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Guardian Life Insurance Review

Guardian Life Insurance Review

Reviewed By: Rob Pinner

Rob PinnerRob Pinner is the founder and CEO of Pinner Financial Services servicing all 50 states. Rob started his insurance career in 2002. Full Bio >

Checked By: Holly Mitchell

Holly Mitchell’s background in life insurance insurance goes back to 1985 when she worked for her father who was a New York Life agent. Holly has a marketing degree from Auburn University and has had a life insurance license since 2008. In addition to advising life insurance for customers all around the country, Holly is our website fact checker.
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Last Updated: August 11th, 2023

There are two main options available when it comes to life insurance. Permanent Life (in the form of Whole or Universal) or Term Life Insurance.

Many people debate the merits of whole vs term life. But my general view is that for most families, term life will make more sense than whole.

This is purely because of the ability to buy more coverage at a lower cost during the years you need it most (your working years).

Deciding which type of insurance policy you want is only the first step of the purchasing process.

You’ll also have to decide WHERE you want to buy your policy from, either whole or term.

There are so many different companies that sell life insurance, sifting through them would take way too much time.

Luckily, we are here to help you find the most affordable life insurance companies.

One of the companies that we get a lot of questions about is Guardian Life.

Guardian Life is one company that provides both whole and term life. And in this article, I’ll provide a review of the company.

About Guardian Life Insurance

Financially very strong stable, they feature an “A++” rating from A.M. Best Company. Guardian Life Insurance Company has existed for over a hundred years.

Founded in 1860, they were originally called Germania Life Insurance Company of America.

The company changed its name in 1917 to Guardian Life Insurance Company of America. This was the same year the United States joined the Allied forces in World War I.

This change was meant to reflect their patriotism and their policy to protect the interests of their American customers.

Despite their rich history, however, Guardian Life Insurance Company is not the best choice for those seeking to purchase a term life insurance policy. This is simply because their pricing is not competitive.

Compared to other companies, their term life policies are overpriced. And whole life, while it sounds convenient, is not the best choice for many in the long run.

If you’re looking for the cheapest term life insurance, you’ll want to keep looking.

Term Life Insurance

Every year there are thousands of different families that lose a loved one, and on top of losing a family member, they find themselves with thousands of dollars of debt.

Life insurance plays many roles after the insured dies. It provides the family with death benefits to help funeral costs and it ensures there are enough funds to encompass estate tax if any is owed.

Both term and whole life insurance can fulfill these needs. However, for those looking for insurance to cover all possibilities, term life insurance is the way to go.

Term life insurance is simple: the insured can purchase this to cover them for the next ten, twenty, or thirty years if they happen to die unexpectedly.

After the pre-determined set of time is over, the insurance policy is no longer effective. At that point, you’ll have to find a new policy.

Regardless of which option they choose, the amount paid monthly remains the same. The younger you are when you buy a policy, the lower the monthly premium payment.

If every payment is met punctually, and the insured dies within the period they choose, the beneficiary will receive death benefits.

For those with the foresight to buy basic life insurance, term life insurance is a better option than whole life due to its simplicity and low cost.

Whole Life Insurance

Those who require life insurance for the entire duration of his or her life for final burial expenses or estate planning purposes should consider whole life insurance or universal life.

Whole life has fixed premiums that are substantially higher than those paid by term life insurance holders. It lacks the simplicity of term life insurance but comes with a cash value component that increases in value over time that may be borrowed against.

While whole life seems advantageous because of the cash value option, many find investing the difference and choosing term-life insurance instead allows them a greater return on their money.

If you want to most affordable insurance coverage, whole life isn’t what you want to choose, but there are some advantages to whole life that term doesn’t offer. The first advantage is obvious, the policy is effective for your whole life, unlike term.

With these policies, you don’t have to worry about ever getting a new insurance policy. Keep paying the monthly premiums and you’ll always have coverage, it’s as easy as that.

As we mentioned earlier, another benefit is the cash value component that builds up inside of the whole policy. For some applicants, the ability to borrow off of the cash value is a nice addition to their life insurance coverage

Finding Affordable Coverage

The vast majority of people are just looking for the cheapest term life insurance they can find. If you’re one of these people, there are several things you can do to get the lowest monthly premiums possible.

One thing we suggest doing right away is focusing on your health and work towards improving it. After you complete the initial paperwork with Guardian, or whichever insurance company you choose, they schedule an appointment with a third-party nurse to come and gather both blood and urine samples for testing.

During this exam, the company is going to want to see what kind of health you’re in. They will do this by looking at your weight, blood pressure, cholesterol, and by taking a blood sample and urine sample. After the medical exam, the insurance company will review the results, look at your health, and then calculate to see how large of a risk you are to insure.

Another way of saving money is by quitting smoking. Smokers are going to pay drastically more than a person that doesn’t smoke. In fact, with some companies, smokers are the group who pays the most expensive rates when compared to any other group.

Is Guardian Life Insurance Best for You?

While Guardian is a respected name, their main strength is in whole life insurance. If you are looking for term, you will find you can save significantly by going to other companies.

If you have any questions about Guardian Life or any other insurance companies please feel free to contact us today, it would be our pleasure to answer those questions for you.

We can also help you decide which type of plan will fit your needs the best, so you pick the right company and the right product.

Doug Mitchell, CLU

Doug Mitchell, CLU

Doug Mitchell, CLU holds a BA degree in Finance from Auburn University as well as having obtained a Chartered Life Underwriter (CLU) designation from The American College in Bryn Mahr, PA. Doug has spent close to 30 years in the life insurance and financial planning industry and has held licenses to sell securities, long-term care insurance, health. Some other notable items about Doug: Top of the Table Million Dollar Round Table member (MDRT). (MDRT is a global, independent association of the world’s leading life insurance advisors) | Premier Partner with Lincoln Financial and Cabinet Member | Served two years as President of the Auburn/Opelika Association of Financial Advisors | Life Millionaire status at Horace Mann Insurance Company and was awarded the Life Agent of the Year Award | New York Life, Executive Council Member | Currently serves as President of Ogletree Financial, a life insurance General Agency. | Doug is also a financial blogger addressing the topics of life insurance, annuities and retirement income planning.

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