GUARDIAN ANNOUNCES “GOLD STANDARD” OF LIFE INSURANCE BETTER DESIGNED TO KEEP PACE THROUGH ALL LIFE’S STAGE
NEW YORK, September 14, 2006 — The Guardian Life Insurance Company of America today introduced a new generation of life insurance for three generations of people to address the needs of Americans who are living later and want to prepare for their futures earlier.
The Guardian Gold Series of three new whole life insurance policies was introduced to better meet the unique needs of America’s changing population — from those funding kids’ college educations, to thirty-somethings who want to start a solid financial foundation, to parents and grandparents who will live decades into retirement and wish to provide a legacy for their heirs.
“Life insurance can be a foundation for financial security for every generation of American,” said David W. Allen, FSA, Senior Vice President of Individual Markets. “These new policies were designed to work very efficiently at different stages of life for a variety of economic situations.”
The Guardian Gold Series offers something for every generation — whether it’s a policy that’s forgiving of Baby Boomer procrastination, an all purpose plan that addresses a broad spectrum of goals, or a starter policy for Generations X and Y, the Gold Series was designed to help each unique generation by providing lifetime financial security and a substantial death benefit.
Whole Life Paid-Up at age 121 is a new breed of policy that can answer the needs of people who are living longer than ever before. Issued through age 90, the policy is an ideal solution for those who are quickly approaching retirement and desire the security, tax advantages, and guarantees inherent in this policy. Guardian recognizes that for those that are more mature — for example early Baby Boomers or retirees - other insurance products can be costly and simply not a viable option. The L121 policy was designed to be affordable, also giving it great appeal for younger individuals who wish to begin developing their long-term goals and need a plan that suits their goals and budgets.
The best “all-purpose” policy of the new series is Whole Life Paid-Up at age 99. It fits in the middle of Guardian’s three-policy approach to offer another choice to people sandwiched between their retirement and youth. L99 is an excellent choice to maximize long-term performance and deliver significantly high cash values after 20 years or more. Its flexibility allows a variety of uses: it enables the policyowner to build and conserve wealth for business continuation plans, estate planning, or to supplement retirement income.
For those who desire quick cash accumulation, whether it’s accessing cash values to cover the cost of tuition, mortgages, college loans, or other expenses, Whole Life Paid-Up at age 95 maximizes cash values in the early years. Business owners can leverage the value of this asset on the balance sheet, or use it to insure key executives.
The new policy series, based on the Society of Actuaries’ 2001 Commissioners Standard Ordinary mortality tables, reflects pricing that considers the dramatic increase in our life expectancies. All life insurance companies nationwide must adapt their life insurance products to this standard by the end of 2008. Guardian is among the first in this initiative.
For media inquiries, contact:
Joe McGurk
Manager of Public Relations
MSCO
Tel: 914.798.3192
jmcgurk@msco.com