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Multi-Life - Guaranteed Standard Issue (ML)

The Provider Choice 18GI (Multi-Life) is an individual product line that is able to be offered on a Guaranteed Standard Issue (GSI) Basis in certain employer sponsored scenarios.   For rider and feature information please see the Provider Choice Product Page

Why Multi-Life 18GI GSI
How Multi-Life GSI Works
Types of Multi-Life Offerings
Minimum Requirements for GSI
Multi-Life GSI Enrollment Services









Why Multi-Life Provider Choice 18GI GSI:

Most companies today provide their employees with Group Long Term Disability (GLTD) Coverage.  These plans are easy to implement and typically provide a base amount of income protection at competitive group rates.  However, Group LTD Plans have many limitations that can result in inadequate income replacement, especially for top earners:

  • GLTD plans have a monthly benefit "cap", that may not adequately cover the highest income earners.  As a result, key employees may be subjected to "reverse discrimination" and not protected to the desired 60% income replacement level
  • Most GLTD Plans cover salary only - so bonus and commission income are typically not covered
  • Benefits are usually taxable as income, which significantly reduces actual benefit received

Employers who are looking to enhance their disability benefits without effecting the underlying Group LTD Coverage, may want to consider a Supplemental Income Protection Plan (SIPP) through Guardian.  The plans provide the opportunity to significantly enhance disability coverage, either on an employer-paid basis for key employees, or on a voluntary basis.  This coverage is available on a Guaranteed Standard Issue basis - so there is no medical underwriting required and just a few simple questions to qualify, provided that the employee group is approved for such an offer. 

Benefits for the Employer:

  • Flexible structure: Can be employer paid, voluntary (employee paid) or combination of both
  • Opportunity to reward key employees without having to increase salary or bonus structure
  • Can provide greater coverage without increasing the risk or volatility of your Group LTD plan
  • Turn key implementation with customized company branded communications

Benefits for the Employees:

  • Individual owned high quality policies with a discounted gender neutral rate structure
  • Guarantee Standard Issue - no medical underwriting required
  • Benefits optimized for each employee's needs
  • Policy is fully portable with fixed rates to age 65 or 67

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How Multi-Life GSI Works:

The census of the company is reviewed by an underwriter.  Provided the risk of the group as a whole looks favorable and the group as a whole is under insured, an offer will be made to eligible white collar and professional employees making at least $75,000 a year.  The offer will contain the definition of disability, list of riders, the maximum benefit amount.  Any coverage requested above the maximum GSI offer will be fully underwritten.

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Types of Multi-Life Offerings:

  • Supplemental Income Protection Plan(SIPP): Refers to any multi-life offering supplementing the underlying group LTD monthly disability benefit.  These plans can be Employer Paid or Voluntary which are defined below.

  • Voluntary Income Protection Plan (VIPP): refers to any SIPP offering where the multi-life coverage is offered on a voluntary basis to eligible employees.

  • Executive Carve Out (Mandatory/Employer Paid): refers to any SIPP offering where the multi-life coverage is paid by the employer on a class of eligible employees. 


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Minimum Requirements for GSI Consideration:

  • For Employer Paid (Executive Carve Out) a minimum of 5 lives (Ages 18-60) making $75k or more a year.

  • For Voluntary (Employee Paid) a minimum of 75 eligible lives making at least $75k a year.

Note: for medical occupations only, GSI offers are only made to W2 employees that own 10% or less of the business.  Any owners that are not W2 or have an ownership greater than 10% will be ineligible for a GSI offer within the group.  If issuing just the RPP benefit, then the ownership amounts are not taken into consideration in evaluating for a GSI offer.  GSI offers are not made to dental occupations.  Ten life minumum for medical occupations.

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Multi-Life GSI Enrollment Services:

Getting the message out is the main factor that will determine if the enrollment at your company is successful.  Our enrollment services are included with most offers.  Demo of the online enrollment system.

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|H|Multi-Life Product Page Outline:|H|

Why Multi-Life ProVider Choice 18GI GSI
How Multi-Life GSI Works
Types of Multi-Life Offerings
     -Supplemental Income Protection Plan (SIPP)
     -Voluntary Income Protection Plan (VIPP)
     -Executive Carve Out (Mandatory/Employer Paid)
Minimum Requirements for GSI
Multi-Life GSI Enrollment Services


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Financial Representatives of the Guardian Life Insurance Company of America (Guardian), New York, New York. First Financial Group is an independent agency authorized to offer products of The Guardian Life Insurance Company of America (Guardian), New York, NY and its subsidiaries and is not an affiliate or subsidiary of Guardian. The Guardian® Logo is a service mark of Guardian, used with permission. Guardian, its subsidiaries, agents, and employees do not provide tax, legal, or accounting advice. Consult your tax, legal, or accounting professional regarding your individual situation. This website contains the opinions of the author but not necessarily those of The Guardian Life Insurance Company (Guardian), New York, NY or its subsidiaries and such opinions are subject to change without notice.  Important Disclosures:  Terms and Conditions    Privacy Policy

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