What are voluntary benefits?
As your clients seek to provide employees with competitive benefits packages without overtaxing their budgets, they may be asking you, “What are voluntary benefits and how can they help?” Essentially, they are plans that offer a similar level of services and insurance benefits as employer-paid group insurance plans, but they enable your clients to offer coverage to their employees at group rates, while paying little or nothing themselves.
As one of the fastest-growing company in voluntary benefits sales1, Guardian can help you provide your clients with traditional non-medical employee benefits on a voluntary basis, with plans that include:
- Dental Insurance
- Vision Insurance
- Life Insurance
- Disability Insurance
Dental and Vision insurance plans complement traditional medical benefits
Together Dental and Vision can help contribute to a more holistic approach to employee health:
Dental insurance is one of the most popular benefits for employees and regular preventive dental care is important to overall health. Our voluntary Dental product offers the same range of features and network access as our industry-leading, employer-paid dental plans:
- One of the top national dental networks for access and discounts
- PPO, Managed Dental Care/DHMO, and Dual Choice offerings
- Oral health features that help members get more value from their dental benefits – Maximum Rollover, Preventive Advantage, oral cancer screenings, and enhanced periodontal maintenance
Guardian Vision insurance gives employees access to a diverse selection of private practice providers through our large, convenient network. Retail partners include Costco, Visionworks, Walmart, Sam’s Club, Target, Sears, JC Penney, and Pearle Vision.
- Our plans are customizable and designed to help employees save. Contact lens evaluation and fitting are standard with a copay on all plans – and employers chose from a range of material allowances. Lens options such as polycarbonate, transitional, and progressive lenses can be covered in full.
- Optional features include allowances on Lasik surgery, and benefits for diabetic eye care and low vision to meet a wide range of employee needs. Employers can add hearing coverage to give their employees access to quality hearing care and savings on name brand hearing aids and related technology.
- To ensure we meet the specific needs of your clients’ employees, we also offer two other plan options: VSP and DavisVision. These plans give employees thousands of doctors to choose from in convenient locations.
Life and Disability insurance plans provide critical income protection and reassurance for your clients’ employees
Guardian is one of the few providers to offer two robust Voluntary Life insurance products that will help your clients stand out with employees. Highly flexible, these products are designed to protect employees with affordable, complete, and continuous life coverage through convenient payroll deductions.
Employees can choose Term or Permanent Life insurance — or both — at little to no cost to your clients. And with generous guaranteed issue amounts, no medical exams are required for basic levels of coverage.
- Voluntary Term – Cost-effective coverage provided for a specific period of time to support families with significant financial responsibilities.
- Voluntary Permanent Life – Often a complement to Term, this product enables employees to lock in pricing for coverage that can cover final expenses and helps build cash value over time, which can be used for loans or withdrawals as needed.*
It’s estimated that 25% of the workforce will be disabled for at least three months during their working career due to an illness or injury.2 The average long-term disability claim lasts more than 30 months,3 which can create a heavy burden for both employers and their employees’ financial health. You can help your clients manage these challenges and offer their employees ways to protect their income during times of hardship.
With Guardian, those solutions are backed by exemplary financial ratings,4 excellent claims processing efficiency, and more than 155 years of dedicated service to our policyholders. We offer a consultative approach to help you find the right solution for your clients — one that meets the diverse needs of their workforce and offers attractive group rates employees will value as a company benefit — and all at no direct cost to your clients. Our comprehensive portfolio includes:
- Short Term Disability (STD) – We offer a wide variety of customizable plans to help your clients manage risk and control costs, while offering financial protection for employees typically during their first 90 days of disability. With Guardian Disability Income SelectTM plans, your clients can even give their employees choices over different aspects of your plan, including benefit amounts and combined options for benefit duration & elimination period. Contracts use clear language around definitions, eligibility and exclusions. Plans also include features that encourage a faster return to work, an added benefit for your clients as well as their employees.
- Long Term Disability (LTD) – To help employees cope with an extended absence from work due to illness or injury, your clients can offer coverage that helps employees continue to provide for their families. Long Term Disability can help with mortgage payments, the costs of groceries, as well as health and education expenses. Our contracts are very flexible, and support a return-to-work philosophy with built-in features that motivate and encourage. Plans also include options like rehabilitation plan payment enhancements, loan payment protection, and more. And by bundling LTD with STD, employees have the best overall coverage options for any situation.
- Supplemental Individual Disability Income Insurance** – Beyond core disability insurance coverage, this program allows your clients to offer additional income protection for high earners and key employees. This coverage can be a valuable recruitment and retention benefit, as it can cover other income sources such as commissions and bonuses that traditional group disability insurance may not.
These benefits, when offered by your clients, even on a voluntary basis, are often more affordable than if purchased separately outside their company.
Find out why Guardian is one of the fastest-growing companies in voluntary benefits sales1
Work with us to learn how traditional voluntary benefits and products can best meet the needs of your clients.