Guardian Life Insurance – Protection When You Can't Be There
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Guardian Life Insurance offers several life insurance products that can be customized with riders and coverage amounts that meet your needs.
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Life insurance is one of those things that you hear about sometimes but may not have ever gotten around to considering. The National Association of Insurance Commissioners states that “shopping for the right coverage can be intimidating.” Though it may seem like something that’s “only for rich people” or something that doesn’t need to be thought about until years later, it can be quite important for many families.
When considering life insurance products, finding the company and the policy that can meet your needs is best. Here’s what you need to know about The Guardian Life Insurance.
In this article
What is The Guardian Life Insurance?
Guardian Life Insurance Company of America was founded 1860 more than 160 years ago. Today, it is one of the largest mutual life insurers in the world.
Life insurance is an insurance policy you (or any other policyholder) can purchase from insurers. The policyholder pays the insurance company a fee (otherwise known as the premium) to keep the policy active. In return, the insurance company guarantees to pay the beneficiary a specified sum after the insured person (usually the policyholder) dies. The beneficiary is the person or organization (such as a charity) that the policyholder has chosen to receive the death benefit of the life insurance policy.
Up to $2 million in coverage
- Get covered in 5 minutes.
- 95% of customers approved.
- No Hassles. No Gimmicks. Easy Application.
- Non-Commissioned Agents.
- Ages 20+
- 100% Online Application.
- Fast Coverage.
How does The Guardian Life Insurance work?
As with any life insurance product, you’ll first want a quote. Getting a quote is the best way to compare coverage options and pricing to choose the best plan for your needs. You can begin the process by navigating the life insurance page on the Guardian’s website.
There, you can input information to get a quote
After you click on the “get my quote” button, you’ll be taken to a page where you can play around with different coverage options. Based on your answers, Guardian will suggest a term (the length your policy will last) and a coverage amount.
Based on what the Guardian has suggested for me, the quote that I received was:
Once you’ve found the policy options that meet your needs, the next step is to speak with a financial representative. All you need to do is submit a form with your contact information to request a call or email from an insurance agent. You can choose whether you’d prefer a call or an email, as well as the best time to call you if you choose to be contacted by phone.
How much does Guardian life insurance cost?
It’s difficult to accurately predict most insurance policies' cost, including life insurance policies. The cost of your policy will depend on several factors, including:
- Personal factors include your age and gender.
- Your health history, including whether or not you are a smoker.
- Anything that might put you at risk, such as a job that puts you in harm’s way or hobbies that involve potentially dangerous activities.
- The type of life insurance policy you choose.
- The coverage amount you choose for your life insurance policy.
- Any additional riders or features you add to the policy.
Generally speaking, your life insurance policy may be less expensive the younger and healthier you are. Term life insurance also tends to be the more affordable option among life insurance options because it only covers policyholders for a certain period of time rather than indefinitely.
Fortunately, there are some ways that you may be able to save on your life insurance policy. You can consider purchasing a policy when you’re young and healthy instead of waiting until you’re older to lock in a lower rate when you purchase the policy.
You should also be aware of what you need in your policy to ensure you have enough coverage, but not so much that you’re paying more money than you need. There may also be the opportunity to get a lower rate if you make a positive lifestyle change after purchasing your policy. For example, if you were a smoker when you purchased your policy but quit smoking a year or two later, you can reach out to your insurance company to see if lowering your premium is possible.
Up to $2 million in coverage
- Get covered in 5 minutes.
- 95% of customers approved.
- No Hassles. No Gimmicks. Easy Application.
- Non-Commissioned Agents.
- Ages 20+
- 100% Online Application.
- Fast Coverage.
Guardian life insurance features
Guardian offers a few different types of life insurance. Each option offers unique benefits, so it’s important to understand the differences before choosing a life insurance policy.
Term life insurance
Term life insurance is usually considered to be the most affordable life insurance coverage option. It offers temporary coverage for a set period of time, which is the term of the policy. Term policies are available in a term that can last anywhere from one to 30 years. If the policyholder passes away during that term, the beneficiary will receive the benefit amount if the policy covers the cause of death. When the term ends, the coverage expires. So, if the policyholder is still alive when the term ends, they must purchase a new life insurance policy. Policyholders may also be able to transition from a term life insurance policy to a permanent life insurance policy.
