Guardian Life Insurance Company Review

Written by Ross Quade

Contact Info:

Call: 888-482-7342

Fax: 212-919-2906

Hours: 8:00-6:00 ET, Monday-Friday

Website: guardianlife.com

Address:

7 Hanover Square

Customer Service H-6-D

New York, NY 10004

Guardian Life Insurance Company is a mutual insurance company established over 150 years ago. Guardian Life is a mutual company, which means that it is owned by its policyholders who share in the company’s financial accomplishments through paid dividends at the end of each annual year. The amount of the annual dividend is dependent on Guardian Life’s annual profit, where the firm has paid out a dividend every single year since 1868 to its policyholders.

Guardian Life Insurance Company claims that their many years of success can be attributed to their continued maintenance of the company’s strong set of values, and keeping their essential goals in line with the dynamic needs of their valued customers. The Guardian Life firm appears to take great pride in their efforts to make their customers and policyholders their number one obligation of which is “reflected in everything” they do.

History

Guardian Life was founded more than 150 years ago in 1860, under the name of Germania Life Insurance Company of America. From day one, its sole objective was to provide families, individuals, and businesses financial protection. The predecessor company, Germania Life, was established by a group of twenty-one German-American businessmen. These gentlemen, led by a prominent civil rights lawyer, established early on, with double the required capital by the state law in the formation of the company; that they were going to prove their long-term financial stability.

In 1918, Germania Life was renamed Guardian Life Insurance Company of America, where they would within the next few years complete a conversion from a mixed stock organization to a mutual firm.

As of current Guardian Life Insurance Company is one of the largest mutual insurance firms in the United States. They are financially sound with a totaled 6.8 billion dollars in capital, with another $1.3 billion in operating revenues. Guardian Life contributes such financial success to their expansion nationwide where they now have over seventy agencies scattered throughout the US. They also have over three thousand financial representatives and six thousand employees.

Positives

They’re a few positives with regards to Guardian Life Insurance Company worth mentioning. What we feel is the most important include, their solid financial foundation. They have maintained this foundation for over 150 years and that has been affirmed for the better part of 50 years through top A.M. Best ratings (a leading premier insurance rating agency); as well as their lack of consumer complaints.

Guardian Life Insurance Company offers consumers three primary life insurance products, which include:

  • Whole life insurance

-This policy gains cash value due to a portion of monthly premiums being invested, of which the policyholder can borrow against in the event they deem it necessary. This policy also will last the lifetime of the policyholder until they cancel or stop making premium payments.

  • Term life insurance

-This policy is available in 10, 15, 20 or 30 years where if the policyholder dies within the policies life they receive full benefits. However, if the policyholder outlives the policy, it must be renewed. This is the most affordable of the offered policies.

  • Universal life insurance policy

-This policy has all of the same specifics as the whole life insurance policy only the premiums are flexible and can be adjusted over time.

Negatives

One apparent negative with regards to Guardian Life has to do with their sales attempts on the company website. Where Guardian makes it a point to outline all of the benefits of their whole life insurance policy, ironically the most expensive, they neglect to provide consumers with any obvious advantages of the term life insurance policy, which is the more affordable option.

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Ross Quade
Ross Quade has been a licensed insurance agent since 2008. State of Texas license #1702965. He has a Bachelor Degree in Psychology from University of Minnesota and minored in Applied Economics. He has been quoted in several online publications including Huffington Post, Young Startups and various financial blogs. Ross frequently writes about issues related to the insurance and finance industry.
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