The stability of an insurance company is extremely important, especially if it's a long term disability carrier. Why? Take a look at these statistics:
- Three in 10 workers entering the work force today will become disabled before retiring*
- A disabling injury occurs every three seconds in a public setting and every four seconds in the home**
Disabilities occur more often than you think and may last for several years. And, there is the potential for a long term disability to last until someone reaches retirement age. This means that a person could be without a steady pay check for years or decades.
It is also important to note that, for most people, the ability to earn income is their most valuable financial asset. This is probably something that went unnoticed in the past, but in today's economy it is essential that this asset be protected. That's why employers need to be assured that their carrier will be there to protect employees when they need it most.
Hallmarks of A Strong LTD Carrier
Any carrier can perform well when the economy is booming. But what company can be counted on to be there to pay long term disability claims when times are tough? A company with stability, strong ratings, a strong capital position, a conservative investment philosophy and consistent claims paying ability.
Stability: Look for a company that has a long track record of providing benefit solutions and claims paying ability.
Independent recognition: Work with a company that is recognized as steady and strong by the ratings agencies.
Strong Capital Position: In today's economic environment, companies need to be well capitalized to meet financial obligations like paying long term disability claims over an extended period of time.
Conservative investment philosophy: Many companies are distracted by the short-term demands of Wall Street, instead of the needs of their customers. Working with a company that is focused on its customers will ensure that long-term benefit needs are met.
Outstanding Service: When selecting a disability plan, clients want to know that their carrier will be able to meet long term commitments. They also want their carrier to pay claims quickly and accurately, especially in turbulent economic times.
Count on Guardian for LTD
As a mutual company, Guardian remains focused on its customers and takes a long-term view on what's best for them. The company has been protecting against financial hardship brought on by disability for more than 40 years. Employers and their employees can count on Guardian for reliable service standards and thorough claims management review. All five major independent rating agencies affirm Guardian's financial strength & stability.
To learn more about Guardian, visit www.GuardianLife.com.
Financial information concerning The Guardian Life Insurance Company of America as of 12/31/08 on a statutory basis: Admitted Assets = $29.0 Billion; Liabilities = $25.3 Billion (including $22.1 Billion of Reserves); and Surplus = $3.7 Billion. Also, add: Ratings as of 5/09.
*Social Security Administration, Fact Sheet, January 31, 2007. **National Safety Council, "Injury Facts," 2007 Edition
