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Portfolio > Portfolio Construction

Guardian adds two products to whole life portfolio

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The Guardian Life Insurance Company of America, New York, N.Y., has announced two additions to its flagship Whole Life portfolio.

Both products offer lifetime protections without the worry of having to pay for it over a lifetime. The first, 20 Pay Whole Life, enables clients to fully pay for their permanent coverage in 20 annual premium payments. The second, Life Paid Up at Age 65, ensures that premiums stop when clients are ready to start enjoying their retirement.

20 Pay Whole Life may be effective for:

  • A young professional couple with favorable career growth potential – to accumulate fund for college once they start a family (or even before the baby arrives; unlike an Education IRA or 529 Plan, a Whole Life policy doesn’t require that that the child be born and have a Social Security number); and
  • A more established couple anxious to protect their legacy for future generations – To give the gift of life insurance to a grandchild, perhaps, or to leave a bequest to their alma mater or favorite charity.

Life Paid Up at Age 65 may offer advantages for those anxious to lock in a comfortable retirement:

  • Premium payments stop just in time to tap into the policy’s cash accumulations to supplement retirement income; and
  • Since full Social Security benefits are now delayed beyond age 65 (up to 67 for anyone born after 1959), this policy can provide a tax-advantaged cash resource for those who anticipate retiring at the typical age 65 milestone of sooner, thereby bridging a potential “retirement gap.”

There is a full line-up of riders available with both policies, including:

  • Lifetime Paid Up Additions Rider enables the consumer to continue adding value to his or her policy even to age 121, if desired.
  • Guaranteed Insurability Option Rider locks in insurability, allowing for the purchase of additional whole life insurance without further medical tests.
  • Enhanced Accelerated Benefit Rider, available for no additional premium, pays a portion of the death benefit in advance should a chronic or terminal illness occur.
  • Waiver of Premium Rider waives premiums due in case of total disability and may make the policy self-completing.

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