Back to Blog
![]() ![]() Guardian offers six different premium-payment variations built around a fairly standard whole life insurance structure. While a few individual applicants can qualify for an exam waiver, the majority will need to undergo a standard medical evaluation as part of the application process. Guardian has yet to hop on the no-exam bandwagon that has become a big factor in the life insurance industry. If a policyholder opts to partially convert term coverage to whole life, the remaining term coverage must be at least $100,000. In most cases, the minimum coverage amount is $250,000, and coverage levels can go as high as $5 million. However, applicants who want a conversion option that stays effective longer can add a rider that extends the option for a longer period but requires an additional premium. Ordinarily, the conversion option only lasts for the first five years after a policy is issued. Term policies include a standard conversion option allowing policyholders to convert a term policy to whole life. ![]() No medical exam is required for renewal, but premiums increase significantly after a policy’s initial term. The 20-year term, for instance, is only available through age 65.Īfter the initial term concludes, Guardian Life gives term policyholders the right to renew coverage annually until age 95. Initial policy terms are 10, 15, 20, or 30 years, though longer terms aren’t available for older applicants. Guardian Life’s level-term life insurance offering is available to new policyholders between ages 20 and 75. It is great if you want convertible term insurance that can be converted to a solid permanent life insurance policy down the road.īut the negative is that you will pay for that benefit, because Guardian’s term life insurance rates are much higher than many of its competitors. The pros and cons of Guardian Life Term Insurance is this. Life Insurance Policies Offered by Guardian Life
0 Comments
Read More
Leave a Reply. |