Life insurance is an important part of a comprehensive employee benefits package that helps support employees’ financial wellness. After all, a path toward enhanced financial independence involves more than just building savings.
Employees often protect the things that are valuable to them. And among the top of that list are family and loved ones. If something were to happen, life insurance can help them manage expenses – from the everyday bills to larger obligations like mortgages, car payments and loans.
Like other working Americans, your employees count on life insurance through work:
• 74% of those with life insurance obtain it from their workplace1
• Yet, more than 60% have either no life insurance or less than industry recommended coverage amounts1
Guardian helps employers offer a life insurance program that sets their employees on a path toward financial wellness, while looking out for the bottom line.
Through a variety of funding options for our Term Life Insurance, we’re committed to helping you provide a comprehensive plan that works for you.
Key features for employees:
- Guarantee issue amounts help many employees obtain coverage, regardless of health history
- Portability allows employees to keep coverage if they change jobs
- LifeAssistSM option provides critical income to employees who suffer a severe or catastrophic disability while on approved waiver of premium
- Options to easily increase voluntary term life insurance amounts over time without medical exams or by automatic increase
You can offer a complete, continuous solution by offering both our Term and Voluntary Permanent Life Insurance.
Term Life offers cost-effective coverage for a specified period. It provides beneficiaries with a cash benefit to help pay for household expenses, day care costs, mortgages and college tuition. It is typically purchased during employees' working years when family financial responsibilities may be the greatest and before rates increase due to the employees' age.
- Rates are initially lower than Permanent Life but premiums increase over time
- Designated period of time
- No cash value
- Dependent coverage available
- WillPrep Services automatically included on all voluntary term life cases at no additional cost
Permanent Life coverage complements Term Life by enabling employees to lock in pricing with a smaller policy to help cover final expenses. Employees can also build cash value that can be used for loans or withdrawals during working and retirement years.2
- Rates are initially higher than Term but they never increase
- Coverage lasts through retirement
- Builds tax-deferred cash value that is accessible
- Portable coverage for employee, spouse and child that locks in future insurability
- Flexible paid up at age 65 option, so your employees can lock in benefit amount until age 120 — with no more payments
Then to maximize financial security for your employees, offering Accidental Death & Dismemberment (AD&D) insurance can complement a Life plan by covering accidental death and injuries.
The value you can provide your employees goes beyond just a group life insurance plan with these other available services:
- Will Preparation Services - access to estate planning professionals, online planning documents and resource library (automatically included on Voluntary Term Life).
- WorkLifeMatters – employee assistance program providing guidance on personal, financial and legal matters. Plus, workplace tools for employers.
- Travel Related Insurance Protection (TRIP) - an emergency travel and medical assistance program designed especially for employees who frequently travel for business or pleasure.
- College Tuition Benefit – when your employees participate in a Guardian plan, they can earn tuition rewards that can help pay for the cost of college.
We’re one of only a few carriers to offer both voluntary term and voluntary permanent life insurance coverage. As a result, you can offer employees the flexibility to select one of these life insurances or both, at little or no cost to your company.
By giving them options and with our enrollment support, employees can get the coverage they need.
An enrollment experience where we do the heavy lifting
When a new employer offers voluntary life, our open enrollment support takes the work off of you and helps your employees purchase valuable coverage.
- Wide array of product education and decision support resources like onsite meetings, phone help, and online tools
- Multiple online enrollment options through GuardianAnytime.com or benefits administration platforms
Support that can be counted on
Through the years, Guardian has consistently maintained high financial ratings from ratings agencies. As a company that’s been delivering on promises for over 155 years, our stability means we’ll be there when customers need us most. When a life claim is filed, a tenured, dedicated life case manager handles your employees’ experience with empathy and care, and facilitates fast, accurate benefits payments.
Learn more about why Guardian is a smart choice for life insurance. We can provide any help you need in determining coverage to offer your employees.