GUARDIAN ANNOUNCED the introduction of new voluntary and buy-up long-term disability offerings. The new offerings combine an employer-sponsored core plan with voluntary options that allow employees to buy-up or purchase additional coverage as a supplement to their core LTD benefit. The new enhancements enable employees to tailor coverage to their specific needs and budgets.
The administration for implementing and managing these offerings also has been simplified. Customers can use a new billing format, which simplifies payroll deduction.
In addition, employers will receive one benefit booklet that encompasses all of the voluntary LTD options and buy-ups available for each class of employees. The new voluntary options available include:
Schedule of benefits buy-up: Employees can make changes to their maximum monthly benefit, benefit duration,
benefit percent and to the elimination period provided in their core plan.
Benefit enhancements buy-up: Employees can add various options, including a critical disability supplement, cost of living adjustment and pension or retirement supplements.
Flat amounts buy-up: Employees choose a flat amount of coverage that will be added to the monthly benefit provided by the core plan.
Craig Guiffre, vice president of group life and disability SBU, says these offerings are unique because of the breadth of choices available, in addition to the simplification of the administration process.
For more information and to confirm availability of these plans, visit www.guardianlife.com/home/get_quotes_and_product_info.html.
