Universal Life & Equity Linked Plans

Universal Life & Equity Linked Plans from Guardian Life

Guardian Lifesaver Special

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This is a non-medical equity linked, universal life plan with level cost of insurance charges. The plan provides coverage for protection and critical illnesses, and offers the opportunity to invest in five funds through which one can accumulate funds for that special purpose. In the first year, ninety-five percent of the investment premium paid, inclusive of Ad hoc deposits, is allocated to purchase units thereafter ninety-seven and one half percent is used to purchase units in the Funds.

Purpose: 
To provide funds for education, retirement, business start-up and opportunity fund.
Maximum coverage: 
$1,500,000
Minimum coverage: 
$250,000
Issue ages: 
18 to 75 years, nearest birthday. The current minimum coverage for all ages is $250,000. This amount may be changed from time to time at the discretion of Guardian Life Limited. Maximum coverage: $1,500,000 (ages 18 - 70) and $500,000 (ages 71 - 75).
Rider coverage: 
For an extra premium the Guardian Care Critical Illness Rider which covers Cancer, Stroke, Major Burns and Heart attack, may be added.
Death benefit: 

The amount payable upon death is graduated based on the age of the policy as follows:

  • Up to 12 months - a refund of premiums plus the accumulated value of the units
  • 13 to 18 months – 50% of the Sum Assured plus the accumulated value of the units
  • 19 to 24 months – 75% of the Sum Assured plus the accumulated value of the units
  • Over 24 months – 100% of the Sum Assured plus the accumulated value of the units

Notwithstanding, if death is by accident, 100% of the Sum Assured is payable. If death is by suicide with two years of issue or reinstatement of the policy, the death benefit will be limited to the surrender benefit.

Surrender benefit: 
The amount payable is the value of the units allocated to the policy less a surrender charge.
Maturity benefit: 
The plan matures at age 100 with the amount payable being the Sum Assured and the accumulated value of the units.
Non-payment of premiums: 

If a premium is not paid within the 30 days grace period, units from the Funds will be automatically surrendered to pay premiums. Once the units have been exhausted, the policy will lapse and all benefits will cease.

Guardian Universal Life

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An equity linked policy, this means that the benefits payable are denominated in units and not in monetary terms.

Purpose: 
To provide a fund for protection, retirement, estate planning, business insurance and education.
Issue ages: 
The policy may be issued to males and females between the ages of 1 and 75 years.
Rider coverage: 
Accidental Death & Dismemberment, Disability/Parental Waiver of Premium, New Life Plus
Death benefit: 

The death benefit payable is equal to the sum of:- The basic sum insured in effect at the time of death; andThe value of the units allocated to the policy. If death is by suicide within two years of the date of issue of the policy the death benefit will be limited to the value of the units allocated to the policy.

Surrender benefit: 
The amount payable is equal to the value of the units allocated to the policy less a surrender charge.
Non-payment of premiums: 

If a premium is not paid within the grace period of 30 days the policy will be deemed to have been made paid-up or will be surrendered for cash, if the value of the Units is insufficient to permit a paid-up policy.

Guardian Investor

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An equity linked fifteen year endowment policy under which the maturity proceeds are determined by the performance of the Blue Chip Fund. (Blue Chip Fund is a balanced fund with investment in Equities, Money Market and Government Bond)

Purpose: 
To provide cash accumulation for education, retirement, business start-up and opportunity fund.
Issue ages: 
The policy may be issued to males and females between the ages of 0 and 65 years.
Rider coverage: 
Disability/Parental Waiver of Premium.
Death benefit: 

The death benefit payable will be the greater of: The sum of basic premiums remaining to be paid had the life insured survived to the maturity date; and the value of the units allocated to the policy as determined by the bid price prevailing on the date of notification of death. If death is by suicide within two years of the date of issue or reinstatement date of the policy the death benefit will be limited to the surrender benefit.

