Owning a whole life insurance product offers a person many options throughout
their life. Read some of the articles we have written to decide if whole
life insurance is something that you should own.
Instantly with the payment of the first premium, Guardian sets aside the entire death benefit for your family. Whole Life Insurance provides a guaranteed benefit for the entire life of the insured.
DISABILITY PROTECTION
Life insurance is uniquely different from all forms of savings and investment vehicles such as bank accounts, IRA's, 401(k) accounts, mutual funds, and brokerage accounts because it can continue to grow even if you are disabled. Disability usually brings with it the strain of reduced income, increased expenses, and dissolution of existing savings and investment. The Waiver of Premium Rider option provides this guarantee.
LIABILITY PROTECTION
In many states the benefits of life insurance are protected from the claims of creditors. If your state provides this protection, the cash values and death benefit of a whole life policy will be protected from lawsuits that can claim other assets such as bank accounts, mutual funds and brokerage accounts.
DISTRIBUTION LIKE A WILL
Life insurance is distributed like a will in that you specify who and how much the benefit will be distributed to each beneficiary. Unlike a will, however, life insurance has the added benefit of privacy. Wills once probated become public documents. The beneficiary distribution of life insurance is a private, contractual agreement between the policyowner and the insurance company that passes outside of a will and thus provides privacy for the beneficiary.
