Guardian packages life, disability and long-term care in one product

Guardian has launched SafeGuard 360, a service tying together coverage for whole life, long-term care and disability.

Bill Eurbin, head of individual disability product management at Guardian.

The carrier developed SafeGuard 360 by focusing on underwriting needs for these different forms of insurance, according to Bill Eurbin, head of individual disability product management at Guardian.

“The one thing I think that is different for us in this product is that we look to really create a unified, underwriting and application experience,” he said. “So when we developed the language, we really had to develop something that was compliant with multiple sets of regulations, yet are combined into one product so I would say that is kind of the true genius behind Safeguard 360.”

Guardian began developing SafeGuard 360 before the Covid lockdown, by surveying and studying policyholder preferences. Its research found that products being sold individually was bothersome and sowed confusion about what coverage to get first. 

“There are reasons why insurance companies separate them because the regulations are different and everything, but we said we’re not here to follow the regulatory environment,” said Eurbin. “We’re here to really serve customers. And so we have to figure out a way to make this easier for them.”

With SafeGuard 360, Guardian now has a single product for the different types of coverage, but also “a single service concept,” Eurbin said. “If they ever have an event where they need to use the product, it’s a single phone number and you call it and that is policy owner services, it’s claims, it’s everything. You’re not going to be juggled between a disability insurance claims person versus a life person versus a long term care person. It’s going to be a single contact.”

Having combined coverages also helps support more comprehensive financial planning, according to Eurbin. Guardian’s research found that of those saying building a long-term financial strategy was a top priority, only one in three said they were good at following through with good habits to address that priority.

“The focus on the consumer is elevating this product,” said Eurbin. “Going out, listening to consumers, hearing what they’re saying, and then doing our best to break the traditional boundaries that regulations, insurance and insurance companies as a whole have set up to really emphasize that customer experience.”