Belize

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Belize Accumulator Plus (Modified)
The modified Accumulator Plus is a limited-payment whole life plan with premium payments usually ceasing on the policy’s anniversary preceding the 65th birthday of the Assured.

The death benefit is the sum of the basic sum assured plus the current cash value.
 

Belize Executive Special
The Executive Special is a whole life assurance with one-quarter participation in profits. Premiums are payable throughout life. Surrender values are guaranteed.

 

Guardian Universal Life Option 2

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An interest sensitive plan which has two death benefit options one of which is chosen by the policyholder at inception.

Purpose: 
To provide a fund for protection, retirement, estate planning, business insurance and education.
Minimum coverage: 
$60,000
Issue ages: 
The policy may be issued to males and females between the ages of 1 and 60 years.
Rider coverage: 
Accidental Death & Dismemberment Disability/Parental Waiver of Premium New Life Plus
Death benefit: 

The benefit payable on death will be the greater of the basic sum assured and the cash value.

If death is by suicide within two years of the commencement date of the policy or within two years of reinstatement of the policy, the death benefit will be limited to the surrender benefit.

Surrender benefit: 
The amount payable is the cash value less a surrender charge. The surrender charge which is defined as a percentage of the basic minimum premium, depends on the policy year on the date of surrender.
Non-payment of premiums: 

A period of thirty days commencing on the premium due date is allowed for payment of any premium.

If the premium is not paid within the period, the police will be made paid-up with the continuation of the basic sum assured.

Additional details: 

Paid-up - Cancellation of the basic sum assured
The policyholder may make the policy paid-up on the basis that no further premiums will be paid and the death benefit thereafter will be equal to the surrender benefit of the policy.

Paid-up - Continuation of the basic sum assured
As an alternative to the above, the policyholder may make the policy paid-up on the basis that:

  • no further premiums will be paid
  • the basic sum assured will continue to be in force
  • expense charge equal to one-twelfth of the mortality charge will be deducted from the cash value at the beginning of every month, and
  • any additional premium payable on the grounds that an exceptional risk of death was involved, will be deducted from the cash value when due.

 

Policy Review
At each policy anniversary the policyholder may increase the basic sum assured in force without medical evidence of health, provided however that:

  • the maximum of such increase shall be 10%
  • the minimum of such increase shall be 3%
  • this option had been exercised at least once in the last two policy years
  • the annual total basic premium in effect during the preceding year has been paid in full
  • the policy is not rated for medical reason

Guardian Universal Life Option 1

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An interest sensitive plan which has two death benefit options one of which is chosen by the policyholder at inception.

Purpose: 
To provide a fund for protection, retirement, estate planning, business insurance and education.
Minimum coverage: 
$60,000
Issue ages: 
The policy may be issued to males and females between the ages of 1 and 60 years.
Rider coverage: 
Accidental Death & Dismemberment Disability/Parental Waiver of Premium New Life Plus
Death benefit: 

The benefit payable on death will be the sum of the basic sum assured and the cash value.

If death is by suicide within two years of the commencement date of the policy or within two years of reinstatement of the policy, the death benefit will be limited to the surrender benefit.

Surrender benefit: 
The amount payable is the cash value less a surrender charge. The surrender charge which is defined as a percentage of the basic minimum premium, depends on the policy year on the date of surrender.
Non-payment of premiums: 

A period of thirty days commencing on the premium due date is allowed for payment of any premium.

If the premium is not paid within the period, the police will be made paid-up with the continuation of the basic sum assured.

Additional details: 

Paid-up - Cancellation of the basic sum assured
The policyholder may make the policy paid-up on the basis that no further premiums will be paid and the death benefit thereafter will be equal to the surrender benefit of the policy.

Paid-up - Continuation of the basic sum assured
As an alternative to the above, the policyholder may make the policy paid-up on the basis that:

  • no further premiums will be paid
  • the basic sum assured will continue to be in force
  • expense charge equal to one-twelfth of the mortality charge will be deducted from the cash value at the beginning of every month, and
  • any additional premium payable on the grounds that an exceptional risk of death was involved, will be deducted from the cash value when due.

 

Policy Review
At each policy anniversary the policyholder may increase the basic sum assured in force without medical evidence of health, provided however that:
the maximum of such increase shall be 10%
the minimum of such increase shall be 3%
this option had been exercised at least once in the last two policy years
the annual total basic premium in effect during the preceding year has been paid in full
the policy is not rated for medical reason

20 Year Convertible Term Plan

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A level premium payable term insurance plan.

