Continuing group term life coverage options
If an employee or their covered dependent is no longer eligible for their Guardian life insurance coverage, we offer options that allow continued coverage so loved ones remain financially supported and protected.
Depending on your plan’s provisions, employees/dependents may have the following options to continue their coverage with Guardian:
Portability: Allows an insured employee to take their group term life coverage with them if they are no longer eligible for the group sponsored plan. Employees that port their coverage may also port coverage for their eligible dependents.
Conversion: Allows an insured employee/dependent to transition their group term life coverage to a permanent individual whole life insurance policy which can accumulate cash value.1,2
Employees on disability – waiver of premium benefit3: Guardian Life Insurance plans offer a waiver of premium benefit that allows qualified disabled employees to continue their group term life coverage, premium free, upon satisfying a waiting period and maintaining waiver eligibility.
If an employee is disabled and wants to apply for a waiver of premium: The employee must apply for this benefit, and submit, while living, written medical proof of total disability to Guardian within a specified period of time. It is recommended the employee apply for this benefit immediately at the start of their disability.
Interim coverage: Disabled employees who are eligible for the waiver of premium benefit may have the option to elect a temporary 11-month group term life interim coverage, while their waiver of premium benefit application is pending.
What you need to do
If an employee is no longer eligible for their group term life plan: it is your responsibility to provide the employee with a notice of their rights to continue coverage upon their termination. We recommend providing the employee with the “Employee guide to understanding portability and conversion” in the helpful resources section. If they are interested in continuing their coverage, direct them to reach out to Guardian’s National Conversion team at 800-433-5982, ext. 5696 or email national_conversions@glic.com.
If an employee is on disability: we recommend providing them with the “Continuing your group term life coverage when on disability” in the helpful resources section. If they have any questions, direct them to reach out to Guardian’s National Conversion team at 800-433-5982, ext. 5696 or email national_conversions@glic.com.
If employees have any questions on filing a waiver of premium: direct them to call 800-525-4542.
Helpful resources to share with employees
1 All whole life insurance policy guarantees are subject to the timely payment of all required premiums and the claims paying ability of the issuing insurance company. Policy loans and withdrawals affect the guarantees by reducing the policy’s death benefit and cash values.
2 Some whole life polices do not have cash values in the first two years of the policy and don’t pay a dividend until the policy’s third year. Talk to your financial representative and refer to your individual whole life policy illustration for more information.
3 The Disability Income and Waiver of Policy Premium Benefit Rider (form ICC21 DIR, DIR (12-2021), or state equivalent) is underwritten and issued by The Guardian Life Insurance Company of America (Guardian®), New York, NY. There will be an additional cost or premium associated with this Rider. Provisions, features, and availability may vary by state. Exclusions and limitations may apply.
This information is being provided based on Guardian’s standard guidelines, and other restrictions or guidelines may apply to your specific plan.
Guardian, its subsidiaries, agents and employees do not provide tax, legal, or accounting advice. Consult your tax, legal, or accounting professional regarding your individual situation. The information provided is based on our general understanding of the subject matter discussed and is for informational purposes only.
Guardian Group Life Insurance is underwritten and issued by The Guardian Life Insurance Company of America, New York, NY.