NEW YORK, November 15, 2018 – The Guardian Life Insurance Company of America (Guardian®), a leading national provider of life and disability insurance, employee benefits, and dental insurance, today announced its Board of Directors approved a $978 million dividend allocation to its individual life policyholders in 2019. This amount is greater than last year’s allocation and is the highest in our Company’s history. The Dividend Interest Rate, which is the investment component of the dividend, will remain at 5.85% in 2019. Guardian is proud to be able to maintain the 5.85% DIR in this long lasting, low interest rate environment.
“Guardian operates in the interest of its policyholders and the dividend is a big part of what defines our mutual mission,” said Guardian’s President and Chief Executive Officer Deanna M. Mulligan. “Even as we evolve, diversify our business and innovate for the future, we never lose sight of our founding values and commitment to serve our policyholders and customers.”
Recent examples demonstrating Guardian’s commitment to customers include:
- Choosing to keep policies in force until death and fulfill the promise made to clients unlike some insurers who terminated policies for those living past the age 100. In the first half of the last century, actuaries didn’t envision people living past the age of 100, so some life policies terminated at age 100 as a way of indicating they were in force “for life.”
- Calling disability customers before Hurricane Florence hit to ensure they were safe and able to receive their disability checks if they were displaced from their homes.
- Delivering exceptional, multi-channel service that meets the unique needs of each of our clients. Our client care teams have been recognized as industry leaders in delivering superior service to our customers by DALBAR and for providing “An Outstanding Customer Service Experience” for the live phone channel from J.D. Power.
- Investing in technology, including artificial intelligence, automation, and big data analytics, to continually improve customer service and products.
- Being the first among insurers to offer whole life insurance to people living with HIV who are on maintenance therapy.
“Our policyholders and clients look to us to provide unparalleled service,” said Guardian’s Executive Vice President of Individual Markets Christopher Dyrhaug. “As a mutual company owned by its customers, Guardian’s long-term strategy is aimed at optimizing policyholder value while managing Guardian’s financial strength and ratings. Guardian is committed to providing our policyholders with a strong performing whole life policy and we meet this commitment by paying a competitive dividend.”
This video can help you learn more about dividends, including what type of insurance companies distribute dividends, who is eligible to receive them, and how dividends are determined by the company.
Dividends are not guaranteed. They are declared annually by Guardian’s Board of Directors. The total dividend calculation includes mortality experience and expense management as well as investment results.
Financial information concerning Guardian as of December 31, 2017, on a statutory basis: Admitted Assets = $55.6 Billion; Liabilities = $48.9 Billion (including $41.8 Billion of Reserves); and Surplus = $6.7 Billion.
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The Guardian Life Insurance Company of America® (Guardian) is one of the largest mutual life insurers, with $8.0 billion in capital and $1.6 billion in operating income (before taxes and dividends to policyholders) in 2017. Founded in 1860, the company has paid dividends to policyholders every year since 1868. Its offerings range from life insurance, disability income insurance, annuities, and investments to dental and vision insurance and employee benefits. The company has approximately 9,000 employees and a network of over 2,750 financial representatives in 55 agencies nationwide. For more information about Guardian, please follow Guardian on Facebook, LinkedIn, Twitter and YouTube.