The Guardian Life Insurance Company of America, a mutual life insurer and a provider of employee benefits, announced the launch of new accident and cancer insurance policies that provide employees access to health and financial protections.
These benefit options help to round out Guardian's suite of VoluntaryWorks offerings.
According to a release, as economic and legislative forces continue to affect employee benefit offerings, voluntary products- such as accident, cancer and critical illness-will experience increased marketplace demands. Given the limitations of medical insurance plans through traditional benefits packages, brokers and employers must be cognizant of the need to offer essential forms of insurance coverage to protect employees from serious illnesses and damaging accidents. The inherent changes in the benefits marketplace create a situation where brokers need to reexamine traditional benefit offerings. As a result, brokers should consider offering voluntary product choices to employers that will allow them to fulfill the benefits needs of their employees and address insurance coverage gaps.
"Voluntary products, including accident and cancer coverage, serve as compliments to traditional medical coverage for employees and their family members. These coverages help pay for indirect costs and expenses associated with injury or illness and the cash received by the insured can be used as needed to help with everyday living expenses." said Michael Martocci, 2nd Vice President, Worksite Markets, Guardian. "The addition of these new products to Guardian's voluntary offerings ensures that we have the right mix of products and support for our customers."
The Guardian Life Insurance Company of America and its subsidiaries are committed to protecting individuals, business owners and their employees with life insurance, disability income insurance, dental insurance products, and offer funding vehicles for 401(k) plans, annuities and other financial products.
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