Accident and Cancer Products Solidify Guardian VoluntaryWorks Portfolio
NEW YORK, NY, -July 26, 2012- The Guardian Life Insurance Company of America (Guardian), one of the nation’s largest mutual life insurers and a leading provider of employee benefits, yesterday announced the launch of new accident and cancer insurance policies that provide employees access to important health and financial protections. These important benefit options help to round out Guardian’s comprehensive suite of VoluntaryWorks offerings.
As economic and legislative forces continue to affect employee benefit offerings, voluntary products, such as accident, cancer and critical illness, will experience increased marketplace demands. Given the limitations of medical insurance plans through traditional benefits packages, brokers and employers must be cognizant of the need to offer essential forms of insurance coverage to protect employees from serious illnesses and damaging accidents. The inherent changes in the benefits marketplace create a situation where brokers need to reexamine traditional benefit offerings. As a result, brokers should consider offering voluntary product choices to employers that will allow them to fulfill the benefits needs of their employees and address insurance coverage gaps.
“Voluntary products, including accident and cancer coverage, serve as compliments to traditional medical coverage for employees and their family members. These coverages help pay for indirect costs and expenses associated with injury or illness and the cash received by the insured can be used as needed to help with everyday living expenses.” said Michael Martocci, 2nd Vice President, Worksite Markets, Guardian. “The addition of these new products to Guardian’s voluntary offerings ensures that we have the right mix of products and support for our customers.”
Importantly, both the accident insurance and cancer insurance policies are fully portable. In addition, the cancer offering includes a host of preventative coverage measures, including screening and early detection tests. These new products are offered as an employee-paid option. When used along with Guardian’sEnrollmentWorks services, it is convenient for employers to offer additional voluntary products that can be easily integrated into their benefits portfolio.
The addition of accident and cancer products significantly enhances Guardian VoluntaryWorks, which offers a comprehensive array of coverage options, including dental, life, disability, vision and critical illness insurance. This portfolio provides brokers and employers with critical and wide-ranging options to help protect employees for a variety of health and financial needs.
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A mutual insurer founded in 1860, The Guardian Life Insurance Company of America and its subsidiaries are committed to protecting individuals, business owners and their employees with life insurance, disability income insurance, dental insurance products, and offer funding vehicles for 401(k) plans, annuities and other financial products. Guardian operates one of the largest dental networks in the United States, and protects more than six million employees and their families at 115,000 companies. The company has approximately 5,000 employees in the United States and a network of over 3,000 financial representatives in more than 80 agencies nationwide.
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