Recently, Guardian launched guaranteed issue on the disability income indemnity products for the small business owners. Guardian or The Guardian Life Ins. Company of America is one of the leaders of employee benefits for the mid-sized and small companies as well as the largest mutual-life insurance provider.
Now the companies with two to nine workers can opt for disability insurance products on the guaranteed issue basis. This option was formerly available to the large companies only; but now Guardian launched guaranteed issue on disability indemnity products for the small business owners too.
What does a guaranteed issue do?
- Guaranteed issue coverage lets the employees get insurance protection with no medical exam. They don't need to undergo any medical underwriting. With such issue, employers now have larger access to coverage with no medical underwriting.
The Guardian cites value of the income protection in present economy and its dedication to give small businesses larger benefits at the most affordable rates as reasons for new enhancements.
Guardian launched guaranteed issue on disability income indemnity products. According to Clancy Merrill, the executive director for Guardian Small Group Strategic and Sales Alliances, for the small business owners, providing disability along with life coverage makes better business sense; especially at the time while households dependant on more than one income have been already bit by economic slump and job loss. The employees now possess a raised sense of the requirement for the income protection and appraise employers that provide life along with disability protection package in order to level playing field as well as small employers compete with large companies.
Such enhancement complements the guaranteed issue on the life indemnity products that was available to the groups with 2 to 9 workers for more than a year.