The Guardian Life Insurance Policy
The Guardian Life Insurance Company began in New York (USA) in 1860 and has become one of the four most successful mutual life insurance companies working in USA. With assets worth over $50 billion and more than 80 agencies working throughout the country, Guardian Life Insurance Company has been ranked as ‘excellent' and ‘superior' by six of the most recognized rating agencies. The company offers various insurance schemes to individuals and other companies or business organizations, covering such issues as death, disability, and serious health problems. In addition, Guardian Life Insurance also offers a ‘permanent life insurance' scheme that covers normal living needs like education, regular income for retired policy holders and so on. The life insurance policies of the company are broadly of two main kinds: Whole Life Insurance and Universal Life Insurance.
Whole Guardian Life Insurance Policy
The Whole Guardian Life Insurance Policy requires a fixed amount of premium to be paid by the policy holder throughout the life of the policy. A specific amount of the premium is saved for the client's needs and he/she can get it anytime while paying the premium. This ‘guaranteed cash value' can be withdrawn by the policy holder for his/her needs and it is the main benefit of the Whole Life Insurance program. A different version of this program is the Variable Whole Guardian Life Insurance Policy in which the cash value of the policy as well as the amount of death benefit varies with the specific investment options chosen by the policy holder. In several Variable Whole Life Insurance schemes, the death benefit is fixed above a minimum level. However, the cash value does not have any minimum guaranteed amount.
Universal Guardian Life Insurance Policy
Universal Guardian Life Insurance Policy is another kind of permanent life insurance in which the policy holder pays flexible premiums while opting for either a level (fixed) or an increasing (variable) amount of death benefit. Universal life insurance also includes cash value accumulations, which are primarily based on the company's profits and on the amount of premium paid by the client. A specialized type of Universal Life Insurance is the Variable Universal Life Insurance Policy. In this case there is a flexible investment scheme that can be opted for by the insured person (the client) while he/she bears the investment risk within the policy.
Benefits of Buying a Guardian Life Insurance Policy
Like other life insurance policies, the Guardian Life Insurance Policy offers several kinds of benefits including death benefit, maximizing one's pension benefits, greater flexibility with one's expenditure, avoidance of capital gains tax, and opportunities of greater savings as well as profitable investment. The insured person is also able to pass an appreciable amount of money to his/her family (heirs) and/or to a charity organization of choice.
