Whole-istic thinking
Whole life insurance is one of the key ingredients to living confidently.
1.5x
The most confident American workers are more than 1.5 times likely to own whole life insurance
3x
Life insurance costs three times less than most people think
83%
of working Americans place a priority on providing for their family if they die or are unable to work
The whole truth: benefits of whole life insurance
Many working Americans identify their top life priorities as protecting their family, having enough money in retirement, and educating their children.
Did you know that owners of whole life insurance have access to a wide range of benefits to support those priorities?
Benefits
Guaranteed death benefit protection to help ensure a legacy.1
Guaranteed living benefits such as cash value that can be applied toward things like the purchase of a new home, funding education or a business, supplementing retirement income, and charitable giving.2,3
Guaranteed premiums that won’t change, once the policy is in force.4
Potential dividend payments and additional growth.5
Built-in tax advantages on both the cash value and death benefit.6
Protection from disability or illness through the election of optional riders.7
Protection from creditors, depending on your state.8
Whole life myths vs. facts
Take the mystery out of whole life
Myth vs. fact
Myth: The whole life policy you own can increase in cost as you age or become ill and the premiums will go on forever. Fact: Whole life premiums are guaranteed to never increase once the policy is purchased There are various policy designs that can avoid "forever" premium payments.
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An alternative asset class
Did you know that whole life is considered an asset class that can help diversify your portfolio?
The cash value in a whole life insurance policy can help you manage risk when combined with a mix of fixed assets (like bonds) and equity assets (like stocks). Additionally, it’s insulated from market volatility, potentially increasing rewards. So, it’s there when you need it — now, or in the future.
The importance of protection first
What does protection first mean?
While saving for retirement and paying down debt is important, it shouldn’t come at the expense of adequate protection and coverage for you and your family. The most financially confident Americans are more likely to prioritize protection and own the right tools to help get the job done.9
Sources
LIMRA Life Insurance Barometer Study, 2021
https://www.limra.com/uploadedFiles/limra.com/LIMRA_Root/Posts/PR/_Media/PDFs/Facts-of-Life-2016.pdf
http://www.limra.com/Posts/MarketFacts/_Digital_Edition/MarketFacts_-_2015_Number_3.aspx
1 All whole life insurance policy guarantees are subject to the timely payment of all required premiums and the claims paying ability of the issuing insurance company. Policy loans and withdrawals affect the guarantees by reducing the policy’s death benefit and cash values.
2 Policy benefits are reduced by any outstanding loan or loan interest and/or withdrawals. Dividends, if any, are affected by policy loans and loan interest. Withdrawals above the cost basis may result in taxable ordinary income. If the policy lapses, or is surrendered, any outstanding loans considered gain in the policy may be subject to ordinary income taxes. If the policy is a Modified Endowment Contract (MEC), loans are treated like withdrawals, but as gain first, subject to ordinary income taxes. If the policy owner is under 59 ½, any taxable withdrawal may also be subject to a 10% federal tax penalty.
3 Some whole life polices do not have cash values in the first two years of the policy and don’t pay a dividend until the policy’s third year. Talk to your financial representative and refer to your individual whole life policy illustration for more information.
4 Guaranteed premium payments are required to be paid EACH year of the policy to lock in the guaranteed benefits and if not paid, the policy may lapse.
5 Dividends are not guaranteed. They are declared annually by Guardian’s Board of Directors. The total dividend calculation includes mortality experience and expense management as well as investment results.
6 Guardian, its subsidiaries, agents, and employees do not provide tax, legal, or accounting advice. Consult your tax, legal, or accounting professional regarding your individual situation.
7 Riders may incur an additional cost or premium. Rider benefits may not be available in all states.
8 State creditor protection for life insurance policies varies by state. Contact your state’s insurance department or consult your legal advisor regarding your individual situation.
9 The Guardian Study of Financial and Emotional Confidence™, 2021.
Disclaimer
The total dividend calculation includes mortality experience and expense management as well as investment results. For a whole life policy that is not a Modified Endowment Contract (MEC), if the amount of dividend payments used to repay the loan principal or interest exceeds the cost basis (cumulative premiums) of the policy, the excess dividend payments may be subject to income taxes.
Guardian® is a registered trademark of The Guardian Life Insurance Company of America, New York, NY.
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