Elevance Health divests life and disability benefits business

The Standard will acquire Elevance Health's disability, accidental death and dismemberment, absence management and paid family leave businesses. 

According to a March 29 news release, The Standard, a Portland, Ore.-based disability and life insurance and employee benefits provider, will also enter a product distribution partnership with Elevance. 

Elevance's life and disability business covers 4.8 million lives in 14 states, according to the release. 

The financial terms of the deal were not disclosed. 

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