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July 18, 2003
Guardian Introduces Benefits Packages For Small Business
Basic Protection Offers Three Essential Coverage's For One Premium
NEW YORK, July 16, 2003 - For businesses seeking to offer their employees an affordable, no-hassle basic benefits package including term life insurance, accidental death and long-term disability coverage, The Guardian Life Insurance Company of America has introduced Basic Protection, a set of single-premium basic voluntary benefits packages.
Basic Protection combines term life, AD&D and long-term disability insurance in a single benefits package, with a single premium payment and enrollment process. Depending on company size, employers will be able to choose from three coverage packages - Gold, Silver and Bronze - to meet the widest range of employee needs. The package is available for employers with as few as three employees. For companies with 25 to 500 employees, coverage is guaranteed without requiring individual underwriting.
"Proactively addressing customer needs and preferences is important to us," said Richard A. White, Senior Vice President, Group Insurance. "Many people employed in this market segment do not have a relationship with an individual insurance agent. As a result, employers are demanding easy-to-administer, cost-effective plans that meet their employees' most fundamental insurance needs. Basic Protection addresses these needs."
Understanding that most small business owners operate at full speed around the clock, Basic Protection was designed with simplicity in mind. Combined premiums with only three age bands allow for simplified billing and enrollment. Automatic payroll deduction makes program administration easy. Recognized throughout the insurance industry for its superior customer service, Guardian also provides professional enrollment support at the work site as well as expert claims turnaround by experienced professionals.
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, 2002, Guardian and its subsidiaries had $34.1 billion in assets. Founded in 1860, Guardian is listed among Fortune magazine's top 300 businesses—and in 2003 was ranked once again as one of the top 10 most admired life and health companies in Fortune's "America's Most Admired Companies" list. With 5,500 employees, over 2,700 financial representatives and 100 agencies nationwide, Guardian and its subsidiaries protect individuals, businesses and their employees with life, disability, health and dental insurance products, and offer 401(k), mutual fund and annuity investment products, and trust services. More information on Guardian can be obtained at: www.guardianlife.com.
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