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.<\/p>\n
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.<\/p>\n
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).<\/p>\n
Deciding which type of insurance policy you want is only the first step of the purchasing process.<\/p>\n
You\u2019ll also have to decide WHERE you want to buy your policy from, either whole or term.<\/p>\n
There are so many different companies that sell life insurance, sifting through them would take way too much time.<\/p>\n
Luckily, we are here to help you find the most affordable life insurance companies<\/a>.<\/p>\n One of the companies that we get a lot of questions about is Guardian Life.<\/p>\n Guardian Life is one company that provides both whole and term life. And in this article, I\u2019ll provide a review of the company.<\/p>\n In This Review:<\/strong><\/p>\n Financially very strong stable, they feature an “A++” rating from A.M. Best Company.\u00a0Guardian Life Insurance Company has existed for over a hundred years.<\/p>\n Founded in 1860, they were originally called Germania Life Insurance Company of America.<\/p>\n 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.<\/p>\n This change was meant to reflect their patriotism and their policy to protect the interests of their American customers.<\/p>\n 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.<\/p>\n 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.<\/p>\n If you\u2019re looking for the cheapest term life insurance, you\u2019ll want to keep looking.<\/p>\n 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.<\/p>\n 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.<\/p>\n 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.<\/p>\n Term life insurance<\/a> is simple: the insured can purchase this to cover them for the next ten<\/a>, twenty, or thirty<\/a> years if they happen to die unexpectedly.<\/p>\n After the pre-determined set of time is over, the insurance policy is no longer effective. At that point, you\u2019ll have to find a new policy.<\/p>\n 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.<\/p>\n If every payment is met punctually, and the insured dies within the period they choose, the beneficiary will receive death benefits.<\/p>\n 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.<\/p>\n 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<\/a> or universal life.<\/p>\n 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.<\/p>\n 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.<\/p>\n If you want to most affordable insurance coverage, whole life isn\u2019t what you want to choose, but there are some advantages to whole life that term doesn\u2019t offer. The first advantage is obvious, the policy is effective for your whole life, unlike term.<\/p>\n With these policies, you don\u2019t have to worry about ever getting a new insurance policy. Keep paying the monthly premiums and you\u2019ll always have coverage, it\u2019s as easy as that.<\/p>\n 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<\/p>\n\n
About Guardian Life Insurance<\/h2>\n
Term Life Insurance<\/h2>\n
Whole Life Insurance<\/h2>\n
Finding Affordable Coverage<\/h2>\n