The Guardian Life Insurance Company is financial protection and insurance company that focuses on helping companies and families. They break down their services as planning for family, finances, business, and retirement and they provide several types of protection products related to these categories, including life insurance, disability income insurance, annuities and investments, individual dental insurance, workplace benefits, and 401(k) plans.
Guardian is a mutual insurance company, which means their company is owned by the policyholders who receive annual dividends from Guardian's profits. Guardian's focus and stated responsibility are to the clients and policyholders and this is reflected in their investments and commitments. Guardian began operating in 1860 and has over 150 years of solid experience and history.
Guardian offers three types of insurance policies: term, whole, and universal: Term Life
Guardian clearly presents the benefits of each policy type and explains how each policy type generally works. The website is clear, direct, and easy to navigate without extra advertisements or promotions to distract. Guardian is also pretty transparent about its products, services, and overall company values.
One of the advertised benefits of Guardian is that as a mutual life insurance company, their priority is to their clients. This affects the ways they conduct business, how they invest and their long-term goals. It also makes whole, universal, and variable life policyholders eligible for annual dividends. While the dividends are not guaranteed, they can be used to repay policy loans, purchase additional insurance, reduce premium amounts, or simply provide a cash payment to the policyholder.
Guardian has several riders that can be added to the various policies, including a living benefits rider that does not increase the amount of the premium. This rider stipulates that if the policyholder becomes terminally ill, he/she can access up to 80% of the death benefit depending on the specific circumstances and policy.
Guardian provides customers with several reliable ways to contact their customer service departments, including a general customer service phone number and mailing address. For life insurance questions and concerns, they provide:
Guardian's pricing is a little higher than many other insurance companies provide. The exact amount will depend on the policy holder's current health (including body mass), health history, and the results of a medical exam.
While Guardian Financial offers a number of quality products and services, there are some limitations to their life insurance platform. Prospective clients should be aware of the following items prior to enrolling in their insurance program:
While Guardian's website is clear and easy to navigate, they do not provide specific information about pricing, exclusions, fees, or riders for any of their life insurance policy types, nor is there a FAQ page. Potential customers must contact Guardian or find a financial representative in their area to receive a quote or have their questions answered.
There are only two main exclusions to each life insurance policy:
Guardian offers a Long Term Care rider that includes the accelerated living benefits, and this can be added to a life insurance policy instead of being a separate policy. However, this is not built-in and will cost the policyholder an extra premium. It is also not generally available and can only be added to certain types of whole life policies. Because a variable policy gains cash value through investments in the market, there is both the potential for an increase in the value if the market rises, but the policyholder will also take on all the risks associated with investing in the market. If the market goes down significantly or consistently, policyholders run the risk of losing the original invested amount.