You may have seen an ad or got a recommendation from a friend to check out Guardian Life Insurance company and are wondering are they a good fit for you. Well, you have come to the right place since here at InsureChance we work with over 60 top rated companies and have a vast amount of knowledge to decipher whether the company is strong enough to protect your loved ones. Figuring out if a company is right for you depends on a few different factors like your overall health, pricing, company reputation and anything else you may find important. We did compile a list of the best life insurance companies in the U.S., so feel free to check it out. If you’re ready for an unbiased review of Guardian let’s jump in but for those who just want a straight summary read it below:
Disclaimer: We don’t work with Guardian Life Insurance Company
- Guardian Life Insurance Company can be traced back to 1860.
- Similar to other large life insurers, Guardian Life likes to give back to the community.
- They sell Term life, Whole life, Universal life, and Variable Universal life. They also sell other products and services such as Disability income insurance, Annuities, Wealth management, and 401k plans.
- This past year they ended with $7.4 billion in capital and $66.4 billion in assets under management. It’s good to know the company’s financials just to make sure they have enough cash flow to pay out your policy.
- A.M. Best Rated them “A++” or superior, which is the highest rating of 15 ratings and is pretty amazing considering not many companies are able to attain this rating. Fitch and Standard & Poor’s both gave them an “AA+” rating and Moody’s gave Guardian Life an “Aa2”.
Guardian Life Insurance Company Review 2017
Guardian Life is one of the oldest life insurers in America, they have traces going as far back as 1860. For over 150 years they have become very well-known and also one of the largest companies in the country, they have over 5,000 employees. They sell Term life, Whole life, Universal life, and Variable Universal life. They also sell other products and services such as Disability income insurance, Annuities, Wealth management, and 401k plans. This past year they ended with $7.4 billion in capital and $66.4 billion in assets under management. It’s good to know the company’s financials just to make sure they have enough cash flow to pay out your policy. According to A.M Best, they have rated Guardian Life an “A++” or superior, which is the highest rating of 15 ratings and is pretty amazing considering not many companies are able to attain this rating. Fitch and Standard & Poor’s both gave them an “AA+” rating and Moody’s gave Guardian Life an “Aa2”. These are some pretty high ratings but don’t let that be the only reason to buy a product from them. Just remember that there are many other life insurance companies with high ratings.
Why you should read a company’s rating
Most individuals don’t realize how important a company’s rating is to their decision. A life insurance companies strength should always be gauged first by their financial health and everything else after. The reason for this is that it demonstrates their claim paying ability if they were to get an influx of claims at one time. If the carrier has low cash reserves or bad investment decision a lot of claims can put them out of business and put your family into a bad predicament. The great news is that there are many rating agencies and it is quite common for a company to have many grades from them. If a carrier has overall strong ratings from 4 or 5 of this rating agencies it is a very positive signal. So before jumping in either you or your agent do their research to find out exactly what the company represents in terms of their financial durability.
Guardian Life Insurance Company’s Products
Just like we mentioned before, Guardian Life offers Term life, Whole life, Universal life, and Variable Universal life. Luckily, Guardian Life offers both term life and permanent life insurance which is good because as a company you want to make sure you are feeding to all different kinds of people and some may want short-term insurance or others may want long term insurance. Either way, Guardian Life’s got your back!
- Term Life Insurance: Term life is a form of temporary life insurance that only provides coverage for a short and specified period. Again, this is perfect for those who only need life insurance to fill in those short-term needs. Since this is a short-term policy you will need to choose the length of your coverage such as 10, 15, 20 or 30-year policy terms. After your policy expires you will either have to renew the policy, which will increase your premiums drastically, or you can switch over to a permanent life insurance policy.
- Whole Life Insurance: Whole life is a form of permanent life insurance in which provides you with a lifetime of coverage. A whole life policy is more expensive than a term policy but on the bright side, it holds cash value even when you are alive. Since Guardian Life is a mutual company, you have the potential for extra growth. You will be receiving level premiums which means that your premiums will never move, it will stay the same throughout your entire life so you never have to worry about your premiums getting more expensive as you age. There is also a guaranteed minimum death benefit and a stated rate of growth.
- Universal Life Insurance: Similar to any other form of permanent life insurance but with a lot more flexibility with premiums or cash value options. This type of plan is usually available to protect you until age 100 or age 121. It also has a more potential for cash value growth than a whole life but of course, more risk when the markets are not doing well. Universal life can be a great plan if you monitor it yearly and make your premiums on time because it can lapse if the market is not performing ideally and you dind’t make adjustments to your rates.
- Variable Universal Life Insurance: Variable Universal life is also another form of permanent life insurance in which also provides you with coverage for your entire life. The difference between a traditional Universal life policy and Variable Universal policy is that Variable Universal offers an investment opportunity and traditional Universal life doesn’t. This policy also offers an opportunity to build cash value that is also income tax-free and if you need immediate cash you are able to borrow against the policy. Just keep in mind that whatever you borrow you will have to put back into the policy otherwise your death benefit will reduce.
Work with US!
In conclusion, Guardian Life is a fantastic company with a solid rating from top agencies with a variety of different insurance products. They are definitely not a company that you need to lose sleep over wondering if they will be there to pay your family if something was to happen to you. In addition to that, you can secure pretty much any type of life insurance plan you desire without having to go anywhere else. Now, if you’re a smart consumer you definitely want a great plan with competitive pricing and we strongly feel there are more affordable options out there. That is why you should work with an independent life insurance broker like us to let the biggest carriers compete for your business. The other side is that no one carrier will look at your overall health and risk profile the same, so you should check out multiple carriers before you apply to make sure you can get approved. If you’re ready to shop click here to get some term life quotes or simply call one of our specialist at 888.492.1967 to get started. We are looking forward to meeting you!
