Since 1860, Guardian Life Insurance has helped consumers safeguard their loved ones. Its low costs and wide range of products secured it a place on our rankings of the best term life insurance companies as well as the most reasonably priced life insurance.
We also adore the fact that Guardian is an excellent option for seniors because it provides entire life insurance up to age 90.
Review of Guardian Life Insurance
- Advantages and Disadvantages of Guardian Life Insurance
- Guardian Life offers many life insurance options.
- Rates for Guardian Life Insurance
Advantages and Disadvantages of Guardian Life Insurance
The principal advantages and disadvantages of Guardian Life Insurance.
Advantages of Life Insurance
- Medical exam prohibitions: Guardian provides insurance up to $3 million without an exam to healthy candidates who are 50 years of age or younger.
- Policies for whole life that qualify for dividends: Guardian has been providing yearly dividends to policyholders since 1868, and in 2024, the company will pay close to $1.4 billion.
Disadvantages of Life Insurance
- Not able to apply online: Although the website offers a term life quotation, you will need to interact with a Guardian representative to make a policy purchase.
- Inadequate client support: Only on weekdays during regular work hours are agents available, which might make it challenging to file claims or obtain answers.
- No house or vehicle insurance: Although some insurance companies provide savings for purchasing several policies, Guardian does not provide such a service for life insurance.
Also Read: Farmers auto insurance assessment for 2024
Guardian Life offers many Life Insurance options
In addition to Washington, D.C., Guardian provides temporary and extended life insurance coverage in all 50 states. Individual product availability, however, may differ.
Insurance for long lives:
Term life insurance usually has a 10- to 30-year expiration date and is only good for that amount of time. Adults between the ages of 18 and 75 can purchase 10, 15, 20, or 30-year term life insurance from Guardian Life. The death benefit may be worth up to $5 million or $100,000.
A life insurance coverage with a funeral benefit of no more than three million dollars can be obtained without a doctor’s visit if you are in good health and under 50 years of age. No-exam coverage is capped at $1 million or less by some rivals.
There are age limitations on Guardian’s term insurance products. The minimum age to purchase insurance is 18, and they are accessible up to age 75 for 10-year plans and up to 55 years old for 30-year duration policies.
One unique aspect of Guardian insurance is the convertibility privilege, which allows policyholders to convert a term life insurance plan into a permanent policy during the first five years at no additional cost and without a medical check.
Whole Life Insurance
Whole life insurance plans, in contrast to term life insurance, last as long as your payments are paid. Additionally, they accrue cash value that you can access at any point throughout your lifetime to cover monthly premiums or as a withdrawal. The monetary value of your insurance may potentially be used as collateral for a loan.
While most insurers only provide new entire life insurance to those under the age of 75 or 80, Guardian offers whole life policies with an age restriction of 90. Policies begin at $25,000 in coverage.
All-inclusive life insurance
Similar to whole life insurance, universal life insurance is permanent and has the potential to increase in value. Although cash appreciation is dependent on the market and interest rates, premiums and payments are adjustable, so you’ll need to keep a careful eye on your insurance to make sure it continues to be in good standing.
Guardian provides both variable and regular universal life insurance, with the option to invest the amount of cash in stock market-linked subaccounts. Guardian offers universal life policies to applicants between the ages of eighteen and eighty-five.