Enhanced DI Insurance Program Makes Its Debut

Guardian recently introduced enhancements to its Multi-Life Disability Insurance (MLDI) platform as part of its Supplemental Income Protection Program. According to the company, this provides employers and brokers with a fully customizable DI insurance solution that eases benefits administration.

The platform upgrade includes access to a new Guaranteed Standard Issue (GSI) product, Provider Choice, which presents more DI insurance options. Employers and brokers will also have access to new technologies that offer improved features and functionality, such as easier, faster quoting, improved illustration outputs and more integrated administration capabilities. In addition, employers can access more self-service capabilities on Guardian Anytime, the company’s online billing and administration portal, and further enhancements to Guardian’s online enrollment site.

“Guardian’s new MLDI platform gives plan administrators and brokers the flexibility they need, in a digital system that eases their administrative burden and improves efficiencies,” said Lawrence Hazzard, Vice President of Product Strategy. “Guardian continues to be the only carrier that provides a completely straight-through process by delivering seamless digital integration and a robust set of eSuite tools. Both employers and employees appreciate the advantage the speed, ease and at-their-fingertips access these digital enhancements provide.”

Provider Choice includes new features such as a hospice benefit and student loan protection rider. The hospice benefit ensures that any unexpired portion of the elimination period—the time between making a claim and receiving benefits—is waived for a customer who is under physician-ordered hospice care. The student loan protection rider ensures that policyholders can continue to repay student loan debt and use base policy benefits to pay other expenses when they are unable to work due to a disability. Features exclusively for Provider Choice policyholders include:

• A five-year waiver of the elimination period

• Waiver of the premium that continues for six months post-claim

• Enhanced policy portability options

• Three options for Mental and/or Substance Abuse Disorders, which includes a discounted, six-month limitation, in addition to the typical 24-month limitation

The MLDI platform was created to fill demand and to offer employers and brokers a management system that provides a more efficient end-to-end digital offering that includes online enrollment, electronic policy delivery and implementation as well as billing and administration.

For more information, visit www. GuardianLife.com.

Life Insurance

IUL Insurance with Cash Growth Flexibility Launched

Lincoln Financial Group recently announced the latest addition to its broad suite of life insurance products, Lincoln WealthAccumulateSM Indexed Universal Life (IUL). Lincoln WealthAccumulateSM IUL provides clients the flexibility to achieve a wide range of financial goals as life changes, offering significant cash value growth opportunities and supplemental income through distributions, the company notes.

“As clients move through life’s stages, financial planning needs evolve, requiring solutions that can keep pace,” said Stafford Thompson, Jr., senior vice president of Life Product Management, Lincoln Financial Group. “With its significant growth and distribution potential as well as optional features, Lincoln WealthAccumulate IUL is a potential financial resource to use throughout life—from providing financial security for loved ones early on to paying college tuition or protecting a business in the middle years to planning for retirement or living benefits later in life.”

Cash value accumulation

With Lincoln WealthAccumulate IUL, clients can pursue cash value growth potential based on their long-term goals and downside protection preferences, with a choice of three indexed accounts. These accounts give clients the potential to earn interest up to a maximum cap based on the performance of the S&P 500 Index. Each account also gives clients an interest bonus for positive market performance. Clients have the freedom to allocate in one or all three account options:

• Perform Indexed Account—For those who want the most upside potential at an additional cost

• Balance Indexed Account —Offering a balanced approach to upside potential and downside protection

• Conserve Indexed Account—For those who prioritize guaranteed features with upside potential Even in a declining market, clients never face a market loss because each indexed account offers downside protection with a guaranteed minimum return, according to the company.

Throughout their lives, clients have the flexibility to change allocations to respond to different market conditions or their evolving needs. They also have the flexibility to access their policy’s cash surrender value at any time as a source of supplemental income for retirement or other needs and milestones.

“Life insurance can play a role in growing, protecting and passing on family assets as part of a well-rounded financial portfolio,” said Andy Bucklee, senior vice president of Insurance Solutions Distribution, Lincoln Financial Distributors. “Advisors have clients who are accumulating cash, nearing retirement or protecting their legacy, and Lincoln WealthAccumulate IUL is a flexible, transparent solution that can adapt to meet those needs.”

Added protections

In addition to offering the financial security of a death benefit, Lincoln WealthAccumulate IUL is available with Accelerated Death Benefits Riders (ABR), including Lincoln’s newest ABR, Lincoln LifeAssureSM, which has no upfront costs. These living benefit options provide a source of supplemental funds in the event of permanent chronic or terminal illness.

Lincoln WealthAccumulate IUL also offers several features designed to help business owners protect their business, their employees and their legacy, that include offering high early cash values through the Exec Rider and the Surrender Value Enhancement Endorsement. These features allow business owners to reposition current company assets to purchase life insurance while minimizing impact to the balance sheet, or provide collateral value to qualify for premium financing arrangements.

Lincoln WealthAccumulate IUL is immediately available through Lincoln’s national network of distribution partners (in states where approved).

For more information on the product, visit the Lincoln Financial Group website.