What is a whole life insurance policy?
The most robust type of permanent insurance, a whole life policy is ideal if you want to stay covered for life to protect your loved ones, while accumulating cash value. Your cash value is the portion of money you can use during your life to pay for certain expenses, like dealing with the unexpected, paying for education, or funding a more secure retirement.
Why you should have whole life insurance:
Lifelong guaranteed life insurance.
- You’ll be assured of a guaranteed premium amount that you have to pay that can’t be increased.
- Your loved ones/beneficiaries would receive a guaranteed, lump-sum payment if you weren’t around to take care of them.
- Your business could also be a beneficiary.
Cash value accumulation.
- While staying covered for life, you can also build a significant cash asset that’s not dependent on the rise or fall of the market at any time.
- You can borrow against the cash value portion of your whole life policy. If you need money for other things in the future: a down payment for a home, college funding, or a business loan.
Potential dividend payments.
- Guardian is a mutual life insurance company, and this means that you may receive an amount of money based on our profits called a dividend. While not guaranteed, the payments have historically been made every year since 1868.
- Tax-advantaged buildup of cash value. This means that you defer paying tax on the dividends you’re accumulating.
Tax-sensible asset for loans.
- If you need to borrow against your cash value - for an emergency or any other purpose - the loan may not count as income for taxation, as long as your policy remains active.
Learn more through videos.
- Whole Life Insurance could benefit you during your lifetime and provide a legacy for your loved ones. Discover it’s many benefits by viewing our video series.
Optional enhancements to improve your life
While a whole life insurance policy is a comprehensive product, a series of optional features are available to extend the protection even further. Called riders, these are simply additions to your contract, usually at an extra cost. Some examples include our riders that cover various aspects of care for chronic or terminal illness or disability.
Mutuality makes a difference
Learn how a whole life insurance policy from a mutual company, which is owned by policyholders, is different than a policy from a stock company. The kind of company you choose to do business with can make a big difference.
Guardian index participation feature (IPF)
Discover the current rates for Guardian’s Index Participation Feature (IPF) – a rider that allows select Whole Life policyholders to link a portion of their paid-up-additions cash value to the performance of an index. Learn more