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Guardian Boosts Voluntary Disability Products

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A mutual life insurance company has bolstered its voluntary disability product lineup.

The Guardian Life Insurance Company of America, New York, announced that it has simplified enrollment and reduced premiums for both its STD and LTD Disability Choice plans.

Additionally, Guardian increased its maximum levels of coverage. The maximum STD benefit, now available at $1,500, was $750. The maximum LTD benefit has been raised to $10,000 from $2,500. In either case, the amounts cannot exceed 60% of salary.

Disability Choice, one of the company’s voluntary long term disability (LTD) and short term disability (STD) programs, provides benefits based on increments or flat amounts as opposed to a percentage of employees’ salaries. This approach, the Guardian says, eliminates the need for an employee census, eases enrollment and makes the plans “more accessible” to employees.

Guardian Life adds that the DI plans also let employees increase coverage each year through an annual step-up option. The option allows employees to adjust their insurance amount as their needs and salary change.