1 Some whole life polices do not have cash values in the first two years of the policy and don’t pay a dividend until the policy’s third year.
2 Policy benefits are reduced by any outstanding loan or loan interest and/or withdrawals. Dividends, if any, are affected by policy loans and loan interest. Withdrawals above the cost basis may result in taxable ordinary income. If the policy lapses, or is surrendered, any outstanding loans considered gain in the policy may be subject to ordinary income taxes. If the policy is a Modified Endowment Contract (MEC), loans are treated like withdrawals, but as gain first, subject to ordinary income taxes. If the policy owner is under 59 ½, any taxable withdrawal may also be subject to a 10% federal tax penalty.
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Guardian, its subsidiaries, agents, and employees do not provide tax, legal, or accounting advice. Consult your tax, legal, or accounting professional regarding your individual situation.
All life insurance policy guarantees are subject to the timely payment of all required premiums and the claims-paying ability of the issuing insurance company. While the information provided here may help inform your decision, we strongly encourage you to discuss your insurance needs with your broker or agent to ensure that you consider the optimal coverage for your circumstances. This is not a contract or an offer of coverage. This is a quote based on personal information that you’ve provided and describes certain features of a standard policy, which may vary by state. Coverage amounts and features shown on this quote may not be available to you. If a policy is issued, its provisions and pricing may differ from this proposal.
Guardian Level Term is issued by The Guardian Insurance & Annuity Company, Inc. (GIAC), a Delaware corporation whose principal place of business is 10 Hudson Yards, New York, NY 10001. 1 888 GUARDIAN (1 888 482 7342).