Guardian Live Insurance Company: Facts Revealed

Guardian Live Insurance Company: Facts Revealed- If you are in search of a life insurance policy, that is best for you and your family. I am proud to tell you that your search has come to an end. This is because Guardian life insurance policy has you and your family covered.

Guardian Live Insurance Company: Facts Revealed

Guardian Life offers whole, universal, and term life insurance options to consumers. It provides individual life insurance to individuals and family. As well as investment management, disability and retirement planning and other types of insurance for individuals. Read on to get more insight about Guardian Life Insurance Company.

On this article;

Guardian Insurance Company Overview

Guardian Insurance is a nationwide company located in New York and has a history dating back more than 150 years. The insurance provider operates through a large network of licensed financial advisers and insurance agents. Offering a full range of financial services and products.

In addition to whole, universal, and term life insurance solutions. Guardian also provides investment management products and vehicles, annuities, disability insurance, employee benefits, and financial planning.

Guardian currently manages more than $71.5 billion in assets, collects more than $9.4 billion in insurance premiums across all products, and covers more than $637 billion in total life insurance for its policyholders. Here’s a closer look at what kind of life insurance coverage you can get from Guardian.

Pros

  • Because Guardian is a mutual company, Guardian customers with whole life insurance policies are eligible to receive dividends.
  • Guardian offers life insurance to healthy people living with HIV, under certain conditions.
  • Guardian offers a hard-to-find type of life insurance known as survivor-ship life insurance, which provides coverage for two people on one policy.

Cons

  • Guardian’s website, though informative about life insurance in general, provides few specific details about its actual policies.
  • It is hard to find information about the actual cost of the company’s life insurance policies.

Guardian Life Insurance

Guardian Life Insurance

Guardian offers your typical suite of life insurance products, including;

Term life

The simplest and cheapest policy, term life offers coverage for a set term —in Guardian’s case, 10, 15, 20 or 30 years. The premium you pay stays the same over your term. And if you die in that term, your beneficiaries receive a guaranteed payout based on your premium.

The policy comes with a conversion feature that allows you to upgrade to a whole life policy without a medical exam within a specified window.

Whole life

As long as you’re up to date on payments, whole life insurance policy never expires. Like term life, your premium won’t change though it will be more expensive.

A portion of each premium is invested to give your policy a cash value. Once you build sufficient value, you can take out loans against your own policy during your lifetime. And when you die, your beneficiaries receive your policy’s death benefit as well as an added cash value benefit.

Guardian’s whole life policies include potential dividend payments that depend on the company’s profits. To optimize your policy, take advantage of Guardian’s riders that can extend your protection into disability coverage, long term care and more.

Universal life

Universal life provides lifetime coverage and death benefits, becoming a cash asset over time.

You have more freedom to change your payments to suit life’s changing needs. This flexibility can be appealing if you foresee income fluctuations or are wary of committing to the same payment month in, month out.

You can also tap into the cash value of your policy during your lifetime, paying interest on what you borrow.

Variable universal life

Variable universal life insurance offers one key difference: You’re allowed to invest the cash value of your policy in the market. Investing gives you the potential to boost that value, but it also means your money is subject to the ups and downs of the market.

Offered by prospectus only, the policy includes a range of investment choices to match your risk tolerance.

Options for Guardian Term Life Insurance 

Guardian’s term life insurance has the following features and characteristics:

  • Available in 10-, 15-, 20- and 30-year terms.
  • Guaranteed level premium
  • Coverage amounts for a Guardian term insurance policy start at $250,000. Customers ages 18 to 40 are eligible for up to $1 million in coverage, while customers ages 40 to 50 are eligible for up to $500,000 in coverage.
  • Guardian life insurance customers must be at least 18 years old. Applicants up to age 75 are eligible for a 10-year term. Applicants up to age 70 are eligible for a 15-year term, applicants up to age 65 are eligible for a 20-year term and applicants up to age 54 are eligible for a 30-year term.
  • Guardian’s term life insurance can be converted to whole life, but doing so involves a conversion fee. Conversion is available for the first five years of the policy and can be extended with the extended conversion rider.
  • Death benefits are generally paid in a lump sum, although Guardian may make other options available at its discretion, including several different annuities.
  • For a term life policy, Guardian offers the following riders in certain states: extended conversion, waiver of premium, whole life purchase option and accelerated terminal illness.
  • Only guaranteed term policies are available.
  • Online estimates are available.
  • Term life policies from Guardian provide tax-free death benefits.
  • Other features include accelerated underwriting for customers ages 18 and 50, up to $1 million in coverage for customers up to age 40, and up to $500,000 in coverage for customers up to age 50.

Guardian Term Life Insurance Policy

The most popular policy type offered by Guardian Life Insurance is level term life insurance. The maximum policy amount is dependent on the income and financial circumstances of the applicant.

Guardian Term Life Insurance Policy

The term insurance option provided by Guardian Life Insurance is available for 10, 15, 20, or 30 years, and the premium amount is fixed for the entire term of the policy. When the term expires, so does the insurance coverage unless it is converted to a permanent life insurance policy beforehand.

Insured Requirements

All policies offered by Guardian Life Insurance require a full application that includes details about the insured’s residence, citizenship, income, assets, reason for insurance, and medical history.

Full medical underwriting must be carried out on the applicant to be approved for a life insurance policy. For this reason, Guardian’s approval rates are lower than insurance companies that offer no or simplified medical underwriting for a new life insurance policy.

Conclusion

Guardian is not well-known for its life insurance coverage, but instead for its disability insurance options and financial services. However, the company does offer whole, universal, and term life insurance options with full medical underwriting to consumers throughout the United States.

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