Guardian Life Insurance Reviews
- Guardian Life Insurance provides a wide array of policy choices to suit every life insurance need. Find out more with this Guardian Life Insurance review.
One of the interesting aspects of Guardian Life Insurance company is that because of its mutual structure, it is owned by the policyholders themselves. This means that the company offers annual dividends to those consumers that purchase whole life policies.
In fact, the company has paid out dividends to policyholders annually since 1868. It will pay out just over a billion dollars in dividends in 2021.
What Products and Services Does Guardian Life Insurance Provide?
Guardian offers a wide array of life insurance options.
Term Life Insurance
Guardian offers term policies spanning 10, 15, 20 and 30 years. While term life quotes may be obtained online, the actual purchase takes place with a licensed Guardian agent. Level premiums are guaranteed with this policy type. Term life policies can be converted to whole life options, but there is a fee for doing so.
Whole Life Insurance
One of the unique elements of whole life through Guardian is that it offers policies to individuals living with HIV. Qualifications for this whole life policy include being between age 20 and 60 years, on antiretroviral medication for at least 2 years and under the care of a physician that specializes in HIV treatment. Individuals applying for this policy must also be free of AIDS-related comorbidities.
Traditional whole life insurance is also offered with fixed coverage, level premiums and both level-pay and limited-pay options. Coverage begins at $25,000 for a lifetime span. The age range for whole life policies is vast, stretching from birth to age 90.
Permanent Life Insurance
The company offers a survivorship policy called Guardian EstateGuard. It is typically recommended for married couples that are insured on one policy. If one passes, death benefits are paid to the other person on the policy. Moreover, the cash value of the policy increases after the first person passes.
Permanent life coverage starts at $100,000. The policy is fixed, but premiums are flexible.
The Pros and Cons of Guardian Life Insurance
- Dividends for whole life policyholders: There are few things better than a company that pays customers for their business, which is exactly what dividends feels like. Guardian has been paying dividends every year for more than 100 years.
- Affordable rates: Guardian offers affordable life insurance coverage for all types of policyholders, including smokers and people with HIV.
- Unique policies: Guardian life insurance offers unique policies specific to those with HIV as well as survivorship options.
- Short term life ranges: As is the case with many insurance companies, the term life limits are fairly short when compared to other policies.
- Few discounts: While rates are already fairly affordable, there are few additional discounts available to consumers.
What People Are Saying About Guardian Life Insurance
Guardian Life Insurance reviews emphasize the dividends options for some customer groups as well as the ability to convert term life policies to whole life. The customer service is also a point of note, as many consumers have noted helpful and friendly agents during interactions with the company.
The company's longevity is also commonly pointed out as a benefit to working with Guardian, as it has been in business for more than 160 years.
The only negative takeaways have been the lack of online services in some instances, which mitigates some of the convenience of using the company's website.
Who Would Guardian Life Insurance Be Good For?
Guardian Life Insurance is ideal for those who are finding it challenging to obtain policies elsewhere. This is applicable to smokers and people living with HIV, who have found it impossible to obtain affordable coverage. This is also a good fit for older couples who want to ensure that their partner is taken care of should anything happen to them.