Guardian Long Term Care Insurance Discount Now Available to Employer Groups, Associations

NEW YORK, July 12 /PRNewswire/ -- Members of approved employer groups and associations will now be able to purchase long term care insurance from The Guardian Life Insurance Company of America (Guardian) at a 10 percent permanent premium discount through its wholly owned stock subsidiary, Berkshire Life Insurance Company of America (Berkshire).

Under the new program, the following organizations may qualify to offer a 10 percent premium discount on Berkshire's Care ProVider policy to their employees or members:

  * Any business entity with three or more employees;

  * State, regional, county or municipal associations with 100 or more
    members; and

  * Associations, labor unions, credit unions, and trade or professional
    organizations with 10 or more members.

"By entering the employer- and association-sponsored market with this discount program, we have created an opportunity for Guardian producers to get in front of business decision makers," observed Berkshire's Donald R. Campfield, National Sales Director, Long Term Care Insurance (LTCI).

"Not all of our producers are necessarily in the business or benefits market; the widely appreciated need for long-term care bridges those markets. It brings an individual product into a worksite application."

Introduced last year, the Care ProVider policy offers a number of competitive features, including:

  * A choice of reimbursement or indemnity policies, including a Personal
    Caregiver Rider for informal, non-professional caregivers;

  * Joint coverage for any two members of the same household with up to a
    70% discount on the lower-age policy and a built-in joint waiver of
    premium retroactive to the first day of claim;

  * Flexible premium payment options, including 10-Pay and Paid Up at 65;
    and

  * Return of premium to a named beneficiary, with the ability to designate
    a third-party policy owner.

  Competitive Edge

Berkshire's long term care insurance specialists believe that the new discount program will only accelerate the positive sales momentum generated by last year's launch of the product line.

"The employer- and association-sponsored market is the fastest-growing segment of the long term care market," noted Berkshire's Kenneth E. Murrell, 2nd Vice President, Product Marketing and Research. "I wouldn't be surprised if eventually 20 to 25 percent of our Long Term Care Insurance business stems from this discount program."

Guardian's career agency system has embraced the Care ProVider offering, he added, as evidenced by the higher-than-expected numbers of field representatives who have participated in Berkshire's comprehensive producer training and certification program, a requirement to sell the product.

"LTCI is a new line of business for Guardian, and training is critical to ensuring that our field representatives are confident and knowledgeable advisors for their prospects," Campfield, the National Sales Director, noted.

"We originally planned for about 700 of Guardian's producers to go through our certification program; at last count, we're up to 1800."

In addition, Guardian GAs nationwide have signaled their strong commitment to the new LTCI offering by appointing in-agency LTCI Specialists to provide local sales support and service for Care ProVider cases. This replicates the highly successful Disability Income Specialist model forged by Guardian and Berkshire in support of their Individual Disability Income product line. Currently, LTCI Specialists are located in 50 Guardian agencies nationwide- nearly two-thirds of the total.

About Guardian

Founded in 1860, The Guardian Life Insurance Company of America, New York, NY (Guardian) is the fourth largest mutual life insurance company in the United States. As of December 31, 2004, Guardian and its subsidiaries had $39.5 billion in assets. With more than 5,000 employees and 2,900 financial representatives, as well as over 80 agencies nationwide, Guardian and its subsidiaries protect individuals, businesses and their employees with life, disability, health and dental insurance products, and offer 401(k), financial products and trust services. More information about Guardian can be obtained at http://www.guardianlife.com/.

About Berkshire

Berkshire Life Insurance Company of America, Pittsfield, MA, is a wholly owned stock subsidiary of The Guardian Life Insurance Company of America, New York, NY. Its key missions are to grow Guardian's disability income line of business and to research and develop new insurance products, including long term care insurance.

Care ProVider Long Term Care Insurance Policy Series BG0IP (06/04) et.al. underwritten and issued by Berkshire Life Insurance Company of America, Pittsfield, MA, a wholly owned stock subsidiary of The Guardian Life Insurance Company of America, New York, NY. Products not available in all states. Product provisions and features vary from state to state.

  Contacts:
   Wendy Webster Coakley                   Jackie Kanas
   Berkshire Life Insurance                Guardian Life Insurance
   Tel: 413.395.4467                       Tel: 212.598.1554
   Fax: 413.395.5986                       Fax: 212.919.2790
   wendy_coakley@berkshirelife.com         jacqueline_kanas@glic.com