Available as an option on short-term disability policies, Guardian becomes the only carrier to offer a paid leave benefit rider option at scale
NEW YORK, July 22, 2024 /PRNewswire/ — The Guardian Life Insurance Company of America® (Guardian) has announced the launch of its paid leave benefit rider to its short-term disability policies, further demonstrating its commitment to supporting caregivers and their well-being.
The expansion of Paid Family and Medical Leave (PFML) programs in various states across the U.S. is fueling a demand for paid leave as a standard employee benefit. However, just 27% of Americans currently have such access1. In states without mandated PFML programs, Guardian’s new paid leave benefit rider will help expand coverage for a variety of paid leaves. In turn, employers can offer benefits that help attract and retain talent, meet their employees’ financial and well-being needs, and provide equal access across their workforce.
Additionally, Guardian’s paid leave benefit rider helps provide employers with flexibility, including the option of whether to only offer parental bonding leave or extend coverage to include family care. If family care is selected, the rider covers an expanded array of leave types, including leaves associated with a military exigency or to respond to the impacts of domestic violence and abuse—the latter of which is not always included in paid leave offerings.
Currently available in 30 states and counting, Guardian’s paid leave benefit rider is the industry’s most widely available offering. With the addition of the rider, Guardian also offers one of the industry’s most comprehensive short-term disability plans that includes a suite of caregiver-focused support and resources.
“No two caregivers have the same experience, and Guardian is committed to supporting our members wherever they are on their journey,” said Jessica Vanscavish, Head of Disability, Absence, Life, and Supplemental Health at Guardian. “For those who might be embarking on this chapter, it can be a significant transition. Having access to paid family leave coverage is one of the best ways we can support caregivers and their well-being, across mind, body, and wallet®.”
The addition of the paid leave benefit rider comes on the heels of other recent caregiver-focused enhancements by Guardian. In June, Guardian announced a new partnership with Wellthy, becoming the first insurer to include caregiving support services—including access to a care concierge, digital planning tools, and an online peer-to-peer knowledge sharing space—in employer-provided disability offerings. Guardian also recently partnered with Osara Health to become the first insurer to include cancer support services in Group long-term disability insurance and offer it at scale. Through Guardian’s integrated disability claims management process, members diagnosed with cancer have access to a dedicated health coach, personalized weekly digital education modules and motivational articles, and the broader Osara Health app.
For more information about Guardian’s paid leave benefit rider, please visit: https://www.guardianlife.com/group/disability-insurance/paid-leave-benefit-rider.
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About Guardian
Guardian makes a difference in the lives of people when they need us most. With over 160 years of stability and fiscal integrity, we are a trusted resource to generations of families and business owners, inspiring well-being and helping build financial confidence. Today, we stand behind millions of consumers, helping them prepare and plan for a bright future for themselves and their families. We help business owners care for their employees. And we help people recover and thrive in times of unexpected loss. As a modern mutual insurance company, we believe in driving value beyond dividends. We invest in our colleagues, are building an inclusive and innovative culture, and are helping to uplift communities through thoughtful corporate impact programs. Guardian, which is based in New York City, is a leading provider of life, disability, dental, and other benefits, and has received accolades for its culture and service. Our colleagues and financial professionals serve with care and experience, and our commitments rest on a strong financial foundation, which included a 2024 dividend allocation of $1.398 billion – the largest in the company’s history. For more information, visit guardianlife.com or follow us on Facebook, LinkedIn, and YouTube.
Disclaimer:
Guardian® is a registered trademark of The Guardian Life Insurance Company of America. Copyright © 2024 The Guardian Life Insurance Company of America.
Dividends are not guaranteed. They are declared annually by Guardian’s Board of Directors. The total dividend calculation includes mortality experience and expense management as well as investment results.
Financial information concerning Guardian as of December 31, 2023, on a statutory basis: Admitted assets = $80.3 billion; liabilities = $71.2 billion (including $58.0 billion of reserves); and surplus = $9.1 billion.
Guardian’s paid leave benefit rider is available on its contributory, contributory, or voluntary short-term disability policies.
Guardian’s Short Term Disability is underwritten and issued by The Guardian Life Insurance Company of America, New York, NY. Products are not available in all states. Policy limitations and exclusions apply. Optional riders and/or features may incur additional costs. This policy provides disability income insurance only. It does NOT provide basic hospital, basic medical, or major medical insurance as defined by the New York State Department of Financial Services.
Wellthy, Inc. (“Wellthy”) is a vendor to The Guardian Life Insurance Company of America (“Guardian”). Wellthy and Guardian are not affiliated entities. Wellthy provides a care coordinator to integrate separately retained caregiver resources (e.g., senior care, childcare, etc.) for the benefit of a member or their permitted dependents. (“Services”). Guardian does not control or provide any part of the Services and does not bear any liability for their provision. This informational resource is not a contract and is for illustrative purposes only. Only the policy contains applicable terms. Guardian and Wellthy reserve the right to discontinue Services at any time without notice. Services may not be available in all states. ©2024 The Guardian Life Insurance Company of America.
Osara Health (“Osara”) is a vendor to The Guardian Life Insurance Company of America (“Guardian”). Osara and Guardian are not affiliated entities. Osara provides a personalized support program through certified health coaches to address cancer management issues for the benefit of a member (“Services”). Services are designed for members 18 years+ of age, diagnosed with cancer, regardless of cancer type, stage, or prognosis. Services are not meant to provide medical advice/care. Medical advice/care should be sought from your independent healthcare provider(s). Guardian does not control or provide any part of the Services and does not bear any liability for their provision. Guardian and Osara reserve the right to discontinue Services at any time without notice. Services may not be available in all states.
1 Employee Benefits in the United States, 2023 : U.S. Bureau of Labor Statistics (bls.gov)
SOURCE Guardian
