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BySean Jackson Contributor

Sean Jackson is a creative writer based in Florida. He’s written content for Realtor.com, theScore, CBS and other publications. In his spare time, he enjoys drumming and improv.

Guardian Life Insurance Review

Guardian Life is similar to other providers in that it offers multiple kinds of life insurance policies, including whole life, universal life, and term life options. What differentiates it is that it specializes in providing protection for those who have disabilities, rendering it easier for policyholders to pay bills if an illness or accident causes them to miss work. What’s more, the company has an exceptional reputation, as evidenced by its A+ rating with the Better Business Bureau.

Ultimately, this insurance company is good for those who need specialized life insurance, such as survivorship benefits. Its website is pretty scant in terms of policy information and resources, but it still may be worth including the company as you get quotes from companies.

Pros
Cons
Life insurance for those who have HIV, provided they meet specific requirements
Survivorship life insurance
Policyholders eligible for dividends
Lack of information on website

The Life Insurance Factors We Analyzed

Customer experience

While Guardian's website is fairly basic — you'll have to contact an agent for detailed information about policies — it is easy to receive a quote. Simply go to its website, click on the "get a quote" button, enter personal information, and then receive the quote. You can adjust the benefits information to receive an estimated price.

Overall, customers also seem to have good experiences with the Guardian. The National Association of Insurance Commissioners found that the company received fewer than the average number of complaints in 2018, and the company received a four out of five in J.D. Power's life insurance study.

Financial strength

Guardian Life is one of the biggest providers available. The company receives exceptional ratings across the board, including the following:

  • Moody’s (pertains to the credit risk of provider): Aa2
  • AM Best (grades a provider’s financial strength and ability to meets its obligations, such as paying claims): A++
  • S&P Global (the ability of a provider to repay its debt): AA+

Guardian Life’s great reputation across all rating agencies ensures that it has the financial assets needed to pay out claims while repaying all debts.

Coverage and rider information

In addition to standard coverage, Guardian has a few unique features. In 2017, Guardian rolled out EstateGuard. This benefit allows two people to be under one policy, which reduces the costs of having to pay for another plan. What’s more, the cash value increases after one of the members passes away, giving the surviving member ways to pay for the policy or make up lost income.

Guardian Life also covers those who have HIV through its whole life insurance. To qualify, you must be between 20 and 60 years of age, without an AIDS-defining illness, taking highly active anti-retroviral therapy for at least two years, and under the care of a doctor who specializes in treating those with HIV. While premiums will likely be higher than those of a standard policy, Guardian's coverage is a thoughtful touch for people who may be denied coverage elsewhere due to their illness.

Life insurance coverage features

Insurance types offered Whole, universal, term
Term lengths offered 10, 15-20, or 30 years
Standout coverage features EstateGuard for two people on one policy
Coverage for people with HIV

Guardian Life Insurance Overview: Financial Strength, Availability, and History

Guardian Life Insurance Company has a great reputation, earning an A+ rating from the Better Business Bureau. What’s more, the number of filed complaints with the National Association of Insurance Commissioners was below average for the industry.

  • In business since: 1860
  • S&P Global financial strength rating: AA+
  • Moody’s financial strength rating: Aa2
  • AM Best financial strength rating: A++
  • States served: 50

The Competition

Rank
Reviews.com Score
Customer Experience Score
Financial Strength Score
Guardian Life
7
4.1/5
4/5
4.3/5
Northwest Mutual
1
4.9/5
5/5
4.7/5
State Farm
2
4.8/5
5/5
4.3/5
Nationwide
3
4.5/5
4.3/5
3.7/5
New York Life
4
4.4/5
4.3/5
4.7/5
Mutual of Omaha
5
4.25/5
4.3/5
4/5
Principal Financial
6
4.2/5
3.7/5
4.3/5

All information accurate as of February 4, 2020.

The Bottom Line

Guardian Life is a smart choice for couples searching for life insurance or for people who may be denied coverage elsewhere due to illness. With EstateGuard, you can have two people on one policy, reducing the amount spent on multiple policies while also giving you the option to adjust death benefits. And if you are diagnosed with HIV, Guardian Life has coverage options specifically geared toward your needs, provided you meet the company's qualifications. Ultimately, the financial strength of the company, coupled with its unique features, makes it a good draw for anyone considering life insurance.

Guardian Life Insurance FAQ

Is Guardian Life a good life insurance company?

Guardian Life earned a high customer satisfaction score with J.D. Power and had fewer than the average number of complaints registered with the National Association of Insurance Commissioners in 2018. It also earns high marks with all the credit-rating agencies, which indicates the financial strength to pay your claims.

What types of life insurance does Guardian Life offer?

The company offers whole, term, and universal life insurance.

What is the average life insurance cost per month with Guardian Life?

The cost of your life insurance depends on a variety of factors, including your age, gender, income, occupation, tobacco use, and death benefit requirements.

Does Guardian Life pay out dividends to its policyholders?

Because Guardian is owned by its policyholders, it does pay out dividends. Recently, it announced a payout of the largest dividend in the company’s history, to the tune of $982 million dollars to policyholders in 2020. The company also announced that its dividend interest rate for 2020 will be 5.65%.

Does Guardian Life's life insurance require a medical exam?

It depends on the policy you want to buy. Some policies require medical exams, whereas others will only have you fill out a medical questionnaire to qualify for service. You can contact Guardian Life to learn more.

Can you cancel Guardian Life's life insurance?

Yes, you can. To cancel, contact Guardian Life, and an agent will process the cancellation for you. It’s important to note you won’t receive back any premium payments you made in the past, and if your policy has cash value, you’ll receive that value minus any fees associated with canceling the policy.

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