Guardian's building A Guardian branch office in Bethlehem, Pennsylvania. (Photo: Courtesy Guardian Life)

Guardian Life Insurance Company of America is making a benefits value rollover option available for another type of product.

The New York-based company has built a Rainy Day Fund value rollover feature into its voluntary accident insurance policy.

A worker who buys a new Guardian Accident Insurance policy can use up to $500 from the fund each year to cover insurable costs beyond the policy’s coverage limitations. A worker could, for example, use the $500 to pay for extra physical therapy sessions, Guardian says.

A worker who avoids using all of the $500 in one year can keep the unused value in the Rainy Day Fund. A worker can accumulate up to $1,000 in fund value, according to Guardian.

(Related: Guardian Develops New Dental Max Options)

The Rainy Day Fund feature is now a standard accident insurance policy feature, Guardian says.

Guardian has been offering a benefits value rollover feature with its dental insurance since 2010.

Guardian has also added an optional Injury-Free Benefit feature.

That feature will pay the employee a cash benefit if the employee’s family stays claim-free for five years, Guardian says.

— Read Guardian Starts Moving 300 Workers to Old Bell Labs Siteon ThinkAdvisor.

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