Purpose: 
To provide a fund for family protection and business coverage at reasonable cost.
Minimum coverage: 
$100,000
Issue ages: 
The policy may be issued to males and females between the ages of 18 and 60 years inclusive. The plan is issued on an ‘age next’ basis.
Rider coverage: 
Disability Waiver of Premium Accidental Death & Dismemberment
Death benefit: 

The death benefit payable is the Sum Assured less unpaid modal premiums and outstanding premiums.

Maturity benefit: 
The policy matures without value at the end of the 20th policy year.
Payment of premiums: 

Level premium payable for 20 years.

Additional details: 

Convertibility

 

The policy is convertible without evidence of insurability in the first 5 policy years. There is no partial conversion.

New Life Plus

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A plan which provides a lump sum benefit payable on the first diagnosis of a Critical Illness.
May be sold as a rider (an additional benefit that is attached to a life policy) or as a stand alone policy.

The Critical Illnesses covered under this plan are as follows:
 
Blindness, Paralysis, Major Burns, Coma, Cancer, Stroke, Kidney Failure, Heart Attack, Multiple Sclerosis, Coronary Artery Disease Surgery, Heart Valve and Structural Surgery, Major Organ Transplant

Purpose: 
To provide cash in the event of any one of the above critical illnesses.
Maximum coverage: 
$250,000
Minimum coverage: 
$55,000
Issue ages: 
The policy may be issued to males and females between the ages of 16 and 60 years inclusive. The plan is issued on an ‘age nearest’ basis.
Rider coverage: 
Disability Waiver of Premium.
Exceptions: 

No benefits are payable on diagnosis of a Critical Illness if it was caused by or it resulted from:

    * Intentional self-inflicted injuries, while sane or insane
    * Committing, attempting or provoking any criminal offence
    * War, declared or undeclared, or any civil disturbance
    * Military service
    * Intoxication by substances other than those prescribed by a licensed physician, or the inhalation of any gas or toxic substance
    * Pregnancy, miscarriage or childbirth
    * Taking part or attempting to take part in any capacity in aerial flights except as a fare-paying passenger on an airline which has regularly published schedules and which is licensed by the country in which it is registered to carry passengers for hire.
    * Any pre-existing condition (see policy contract).

Grace period: 
The policy/rider has a ninety (90) day waiting period during which time no benefits are payable.
Payment of premiums: 

The premium, in respect of this plan, is payable on the due dates specified on the Policy Schedule until any one of the following:

  • The date of death of the Life Assured
  • The date the Life Assured is diagnosed as having one of the Critical Illness outlined above
  • The policy anniversary after the Life Assured attains age 65 (hereinafter, referred to as the “Expiry Date. The premium in respect of the Rider, shall be payable along with the premiums on the Life Policy and will not be accepted separately.
Non-payment of premiums: 

Should any premium payable in respect of this Rider not be paid on or before its due date:

 

  • The unpaid premium may be paid without addition in the thirty days (hereinafter called “the days of grace”) following such due date, and until the end of the days of grace the Rider shall remain in force. If the said premium is unpaid at the end of the days of grace the Rider shall lapse forthwith.
  • After the Rider has lapsed all benefits thereunder shall cease and it shall not be competent for the Life Assured to revive such Rider except with the consent of the company and on such terms and conditions including evidence of insurability as it seemsfit to require.

 

The inadvertent acceptance by the company of payments of a premium when no longer due will not constitute a waiver of this provision. The premium will be refunded.

Additional details: 

New life plus benefit
The coverage is payable on the first diagnosis of any of the Critical Illnesses where death has not occurred within thirty (30) days immediately following the date of diagnosis.

The Rider will then cease to be in force.
Claims must be made no later than six (6) months after the first diagnosis of a Critical Illness.

In the event that age is mis-stated, the amount payable hereunder shall be adjusted to the amount that would have been provided by the same premium at the correct age.

New Life

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A critical illness, non-medical 20 year premium paying plan, which provides for a lump sum benefit on the first diagnosis of Cancer. Cancer is the presence of uncontrolled growth and the spread of malignant cells. The term “Cancer” also includes leukaemia, lymphomas and Hodgkin’s disease.

