The Guardian Life Insurance Company of America has introduced provider choice, individual disability income (“DI”) insurance protection with customization options.
In a statement, Guardian said that provider choice offers three policy packages. Each package includes a base policy with hospice care and provisions for serious illnesses such as cancer, stroke, and heart attack. Every base policy then can be customized with riders, or options, that address customers' needs. Provider choice offers riders that can cover retirement plan contributions, partial disability, and options to help keep pace with inflation. A student loan benefit rider will cover repayment of student loan debt, Guardian said.
“Guardian listens closely to its customers to ensure that we deeply understand their wants and needs, and the enhanced benefits and riders offered in provider choice reflect this,” said Lawrence Hazzard, the vice president of product strategy. “You could easily say provider choice was designed by our customers since it includes the features and benefits deemed most important to them.”
Professionals such as physicians and dentists can further tailor their DI coverage by selecting the own-occupation option. If disabled, they can choose to work in another capacity, within or outside of their field, sometimes even in their own practice, and not forfeit their disability benefits, according to the company.
Provider choice also offers a unique enhancement just for physicians. Guardian has crafted a new path to qualify for benefits based on the physician's pre-disability source of earnings. If more than 50 percent of a physician's earnings are derived from performing surgeries or hands-on patient care, and an illness or injury prevents him or her from doing this work, the physician is considered totally disabled and qualifies for benefits. “Consumers want more clarity around how a disability claim is evaluated,” Mr. Hazzard said. “The addition of this straightforward formula is a game changer, giving physicians not only more clarity, but also more ways to qualify for benefits.”
The policy is non-cancellable and guaranteed renewable, so consumers can lock in the policy's benefits and cost at the time of purchase. Customers also can choose to increase protection in the future with no medical underwriting, among many other options and enhancements, according to Guardian.
Learn more: www.guardianlife.com.
Victoria Spears
Victoria Prussen Spears is senior vice president of Meyerowitz Communications Inc., a law firm marketing communications consulting company. A graduate of Sarah Lawrence College and Brooklyn Law School, Ms. Spears was an attorney at a leading New York City law firm before joining Meyerowitz Communications. She may be contacted at [email protected].