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{ts '2010-09-27 00:00:00.000'}

NEW YORK, September 27, 2010 — As part of its ongoing commitment to provide consumers with a flexible array of tools to help protect their future financial security, The Guardian Life Insurance Company of America (Guardian), New York, N.Y., announced two additions to its flagship Whole Life portfolio.
Both products offer lifetime protection without the worry of having to pay for it over a lifetime. The first, known as 20 Pay Whole Life, enables clients to fully pay for their permanent coverage in 20 annual premium payments, making it well-suited for a number of long-term planning scenarios. The second, Life Paid Up at Age 65, ensures that premiums stop when clients are ready to start enjoying their retirement.
The two new additions follow last year’s introduction of a 10 Pay Whole Life policy, which was well received by consumers seeking more secure strategies to replace wealth lost due to market conditions, and eager to take advantage of Whole Life insurance’s “living benefits”—including annual dividends and guaranteed cash values that grow tax-deferred each year—long after the limited payment period.
“Regardless of which policy best fits their own planning needs, consumers are clearly responding well to the financial soundness that is built into every Whole Life contract,” noted Michael Ferik, FSA, Guardian Senior Vice President, Individual Life.
According to LIMRA’s U.S. Individual Life Insurance Sales survey, Whole Life sales through the first half of 2010 increased 19 percent over the first half of 2009, compared to a 9 percent increase for all types of life insurance. That brings Whole Life's industry wide market share to 31 percent of the total sales — the highest share since 1998.
“In uncertain times, there’s a lot to be said for having an asset with guaranteed cash value that protects hard-earned wealth from tax erosion and market risk,” Ferik said, “and now the ability to align one’s premium payment schedule with specific life events is an added benefit.”
For example, 20 Pay Whole Life is versatile enough and equally effective for:
       ·       A young professional couple with favorable career growth potential—To accumulate funds 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 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.
Meanwhile, Guardian’s Life Paid Up at Age 65 offers distinct 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 or sooner, thereby bridging a potential “retirement gap.”
“Guardian is one of only two major mutual life insurance companies to offer 20 Pay Whole Life, and our Life Paid Up at Age 65 compares very favorably to the competition for supplemental retirement planning,” observed Ferik.
Opportunities to Customize Coverage
To further enhance the flexibility of 20 Pay Whole Life and Life Paid Up at Age 65, Guardian has 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.




Guardian, its subsidiaries, agents or employees do not provide legal or tax advice. Dividends are not guaranteed. They are declared annually by Guardian’s Board of Directors. Riders may incur an additional cost.
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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