Benefits of term life insurance
Term life insurance policies do indeed expire at some point. Even so, there are many benefits to consider. Guardian offers term periods of 10, 15, 20, and 30 years. You can choose the length of coverage that makes the most sense for you and your family. In most cases, term life insurance premiums remain the same throughout the entire length of the term.
You may also be able to customize your term life insurance policy by adding additional features to the policy. Guardian offers the option to add a feature that will allow you to convert your term life insurance policy to a permanent one. You can also choose to add a feature that would allow you to pause your premium payments if you are unable to work due to injury or illness.
Whole life insurance
Whole life insurance is exactly what it sounds like. This policy is permanent life insurance, meaning it will cover the policyholder for their entire life. This type of permanent life insurance offers a fixed premium for the entire length of your policy, meaning that the cost of your premium will never change.
An important difference between term and whole life insurance is that whole life insurance includes a savings component, known as the policy's cash value. When you make premium payments, part of each will go toward your policy's cash value. The tax-deferred cash value will continue to accumulate over time. Then, if you need extra money, you can withdraw from or borrow against your policy's cash value.
Guardian’s EstateGuard Whole Life Insurance is a survivorship policy because it is commonly used by married couples who want both spouses covered by a single policy.
Related: How to Buy Whole Life Insurance
Benefits of whole life insurance
Although it may come with a higher premium, whole life insurance has benefits. The cash value is a huge benefit, especially because it is tax-deferred and can be used. You may be able to take out a low-interest rate loan against your policy for any reason without it being considered a taxable event. You can even add a rider that will continue to fund your policy and grow your cash value, even if you become disabled. Guardian’s life insurance policies also come with dividends paid to its policyholders.
Universal life insurance
Universal life insurance is another type of permanent life insurance. One of the biggest differences is that, unlike a whole life insurance policy, the premium of a universal life policy may change throughout the policy's lifetime. In some cases, this flexible premium cost may cost less in the long run than a whole life insurance policy. Universal life insurance policies also don’t pay dividends like whole life insurance policies.
Benefits of universal life insurance
Universal life insurance provides lifelong coverage for the policyholder and their beneficiaries. These policies come with cash value, which you can borrow against to pay for your policy or cash out if you surrender your policy. The flexibility in payments does open you up to some risk of unpredictability, but it can also be a good way to manage your budget if you need to lower your premium payments for some time.
Guardian allows you to add riders to enhance your universal life insurance policy’s coverage. This includes a rider to add long-term care as you age and to extend coverage to your spouse.
Who is Guardian life insurance best for?
Young people considering coverage
If you’re looking for an affordable life insurance option, Guardian makes it simple to review your options and find the best policy. Its term life insurance tools allow you to compare options and view pricing without leaving your computer or speaking to another human.
People who are interested in purchasing other products as well
Guardian offers more than just life insurance products. It also offers health insurance products such as dental and vision insurance and retirement products such as annuities and IRAs.
Who shouldn’t use Guardian life insurance?
People who get life insurance coverage through their employer
Some employers may offer life insurance benefits. Before you purchase any policy on your own, you should check with your employer to see if they offer life insurance policies to employees. Often, enrolling in a group plan through your employer can help you get a lower premium.
People who don’t need to protect anyone else financially
Life insurance provides financial aid to those left behind after a policyholder passes away. It sounds grim, but if your death would not cause anyone else financial hardship, you may not need life insurance at all.
Up to $2 million in coverage
- Get covered in 5 minutes.
- 95% of customers approved.
- No Hassles. No Gimmicks. Easy Application.
- Non-Commissioned Agents.
- Ages 20+
- 100% Online Application.
- Fast Coverage.
Pros and cons
Pros
- Guardian offers several types of life insurance policies. Whether you know what you want or want an expert to walk you through the options, you’re sure to find what you need.
- Guardian offers more than life insurance, making it easy to keep multiple policies and products in one place with a company you trust.