Surrender benefit: 
The amount payable is the value of the units allocated to the policy, based on the bid price prevailing on the date of surrender, less a surrender charge.
Maturity benefit: 
The amount payable is the value of the units attributed to the policy as determined by the bid price prevailing on the maturity date.
Non-payment of premiums: 

If a premium is not paid within the grace period of 30 days the policy will be deemed to have been made paid-up or will be surrendered for cash if the value of the Units is insufficient to permit a paid-up policy.

Guardian Lifesaver

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This is a non-medical equity linked, universal life plan with level cost of insurance charges. The plan provides coverage for protection and critical illnesses, and offers the opportunity to invest in five funds through which one can accumulate funds for that special purpose.
Purpose: 
To provide funds for education, retirement, business start-up and opportunity fund.
Maximum coverage: 
$2,500,000
Minimum coverage: 
$250,000
Issue ages: 
18 to 75 years, nearest birthday. The current minimum coverage for all ages is $250,000. This amount may be changed from time to time at the discretion of Guardian Life Limited. Maximum coverage: $1,500,000 (ages 18 to 70) and $500,000 (ages 71 - 75).
Rider coverage: 
For an extra premium the Guardian Care Critical Illness Rider which covers Cancer, Stroke, Major Burns and Heart attack, may be added.
Death benefit: 

The amount payable upon death is graduated based on the age of the policy as follows:

  • Up to 12 months - a refund of premiums plus the accumulated value of the units
  • 13 to 18 months – 50% of the Sum Assured plus the accumulated value of the units
  • 19 to 24 months – 75% of the Sum Assured plus the accumulated value of the units
  • Over 24 months – 100% of the Sum Assured plus the accumulated value of the units

Notwithstanding, if death is by accident, 100% of the Sum Assured is payable. If death is by suicide with two years of issue or reinstatement of the policy, the death benefit will be limited to the surrender benefit.

Surrender benefit: 
The amount payable is the value of the units allocated to the policy less a surrender charge.
Maturity benefit: 
The plan matures at age 100 with the amount payable being the Sum Assured and the accumulated value of the units.
Non-payment of premiums: 

If a premium is not paid within the 30 days grace period, units from the Funds will be automatically surrendered to pay premiums. Once the units have been exhausted, the policy will lapse and all benefits will cease.

Guardian Life Evolution

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This is an equity linked, universal life plan with level cost of insurance charges. The plan provides coverage for protection, critical illnesses and offers the opportunity to invest in five funds through which one can accumulate funds for that special purpose.

Purpose: 
To provide funds for protection, retirement, estate planning, business insurance and education.
Minimum coverage: 
$2,500,000
Issue ages: 
0 to 70 years, nearest birthday. The current minimum coverage for all ages is $1,500,000. This amount may be changed from time to time at the discretion of Guardian Life Limited. Subject to the provision of evidence of insurability, there is no maximum coverage.
Rider coverage: 
For an extra premium the New Life Plus Critical Illness Rider, a five year renewable & convertible term rider, waiver of premium, parental waiver of premium and accidental death & disablement riders, may be added.
Death benefit: 

The amount payable upon death is the sum assured plus the value of the accumulated units in the investment Funds. If death is by suicide within two years of issue or reinstatement of the policy, the death benefit will be limited to the surrender benefit.

Surrender benefit: 
The amount payable is the value of the units allocated to the policy less a surrender charge.
Maturity benefit: 
The plan matures at age 100 with the amount payable being the Sum Assured and the accumulated value of the units.
Non-payment of premiums: 

If a premium is not paid within the 30 days grace period, units from the Funds will be automatically surrendered to pay premiums. Once the units have been exhausted, the policy will lapse and all benefits will cease.

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Guardian Life
Pension

Agent of the Month
- March 2012
Georgia Williams

Premier 2

Georgia exemplifies the saying our hero, the late Marcus Mosiah Garvey :

"The height of great men reached and kept was not attained by sudden flight, but they while their companion slept was toiling upward through the night.”

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