U.S. Bank and The Standard Make Disability Payments Easier; Stored Value Card Offers Greater Flexibility to People on Long-Term Disability

Apr 24, 2001, 01:00 ET from U.S. Bancorp

    MINNEAPOLIS, April 24 /PRNewswire Interactive News Release/ -- People who
 receive long-term disability benefit payments from Standard Insurance Company
 ("The Standard") now have a faster, more reliable way to receive and use their
 disability payments thanks to a new stored value card introduced by U.S. Bank
 and The Standard.
     The Standard SecureCard(SM) is the first and only card of its kind in
 group disability insurance.  Those who choose The Standard SecureCard will
 have their monthly payments automatically credited to the card on their
 regular benefit payment date.  The card can then be used for purchases or ATM
 withdrawals at the more than 20 million locations where VISA is accepted.  The
 card is reloaded with each payment, eliminating the need to deposit and
 withdraw the money from a checking or savings account.
     "We're delighted to partner with The Standard and offer a product that
 makes life easier for people who have encountered a long-term disability,"
 said John Owens, vice president of retail e-payments at U.S. Bank.
 "SecureCard customers can be assured that their disability payments will be
 automatically loaded to their card at scheduled intervals, alleviating concern
 about payment delays and lost checks.  Purchases made on-line or at
 traditional brick-and-mortar merchants will be protected by Visa's zero
 liability policy, and monthly statements will provide SecureCard customers
 with a detailed account of their transaction history."  Users may also
 transfer funds by phone to a checking or savings account.
     "The Standard SecureCard provides a valuable and important advantage to
 eligible employees while requiring little if any administrative effort and no
 increase in premiums for employers," said Mike Skiens, assistant vice
 president of employee benefits marketing at The Standard.  "We're excited to
 partner with U.S. Bank and be the first group disability insurance carrier to
 provide this innovative product."
     Available in all states except New York, The Standard SecureCard will be
 offered to disabled employees insured under long term disability policies that
 The Standard issued on or after January 1, 2001.
     Minneapolis-based U.S. Bancorp (NYSE:   USB), with assets in excess of
 $160 billion, is the 8th largest financial services holding company in the
 United States.  The company operates 2,242 banking offices and 5,208 ATMs, and
 provides a comprehensive line of banking, brokerage, insurance, investment,
 mortgage, trust and payment services products to consumers, businesses and
 institutions.  U.S. Bancorp is the parent company of Firstar Banks and U.S.
 Bank.  Visit U.S. Bancorp on the web at http://www.usbank.com and Firstar Bank
 at http://www.firstar.com .
     Standard Insurance Company, a subsidiary of StanCorp Financial Group, Inc.
 ("StanCorp") (NYSE:   SFG), is a leading provider of employee benefits products
 and services.  Founded in Portland, Ore. in 1906, The Standard now serves
 customers nationwide with group and individual disability insurance and
 retirement plans, and group life and dental insurance.  The Standard is
 licensed in 49 states and the District of Columbia, and is accredited for
 reinsurance in New York.  The Standard has more than 33,500 group insurance
 policies in force, covering nearly five million employees.  For more
 information about Standard Insurance Company, visit its web site at
 http://www.standard.com .
 
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                http://tbutton.prnewswire.com/prn/11690X36633412
 
 

SOURCE U.S. Bancorp
    MINNEAPOLIS, April 24 /PRNewswire Interactive News Release/ -- People who
 receive long-term disability benefit payments from Standard Insurance Company
 ("The Standard") now have a faster, more reliable way to receive and use their
 disability payments thanks to a new stored value card introduced by U.S. Bank
 and The Standard.
     The Standard SecureCard(SM) is the first and only card of its kind in
 group disability insurance.  Those who choose The Standard SecureCard will
 have their monthly payments automatically credited to the card on their
 regular benefit payment date.  The card can then be used for purchases or ATM
 withdrawals at the more than 20 million locations where VISA is accepted.  The
 card is reloaded with each payment, eliminating the need to deposit and
 withdraw the money from a checking or savings account.
     "We're delighted to partner with The Standard and offer a product that
 makes life easier for people who have encountered a long-term disability,"
 said John Owens, vice president of retail e-payments at U.S. Bank.
 "SecureCard customers can be assured that their disability payments will be
 automatically loaded to their card at scheduled intervals, alleviating concern
 about payment delays and lost checks.  Purchases made on-line or at
 traditional brick-and-mortar merchants will be protected by Visa's zero
 liability policy, and monthly statements will provide SecureCard customers
 with a detailed account of their transaction history."  Users may also
 transfer funds by phone to a checking or savings account.
     "The Standard SecureCard provides a valuable and important advantage to
 eligible employees while requiring little if any administrative effort and no
 increase in premiums for employers," said Mike Skiens, assistant vice
 president of employee benefits marketing at The Standard.  "We're excited to
 partner with U.S. Bank and be the first group disability insurance carrier to
 provide this innovative product."
     Available in all states except New York, The Standard SecureCard will be
 offered to disabled employees insured under long term disability policies that
 The Standard issued on or after January 1, 2001.
     Minneapolis-based U.S. Bancorp (NYSE:   USB), with assets in excess of
 $160 billion, is the 8th largest financial services holding company in the
 United States.  The company operates 2,242 banking offices and 5,208 ATMs, and
 provides a comprehensive line of banking, brokerage, insurance, investment,
 mortgage, trust and payment services products to consumers, businesses and
 institutions.  U.S. Bancorp is the parent company of Firstar Banks and U.S.
 Bank.  Visit U.S. Bancorp on the web at http://www.usbank.com and Firstar Bank
 at http://www.firstar.com .
     Standard Insurance Company, a subsidiary of StanCorp Financial Group, Inc.
 ("StanCorp") (NYSE:   SFG), is a leading provider of employee benefits products
 and services.  Founded in Portland, Ore. in 1906, The Standard now serves
 customers nationwide with group and individual disability insurance and
 retirement plans, and group life and dental insurance.  The Standard is
 licensed in 49 states and the District of Columbia, and is accredited for
 reinsurance in New York.  The Standard has more than 33,500 group insurance
 policies in force, covering nearly five million employees.  For more
 information about Standard Insurance Company, visit its web site at
 http://www.standard.com .
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X36633412
 
 SOURCE  U.S. Bancorp

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