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{ts '2010-05-17 00:00:00.000'}

NEW YORK, May 17, 2010 — Amidst historically low interest rates and premium rate hikes throughout the insurance industry, The Guardian Life Insurance Company of America (Guardian) has reinforced its commitment to existing clients, as well as prospects, by announcing a significant price-related enhancement to its ULtraLife Current Assumption Universal Life1 product.
“As a mutual company, our first obligation is to the policyholder,” said Michael Ferik, FSA, Guardian Senior Vice President, Individual Life. “It’s only natural for us to pass along recent improvements in mortality to our ULtraLife UL policyholders by reducing premiums.”



Guardian is accomplishing this benefit via cost of insurance (COI) adjustments2 that will positively affect new and inforce policyholders. As a result, the base ULtraLife UL policy is priced even more competitively for pay-to-endow and pay-to-carry scenarios (both level and short pay), offering clients affordable and flexible lifetime coverage with the potential for cash accumulation.
In addition, Ferik noted, ULtraLife UL’s minimum guaranteed interest crediting rate of 3.5 percent is among the highest in the industry.
“Here again, our abiding focus is on security for our policyholders over the long term,” he stated. “The fact that UltraLife UL is tied to the Guardian’s general account assets helps to ensure the product’s stability—something our clients value, especially in the wake of economic disruption and the current recovery’s extremely low interest rates.”
At a time when many carriers are raising rates on universal life policies with secondary guarantees, Ferik pointed to the benefit of a UL policy with cash value that can be accessed for a variety of “living benefits.” For example, a business that has funded its Key Person insurance plan with ULtraLife UL can take advantage of the policy’s built-in flexibility for loans or as collateral to help the business grow.
And, to further enhance ULtraLife UL’s flexibility, Guardian offers several key rider options, including an Enhanced Accelerated Benefit Rider (EABR) that pays a portion of the death benefit in advance should a permanent chronic illness or a terminal illness occur, and two disability waiver options (Waiver of Specified Amount Rider and Waiver of Monthly Deductions Rider) to cover the policy premium in the event of a disability.
While the recent pricing enhancements were created with the existing policyholder in mind, they also signal Guardian’s recommitment to another key constituency, noted Ferik: the brokerage market.
“There’s a large pool of brokers out there who need a competitive, flexible UL solution for their clients—especially in this still-volatile economic climate—who’ll be thrilled to look to Guardian to fill the bill,” he said.
About Guardian
A mutual insurer founded in 1860, The Guardian Life Insurance Company of America (Guardian) and its subsidiaries are committed to protecting individuals, business owners and their employees with life, long term care insurance, disability income, group medical and dental insurance products, and offer 401(k), annuities and other financial products. Guardian operates one of the largest dental networks in the United States, and protects more than six million employees and their families at 120,000 companies. The company has more than 5,400 employees in the United States and a network of over 3,000 financial representatives in more than 80 agencies nationwide.
For more information about Guardian, please visit: www.GuardianLife.com.
SOURCE:The Guardian Life Insurance Company of America

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