The Guardian Life Insurance Company of America has introduced a new multi-coverage voluntary package to provide employers with the opportunity to offer their employees a comprehensive benefits plan.
Guardian said that its multi-coverage plan will enable employers with three or more employees to choose from a variety of different lines of coverage and benefit levels at a single rate.
Packages can include a combination of long-term disability, short-term disability, life, accidental death and dismemberment and critical illness coverage.
Multi-coverage plan gives employers the flexibility to choose which benefit combination is right for their company, and gives employees benefits coverage with a simple enrollment process under a single rate, according to the company.
Guardian second vice president for life & disability Barry Petruzzi said voluntary multi-coverage plans are gaining in popularity because they give employers a comprehensive employee benefit package option to help attract and retain employees while being budget-friendly.
"These bundled plans make it easier to select, enroll, and administer, and are especially helpful to businesses that are offering benefits coverage to their employees for the first time. With one rate, these plans take the stress off the employer and limit the administrative burden that comes with offering different options at different coverage levels and price points," Petruzzi said.