Disability Insurance: Guardian Benefit Purchase Rider
Feb 4, 2013
Jamie Fleischner

Jamie Fleischner

4 Feb, 2013

Benefit Purchase Rider-Guardian

The benefit purchase rider from Guardian on the Provider Plus Limited product allows you to increase your disability policy without any medical underwriting. When the policy is increased, a new, separate policy will be issued for the increased amount. That premium will be determined based on your current age, state where you live and current occupational class. If you have a discounted policy on the base policy, the increased benefit may not be at the discounted rate if you are no longer at the same employer.

There are a few ways that you may increase your policy with the Benefit Purchase rider:

1)      If you have had more than a 50% increase in income (such as graduating from medical residency or dental school), you may increase your policy at that time to reflect your new income. This is referred to as an “advanced purchase.”

2)      If you purchased your policy as a supplemental policy because you had a group policy and either no longer have the group policy or now work at a place that does not have a group policy, you may adjust your policy using the advanced purchase option.

3)      Every three years, Guardian will contact you requesting financial information. It is imperative that your submit your financial information back to them so you do not lose the benefit update rider on the policy. Set for Life will also send you a reminder email. The letter states something similar to the following:

What you need to do:

  • If your income has either decreased or increased by less than 10% over the last 3 years, complete and return the attached form. No financial documents are necessary.
  • If your income has increased by more than 10% over the last 3 years or any other inforce disability coverage has changed, complete and return the attached form and include financial documentation (pay stub, W-2 or tax return).

What happens next:

  • The information will be reviewed.
  • If you are eligible for an increase, you will be notified of the benefit amount available and the cost to accept the increase.
  • You will have the option to accept all or a portion of the benefit increase. If you decline the increase or accept less than 50% of the benefit amount, the rider will be removed from your policy.

Please read your policy for more detailed information

 For more information about the benefit update rider on your disability insurance policy with Guardian contact Set for Life Insurance today!


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Getting the right disability insurance can be downright confusing. At Set For Life, we'll help you understand the options and work with you to select just the right product for you and your family. These articles will help you understand some of the complexities involved, but we're happy to walk you through it! If you're ready to get set, reach out for a quote today!