Did Guardian change Cost of Living Rider

Message Author
ampm-bookmark
delicious-small Add to delicious
yahoomyweb-small Add to YahooMyWeb
blinklist-small Add to BlinkList
PostPosted: Wed Mar 12, 2014 5:14 pm   Post subject: Did Guardian change Cost of Living Rider  

I thought Guardian Disability Insurance Cola rider was tied directly to Consumer Price Index (CPI-U) and would move percentage wise (year to year) as CPI moved. Now I see where Guardian Disability Insurance offers a Cola rider with a fixed 3% increase - year in, year out. The company also offers a few other Cola rider options but all seem to offer the 3% base Cola increase non-withstanding what CPI does year to year. So did Guardian recently change their Cola Rider policy or was it changed years ago? If the policy has changed, can existing policy holders who got a Cola rider years back (based on CPI movement) now expect a 3% Cola increase year to year on their policy?



Just wondering if a Guardian policy holder with an older version of Cola rider (tied to CPI) can be grand fathered into new Guardian Cola Rider option with 3% (minimum) Cola increase year to year. Comments appreciated.


_________________
Register Now to have your Insurance queries solved.
Newbie11
Guest







PostPosted: Wed Mar 12, 2014 11:37 pm   Post subject:   

Quote:
I thought Guardian Disability Insurance Cola rider was tied directly to Consumer Price Index
Every policy, every rider, every endorsement, is defined in the writing that makes up the document. Guardian could have 50 different riders. 100 different riders -- 2 for each state.



Quote:
Just wondering if a Guardian policy holder with an older version of Cola rider (tied to CPI) can be grand fathered into new Guardian Cola Rider
If you are asking about something you own, then read what you have. If you are asking about what a company is selling, ask the company or one of its agents directly. No one here can answer your question if this is about your own policy until we've had a chance to read it.


_________________

CA-licensed Life & Disability Analyst. CA Insurance Lic #0596197. Also investigating insurance company abuses, and providing litigation support/expert witness services. Send me your questions, and I'll send you my answers.
MaxHerr
Forum Expert
Leave a quick message

MaxHerr
Forum Expert

Joined: 29 Nov 2009
Posts: 7888

Location: Pomona CA
107.59 Dollars($)

Quick Reply
Your Name
Subject
Message body
All times are GMT
Page 1 of 1


Get a Quote
Ask Community Experts

flash plugin

Quick Links

Must See

Community

Hot topics in forums

Latest in blogs

    Connection Error: Connection refused