July, 26 2017

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Guardian Life Insurance Company Review

Guardian Life Insurance Company Review

Author
  • Price
  • Underwriting
  • Financial Strength

Guardian Life Insurance Company Review

Pros: Financial Rating- Guardian Life Insurance Company has the best financial rating available from A.M. Best A++ (Superior).  In fact, they have a 98 Comdex score which means they received a near perfect rating from the four major rating agencies.  Size- Guardian Life is one top life insurance companies in America by market share and one of the nation’s largest corporations earning a spot as a Fortune 300 list.  Mutual Company- Guardian is a mutual insurer which some people prefer.

Cons: Guardian’s rates are often higher than other insurers, even those in the same superior A.M. Best rating category.  Also, their underwriting guidelines can be very conservative which can lead to higher premiums.

Bottom Line:  The Guardian Life Insurance Company of America is one of the nation’s top mutual insurers.  They have a near perfect financial rating from the four main rating agencies and the company has rich, stable tradition dating back to 1860.  Guardian’s rates are competitive when you compare them against the other elite A++ mutual insurers in America such as; MassMutual, Northwestern Mutual, New York Life and State Farm).  However, other insurers in the same superior A.M. Best rating category that receive and A+ grade will typically have lower rates and more favorable underwriting guidelines.

About

Type: Mutual

Issued by: Guardian Life Insurance & Annuity Company – Guardian Life Insurance Company of America

Founded: 1860

Website: www.guardianlife.com/

Phone: (800) 441-6455

8:00 a.m. to 6:00 p.m. EST

Address: 7 Hanover Square, New York, New York, 10004

A.M Best Rating: A++ (Superior) Highest of 16 possible ratings

Comdex Ranking: 98 out of 100

BBB Rating: A+

Competitors: New York Life, Northwestern Mutual, MassMutual, John Hancock, Principal, State Farm, Allstate, Ohio National Life, AIG, Banner Life, Protective Life, Primerica, State Farm, USAA, Genworth Life, OneAmerica, North American Co, Lincoln National Life, ING-ReliaStar, Transamerica, Prudential.

 

Price Comparison Chart

Sample rates for a male in each company’s best health class for $500,000 on a 20-year level term:

(Used the extended conversion rates for Guardian)

AgeGuardian LifeProtectiveBanner LifeMassMutual
30$21.03$18.77$19.25$25.23
40$32.62$26.43$27.13$36.11
50$72.10$58.37$59.94$75.69
60$180.68$147.37$150.06$182.70

 

Summary
Review Date
Reviewed Item
Guardian Life Insurance Company
Author Rating
4