The underwriter and administrator of all ADA-sponsored insurance coverage is Great-West Life & Annuity Insurance Company. Headquartered in Greenwood Village, Colorado (a suburb of Denver), Great-West Life and its 8,200 employees serves almost five million Americans through a full range of managed care, life and disability insurance, annuities, and retirement and savings plan services. Approximately 140,000 ADA members and their families rely on ADA-sponsored group insurance from Great-West Life every year.
When you purchase insurance, you rely on that insurance to be there when and if you ever need it. Great-West Life was founded in 1891 and has been a reliable, reputable insurer for more than a century; our 70-year track record with the ADA speaks for itself, and instills confidence that Great-West Life will be here long into the future, too. The security and consistency that comes from our long-term ADA relationship is not typical, especially in today's volatile insurance marketplace, and it's something we are particularly proud of.
| Rating | Source | Description |
| A+ | A.M. Best | Superior (highest of 10 categories) for financial strength, operating performance, and business profile |
| AA+ | Fitch, Inc. | Very strong (second highest of 9 categories) for financial strength |
| Aa3 | Moody's Investors Service | Excellent (second highest of 9 categories) for financial strength |
| AA | Standard & Poor's | Very strong (second highest of 9 categories) for financial strength |
Great-West Life's ratings, effective January 2006, do not apply to the performance of the 401(k) investment options.
Great-West Life consistently receives high marks from external ratings services, which are a standard measure of a company's overall strength and claims paying ability. Our corporate philosophy, financial strength, and ability to provide exceptional insurance are what prompted the ADA to partner with Great-West Life in 1934, and has allowed the ADA Insurance Plans to expand through the years.
With combined assets of about $35 billion, Great-West Lifeco (the parent company of Great-West Life) ranks as the fifth largest life insurance enterprise in North America. In 2003, over $81 million in benefits were paid to ADA members participating in the ADA Insurance Plans administered by Great-West Life, or to their dependents and beneficiaries. Learn more about Great-West Life at www.gwla.com.
Your needs as a practicing dentist, small business owner, and provider for your family are unique. In fact, nobody understands dentists quite like the ADA — the oldest and largest professional association for dentists in the world. Each one of the five ADA Insurance Plans was created with dentists in mind, designed specifically to help you meet your personal and professional objectives for financial security.
The goal of the ADA Insurance Plans is to provide insurance protection that can not only safeguard your family and business, but also grow and change with you over time. Coverage includes numerous features that dentists want and need, including yearly renewable coverage that you can keep throughout your career and, depending on the policy, even into retirement. Five important elements — low minimums, small incremental units of coverage, high maximums, long renewability periods, and a wide choice of benefit options — together enable you to tailor your Great-West Life coverage to your particular circumstances and financial goals. And because you have the ability to modify your coverage over time, it can continue to keep pace with your growing and changing needs and objectives. We know from experience that the flexibility of this "building block" approach is very important to — and very much appreciated by — many dentists.
Options on most Plans allow you to further tailor your coverage based on your risk tolerance, personal and/or business circumstances, and insurance budget. Subject to underwriting approval, you can establish a portfolio of ADA-sponsored insurance that provides appropriate insurance protection for today — and then change that portfolio over time.
Our staff looks forward to the opportunity to help you. At Great-West Life, a single, exclusive business unit handles all aspects of ADA Insurance Plans administration, from sales and service to underwriting and claims. Many of our staff members have been with the ADA Insurance Plans for more than 20 years, which translates into experienced and professional service for you.
For straightforward answers to your questions about insurance, or for help assessing your situation, an ADA Plan Specialist can provide objective information, including a free no-obligation consultation. Because our Plan Specialists don't receive sales commissions, you won't ever have a rushed, high-pressure sales experience. In fact, you will receive objective assistance to help you develop the most suitable and cost-effective insurance program that addresses your particular requirements and goals.
Client Service Representatives are also available to answer your questions about existing coverage, premiums or billing, beneficiary assignment, claims, or even to change your address. The administration and management of the ADA Insurance Plans is handled by Great-West Life staff who deal exclusively with ADA members, which means you have direct access to the most knowledgeable, efficient resource for information or assistance. Click here for ways to contact us at your convenience.
The partnership between the ADA and Great-West Life dates all the way back to 1934. Our relationship has grown over the years, but the core mission has remained the same: to provide ADA members with access to quality group insurance at an excellent price.
All insurance sponsored by the ADA is offered as an exclusive benefit of membership, which means only ADA members are eligible to apply for coverage and participate in the ADA Plans. The volume buying power of the ADA helps ensure affordable and competitive premiums, and low administrative costs from Great-West Life (typically less than 9% annually) also contribute to your low cost of insurance.
The ADA sponsors all coverage on a not-for-profit basis, meaning the Association does not profit financially from the sale of any insurance. (In fact, it's the members themselves who benefit; when a Plan has favorable experience, surplus is returned to member participants in the form of Premium Credits.) No endorsement fees or royalties are paid to the ADA; the absence of such fees and commissions in ADA-sponsored insurance helps keep ADA premiums to a minimum, and also helps reinforce ADA objectivity.
The ADA Council on Members Insurance and Retirement Programs oversees the operation of the ADA Insurance Plans. The Council reviews Plan experience, considers policy enhancements, and ensures that the Plans provide the best possible value to members as a benefit of ADA membership.