Guardian Life Insurance Company of America

History of Guardian Life Insurance Company of America

Guardian Life Insurance has years of experience in providing life insurance as well as other diversified financial solutions including:

• Disability
• Income insurance
• Retirement services
• Employee benefits
• Investments

Founded in 1860 by Hugo Wesendonck, Guardian was first known as Germania Life Insurance Company of New York. In 1917 Germania changed it's name to The Guardian Life Insurance Company of America, and in 1925 converted from a mixed stock mutual company to a wholly mutual company.

What Is A Wholly Mutual Company?

Learning that Guardian Life Insurance Company is the fourth-largest mutual life insurance company in America sounds impressive, but let's take a closer look at what being a wholly mutual company means, and why that's good for you, the consumer.

As a wholly mutual insurance provider, Guardian has no stockholders or private owners. Policyholders own the company. As such, policyholders receive dividends on policies as profits are distributed. That's right, profits go to policyholders rather than shareholders or investors. In their efforts to keep customers happy, Guardian plans and manages for the long term so as to steadily provide low costs for life insurance while at the same time paying dividends to policyholders. This commitment to servicing the needs of customers and watching out for their long-term interests has led Guardian to become a Fortune 300 company.

Life Insurance

No matter where you purchase your life insurance policy, they all hold two things in common:

• You pay premiums
• When you die the insurance company pays a death benefit to beneficiaries

Life insurance provides a way for you to protect the financial security of your loved ones in the event of your death. Many times, the death benefit your loved ones receives is income-tax free. But as you shop for life insurance, it's important to research all your options to decide what is best for you and your family. One such option is permanent life insurance.

Permanent Life Insurance

Contact Guardian Life Insurance Company and ask about their permanent life insurance options. When you pay your premium for a permanent life insurance policy a portion of it is held in a cash reserve. This money accumulates tax-deferred. These funds are known as a living benefit and can be used anytime for things like education expenses and retirement income. Permanent life insurance provide solutions like these during your lifetime. These solutions are known as living benefits. Such benefits include:

Tax-Deferment

Permanent life insurance provides the tax-deferred accumulation of cash value in your policy which means all the accumulated cash value works for you — instead of part of it going to the government.

Dividends

Dividends are a return of premium, and generally do not create taxable income unless total dividends exceed premiums paid. Dividends can be left in the policy to earn interest or you can choose to receive them as cash payment to create a steady source of supplemental income.

Maximize Your Pension

Often people purchase life insurance when their children are young and still living at home. But once their children leave the nest and become self-sufficient, they allow the policy to lapse. Instead of doing this, check with your agent and ask how to elect a life insurance option to maximize your pension. This coverage provides supplemental income while you're alive. Policies vary, so speak with your agent to learn what works best for you.

Protection for Your Asset

Laws vary from state to state, but most often the cash value of life insurance may not be treated as an asset subject to liability judgments.

Taking Care of Yourself and Loved Ones

Permanent life insurance helps take care of you while you're still alive, while the death benefit sees to it that your loved ones are cared for in the event of your death. Keeping a permanent life insurance policy in force until you die offers added freedom and security in your senior years.

In addition to life insurance, Guardian also offers a number of other insurance products and services, including medical, dental, vision, and disability insurance.