Purpose: 
To provide cash on the first diagnosis of cancer.
Maximum coverage: 
$60,000
Minimum coverage: 
$30,000
Issue ages: 
The policy may be issued to males and females between the ages of 16 and 60 years inclusive. The plan is issued on an ‘age nearest’ basis.
Benefit: 
The Basic Sum Assured is payable on the first diagnosis of Cancer and where death does not occur within thirty (30) days immediately following the date of diagnosis. The policy will then terminate. Claims must be made in writing no later than six (6) months after diagnosis of Cancer.
Exceptions: 

No benefits are payable on diagnosis of Cancer if it was caused by or it resulted from any “Pre-Existing Condition”.

 A Pre-Existing Condition is either:
 - The existence of or symptoms which could cause an ordinary prudent person to seek diagnosis, care or treatment before the policy was in force or before the end of the waiting period;

or

 - A condition for which medical advice or treatment was recommended before the Policy was in force or before the end of the waiting period.

Grace period: 
The Policy has a ninety (90) day waiting period during which time no benefits are payable.
Death benefit: 

All premiums paid are refunded on death if death occurs before cancer is first diagnosed.

Premium refund benefit: 
At the end of 20 years all premiums paid will be refunded and the Policy will terminate.
Payment of premiums: 

Premiums are payable for 20 years.

Non-payment of premiums: 

The Policy will lapse without value if premiums are not paid within thirty days after they fall due. The policy is not reinstatable; however, application may be made for a new one.

5 FOR LIFE

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5 for LIFE is a 5 year convertible and renewable insurance solution term plan.
It is designed primarily to provide high level affordable coverage for persons 18 - 75 years old.This plan provides insurance protection for individuals, families and businesses at competitive rates. Premium rates will vary by age, sex and smoker status.
Target Group
 

  • Age Group: 18 to 45 years.
  • Professionals, Entrepreneurs, CEOs, Managers, Heads of Families.

Purpose: 
This plan provides insurance protection for individuals, families and businesses at competitive rates.
Minimum coverage: 
$100,000
Issue ages: 
The allowable issue ages are 18 to 70.
Death benefit: 

The death benefit is the sum of the basic sum assured plus the value of all un-used premium credits at the time of death.

Expiration: 
At the Final Expiry Date - age 75 - the value of all unused premium credits will be paid.
Additional details: 

Special Feature

  • Premium Credit: Upon receipt of each premium, Premium Credit will accrue to the policy.
  • Premium Credits will be used to pay premium (on your 5 for LIFE plan) that have been outstanding for a specified period, provided sufficient credits have been accumulated.
  • Un-used Premium Credits will be paid Upon the death of the life insured, along with the sum assured, or at age 75, the final expiry date.
  • Premium credits may be used to pay premiums on new plan where full Coverage is being converted.

 

Conversion Option
You may at any time convert this plan to any permanent plan which is offered by Guardian Life, provided that this plan is in force and all premiums have been paid in full.

Renewability
On the expiry date of the policy, you may opt to renew for a further five year period, without evidence of health, provided the expiry date is before the policy anniversary upon which the Life Insured attains age 75.

Addition Benefits
You may add the following benefits (riders) to your plan, for a small premium:

   1. Accidental Death and Dismemberment Benefit Rider.
   2. Disability Waiver of Premium Rider

Guardian Care Plus

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Guardian Care Plus is a critical illness, non-medical plan which pays a lump sum benefit on the first diagnosis of Cancer, Stroke, Major Burns, Heart Attack, Blindness, Coma, Paralysis, Multiple Sclerosis, Deafness or Loss of Speech.

Maximum coverage: 
$60,000
Minimum coverage: 
$30,000
Issue ages: 
The policy may be issued to males and females, ages 18 to 60 years nearest birthday.
Exceptions: 

No benefits are payable on diagnosis of a critical illness if it were caused by or resulted from any ‘pre-existing condition

A pre-existing condition is either:

1. The existence of symptoms which could cause an ordinary prudent person to seek diagnosis, care or treatment before the policy was in force or before the end of the elimination period;

or

2. A condition for which medical advice or treatment was recommended before the policy was in force or before the end of the elimination period.

Elimination period: 

This is a period of 180 days after:
Commencement of the policy as shown in the policy schedule, or in the case where the policy has been reinstated, the date of revival.

If the first diagnosis is made or death occurs during the elimination period, only premiums will be refunded.

