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April 12, 2006
Guardian Deposits More than $50 Million into Dental Maximum Rollover Accounts
New York, April 12, 2006 — The Guardian Life Insurance Company of America (Guardian) has witnessed strong participation in its recently launched Dental Maximum Rollover program. Since the offering launched in 2004, the company placed more than $50 million rollover dollars in client accounts. The deposits represent the money that Maximum Rollover participants collectively saved due to the program.
The Maximum Rollover feature allows Guardian and First Commonwealth (FCW) PPO members to roll over a portion of their unused annual maximum into a personal Maximum Rollover Account (MRA), in case the need for more extensive dental care arises in the future. Traditionally, many plans offered by other carriers employ a "use it or lose it" model for their dental products.
"Since Maximum Rollover launched in fall 2004, broker and planholder response has been very positive," said John Foley, Vice President Group Dental. "Brokers have expressed that Maximum Rollover is a significant retention tool. Our members value the ability to accumulate these funds. Consumers can save it and use it, as opposed to use it or lose it."
"Maximum Rollover provides enormous value to our clients and their employees, who compare it to rolling over unused cell phone minutes" said Joe Part, employee benefits broker with Alltrust Insurance, Tarpon Springs, Florida. "It is clearly different and better than what is offered in the market and truly sets Guardian apart."
If a member uses the services of Guardian or FCW Preferred Providers exclusively during the year, they can rollover an even larger amount. Additionally, the program rewards long-term employees by allowing unused account balances to accumulate over time. The longer employees stay with the network plan the more they can accumulate for future dental care.
According to Barclay Sands, a broker at Lykes Insurance, Inc. in Winter Park, Florida, "Our clients like this new feature so much we have moved two of our large groups to Guardian Dental because of it," said Sands. "I applaud Guardian for bringing more innovative ways to provide dental coverage with the flexibility our clients are asking for."
For more information, please contact your local Guardian Group Sales Representative or 1-888-278-4542.
About Guardian
Founded in 1860, The Guardian Life Insurance Company of America, New York, NY (Guardian) is the fourth largest mutual life insurance company in the United States. As of December 31, 2005, Guardian and its subsidiaries had $40.7 billion in assets (on a GAAP basis). With more than 5,000 employees and 3,000 financial representatives, as well as over 85 agencies nationwide, Guardian and its subsidiaries protect individuals, businesses and their employees with life, disability, health, long-term care and dental insurance products, and offer 401(k), financial products and trust services. More information about Guardian can be obtained at: www.guardianlife.com.
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