Cons
- Some life insurance policies require a medical exam. If the policy that you’re applying for requires it, you’ll have to undergo the exam during the application process.
- If you decide that you want to cancel your life insurance policy, you’ll need to contact an agent to do so. There is no option to cancel your life insurance policy online.
The Guardian Life Insurance vs. competitors
Company | Life insurance products offered | Other products offered | Quote process |
The Guardian Life Insurance | Term, whole, universal | Disability insurance, dental insurance, vision insurance, accident insurance, critical illness insurance, cancer insurance, hospital indemnity insurance, annuities, IRAs, investments | You can view estimated quotes for term life insurance online; for others, you must speak to an agent. |
New York Life Insurance Company | Term, whole, universal, variable | Annuities, mutual funds, ETFs, 529 plans | You can fill out a form and wait for a response from a local agent. |
MassMutual | Term, whole, universal, variable | Disability income insurance, long-term care & life insurance, annuities, IRAs, mutual funds, exchange-traded funds, Fortuna by MML investors, unit investment trusts, 529 plans | You can fill out some basic information to see MassMutual’s suggestions, but you must contact a financial professional to get your full quote. |
New York Life Insurance Company
New York Life Insurance Company has been around for over 175 years and prides itself on its financial strength. It offers term life insurance, whole life insurance, and universal, and variable universal life insurance policies to meet every need. While you can’t get an immediate quote estimate, the company’s website does provide information about the options and the ability to send a contact request form to its agents.
New York Life Insurance Company also offers products that aren’t life insurance. This includes retirement products such as annuities, mutual funds, and long-term care insurance. According to the company’s website, you can connect with a financial professional to customize a solution that fits your needs.
MassMutual
MassMutual offers various products, including disability income insurance and annuities. Its life insurance policies include term, whole, universal, and variable life insurance. For additional protection, MassMutual also offers disability income insurance and long-term care & life insurance. You can also purchase brokerage and investment products, such as annuities and an individual retirement account (IRA) from MassMutual.
To sign up or get more information about any of MassMutual’s products, you can fill out a form on the website. Or, if you’d prefer, you can search for a financial professional that is local to you and contact them directly.
FAQs
Is Guardian Life Insurance a good company to purchase from?
Guardian has many years of experience under its belt, as well as awards and accreditations. Guardian’s teams have been recognized by DALBAR and J.D. power for its exceptional customer service. It has a Better Business Bureau (BBB) rating of A.
Who needs life insurance?
Anybody who has others that rely on them financially could use life insurance. This can include spouses, children, and even adult dependents.
What types of policies are available?
Guardian Life provides term life policies and whole life policies and is one of the best life insurance companies with an A (excellent) rating from AM Best.
Up to $2 million in coverage
- Get covered in 5 minutes.
- 95% of customers approved.
- No Hassles. No Gimmicks. Easy Application.
- Non-Commissioned Agents.
- Ages 20+
- 100% Online Application.
- Fast Coverage.
The bottom line
Although not the most talked about insurance product, life insurance can be crucial for many families. The Guardian Life Insurance (also known as Guardian) offers several life insurance products that can be customized with riders and coverage amounts that meet your needs. Getting a quote from the Guardian is relatively straightforward, especially if you’re shopping for a term life insurance policy. All you need to do is enter a few basic pieces of information and review your coverage options or submit a contact form to hear from a financial representative who can assist you.
Picking the right company for your life insurance policy is as important as the policy itself. Fortunately, Guardian has proven its financial strength and stellar customer service, winning awards and ratings over the years. This insurer is a worthy option, even if you’re only at the stage of reviewing your life insurance options.
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Writer
Sara Coleman is a former corporate gal turned creative entrepreneur. She began writing professionally several years ago and now contributes to multiple websites, blogs, and magazines. She’s also an avid reader and can’t resist a great historical fiction novel. Sara holds a BA in journalism from the University of Georgia and can be found supporting her Bulldogs every chance she has. She resides in Charlotte, North Carolina, with her wonderfully supportive husband and three children. When she’s not ushering her kids to sports and dance lessons, she can be found creating content for her own website, TheProperPen.com.
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