Grace period: 
The grace period is 30 days after a renewal premium is due. Your policy will lapse if your premium is not paid within the grace period.
Cash value: 
The policy has no cash value or bonus.
Ambulance benefit: 
Guardian Life will pay the current maximum payable per life, (the current maximum is BZ$150.00) if as a result of the first diagnosis of the Life Insured with any of the 10 named illness the Life Insured was transported in an ambulance to a hospital.
Death benefit: 

If death occurs as a result of the first diagnosis of any critical illness covered under this plan while the policy is in force, and no claim relating to the cause of death had previously been made, then the sum assured less any indebtedness will be paid. Otherwise, the amount payable on the death of the Life Insured while the policy is in force is a sum equal to the total of all premiums paid as at the date of death, less any indebtedness.

Premium refund benefit: 
At the expiry date, if there was no claim paid, all premiums paid will be refunded and the policy will terminate.
Expiration: 
Expiry date is the policy anniversary upon which the Life Insured attains age 75 or the 20th policy anniversary, whichever is later.
Termination: 
The plan will terminate: · The death of the Life Insured · Upon the payment of a claim, or · At expiry date whichever occurs first.
Reinstatement: 
The policy may be revived once within 120 days from the due date of the first unpaid premium. Upon approval for revival, the date on which the policy is revived will be deemed as the date of revival. A new elimination period would then be calculated from the date of revival.

Guardian Instant Coverage

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A non-medical whole life policy which takes care of last expenses. Instant coverage is provided on the payment of the first premium. Right from day one, should you die accidentally, the Company guarantees to pay the full Sum Assured.

 

Purpose: 
To provide a fund for final expenses.
Maximum coverage: 
$20,000
Minimum coverage: 
$10,000
Issue ages: 
The policy may be issued to males and females between the ages of 18 and 75 years inclusive. The plan is issued on an ‘age next’ basis. Max coverage for ages 18 - 64 is BZ$20,000 and for ages 65 - 75 is BZ$10,000.
Death benefit: 

The amount payable will be the full Sum Assured on accidental death from day one.
However, if the insured person dies from other causes (that is, other than accident) before the policy is 2 years old, or if the policy has been redated, benefits offered, based on original issue date, or otherwise the new issue date, are as follows:

Surrender benefit: 
The policy may be surrendered for its cash surrender value less any premiums in arrears at the end of the twentieth (20th) policy year or any year thereafter but before the Life Assureds’ 100th birthday. The cash surrender value will be one-half the basic Sum Assured.
Payment of premiums: 

Premiums remain fixed. No premiums payable after 20 years, however, full coverage continues.

Additional details: 

Age of Policy Death Benefit

First 12 months Refund of all premiums
13 – 18 months 50% of sum insured
19 – 24 months 75% of sum insured
Over 24 months 100% of sum insured

Guardian Child Star

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An interest sensitive plan which pays the sum of the basic sum assured and cash value on death.
At age 21, the basic sum assured increases to five times the prevailing basic sum assured without an increase in the prevailing basic premium

Purpose: 
To provide cash accumulation for your child’s education.
Maximum coverage: 
$150,000
Minimum coverage: 
$10,000
Issue ages: 
The policy may be issued to children, ages 1 to 15 years on their next birthday.
Cash value: 
The cash value shall be determined at least once per month according to the following procedure: - Cash value at the time it was last determined, plus - Basic investment amount(s), plus - Additional investment amount, plus - Interest, less - Expense charge, less - Withdrawal amount Since the time the cash value was last determined.
Death benefit: 

The benefit payable consists of the sum of:

- The basic sum assured, and
- The cash value at the time 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 cash value less a surrender charge.
Payment of premiums: 

Non-payment of premiums

A period of thirty days commencing on the premium due date is allowed for payment of any Premium.
If the total basic premium is not paid within the period, the policy will be deemed to have been made paid-up under the continuation of the basic sum assured option.

Paid-up - Cancellation of the basic sum assured
The policyholder may make the policy paid-up on the basis that no further premiums will be paid and the death benefit thereafter will be equal to the surrender benefit of the policy.

Paid-up - Continuation of the basic sum assured
As an alternative to the above, the policyholder may make the policy paid-up on the basis that:
 - no further premiums will be paid
 - the basic sum assured will continue to be in force
 - expense charge equal to one-twelfth of the mortality charge will be deducted from the cash value at the beginning of every month, and
 - any additional premium payable on the grounds that an exceptional risk of death was involved, will be deducted from the cash value when due.

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MedeCus
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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