern Era (2000‑Present)
Technology Integration
Standard Life embraced digital tools in the 2000s, launching an online quote engine and mobile app in 2012. These innovations streamlined policy management for both agents and consumers.
Community Involvement
The firm continues to sponsor local events, including the Oklahoma City Marathon and the Oklahoma State Fair. Corporate social responsibility initiatives focus on financial literacy programs in schools.
Key Milestones and Achievements
| Year | Milestone | Impact |
|---|---|---|
| 1970 | Incorporation of Standard Life Insurance Company | Founded in Oklahoma City |
| 1975 | Launch of Accidental Death & Disability Riders | Expanded coverage options |
| 1985 | Opened Tulsa Branch | Statewide presence |
| 1990 | Introduced Whole Life and Annuities | Diversified product line |
| 2012 | Online Quote Engine & Mobile App | Improved customer experience |
| 2020 | COVID‑19 Remote Services Expansion | Maintained service continuity |
Product Overview for Consumers
Term Life
- 10‑year term: $0.50 per $1,000 of coverage
- 20‑year term: $0.35 per $1,000 of coverage
- 30‑year term: $0.25 per $1,000 of coverage
Whole Life
- Cash value accumulation
- Fixed premiums for life
- Dividend eligibility
Riders
- Accidental Death
- Waiver of Premium
- Accelerated Death Benefit
How to Apply
Prospective customers can apply online via the company's website, schedule a consultation with a licensed agent, or visit any of the regional offices. The application process typically takes 10–14 business days from submission to policy issuance.
Financial Stability and Ratings
Standard Life Insurance Company maintains a A‑ rating from AM Best, reflecting strong financial health and the ability to meet policyholder obligations.
Conclusion
Since its founding in 1970, Standard Life Insurance Company has grown from a single Oklahoma City office to a reputable regional insurer. Its commitment to product innovation, community service, and customer-centric technology keeps it relevant in a competitive market.