Guardian insurance review 2023

The Guardian Life Insurance Company of America was founded in New York City in 1860 by a group of German American immigrants. Today, it serves customers through 2,500 financial representatives, with assets that exceed $9.3 billion, providing life insurance and other financial products to individuals and companies. Guardian is licensed to sell coverage in all 50 states and Washington, D.C., although not all products may be available in every state. Bankrate’s Guardian life insurance review can help you understand the company’s offerings and might help you decide if Guardian life insurance is right for your needs.

Guardian life insurance coverage types

At its most basic, life insurance offers your beneficiaries a financial safety net in the unfortunate event you pass away. However, because everyone has unique needs, several types of life insurance are available. You may find it informative to compare life insurance quotes and price out different policy types to help determine which insurer might be right for you.

Guardian offers three types of life insurance, each tailored to different circumstances:

• Term: Term life insurance is typically the cheapest policy option. It is active for a specific period — usually between 10 and 30 years — and it may be a good choice if you want a simple policy to cover you during a time of high financial obligation, for example, while your children are young. If you’re looking for the best term life insurance company, Guardian may be a good place to start your journey.
• Permanent: Guardian offers two kinds of permanent life insurance: whole life and universal life. Both policy types are designed to last until your death (as long as premiums are paid) and provide cash value accumulation, but with universal life, you have a bit more flexibility with your premium and death benefit. All life insurance quotes will generally be more expensive as you age, but permanent insurance, in particular, can be prohibitively costly for older adults, so getting a policy while you are younger could help you save on a permanent policy.

Guardian life insurance endorsements

Guardian offers a long list of riders for its different policy types. A few options you may want to consider include:

Guardian life tools and benefits

Purchasing a life insurance policy can help your family move forward after you die, but most families need additional insurance coverages. Guardian offers a portfolio of individual and group insurance products that can help protect your family’s health and your hard-earned assets.

• Accident insurance: Guardian’s accident insurance pays a cash lump sum if you sustain a covered injury. Accident insurance can help supplement your disability and health insurance coverages, paying expenses such as ambulance services, copayments and deductibles.
• Critical illness insurance: With a Guardian critical illness insurance policy, you may receive up to a $50,000 cash lump sum payment if you suffer an illness such as cancer, heart attack, Parkinson’s disease or stroke.
• Dental insurance: Guardian offers HMO and PPO dental plans that provide preventative care and restorative care, while offering discounted services.
• Disability insurance: If you sustain a serious illness or injury, disability insurance pays you a percentage of your regular income. Guardian sells group, individual, long-term, short-term and supplemental disability insurance plans. The cost of individual disability insurance depends on your age, benefit amount, benefit period and health history.
• Hospital indemnity insurance: A Guardian hospital indemnity insurance policy can help pay costs that your health insurance does not cover, such as copayments, childcare services, deductibles and travel expenses to and from a hospital or treatment facility.
• Vision insurance: Guardian’s vision insurance plans can help pay costs that many health plans do not cover, including eye examinations, contact lenses and glasses.

Guardian also offers financial advisory and brokerage services, along with investment products, including annuities and individual retirement accounts (IRAs).

Guardian customer satisfaction

In the 2022 J.D. Power U.S. Individual Life Insurance Study, Guardian ranked seventh in the market, with an overall customer satisfaction score of 787 out of 1,000 points, compared with top-ranking State Farm, which earned a score of 839 points. J.D. Power bases its rankings and ratings on performance factors such as communication, customer interaction, product offerings, premiums and statements.

The National Association of Insurance Commissioners (NAIC) publishes a national complaint index report, which tracks complaints lodged against insurance companies. The index employs a baseline of 1.0, which represents an average number of complaints. In 2021, Guardian earned a 0.11 company complaint index score for individual life insurance, well below the industry average.

Another valuable ranking comes from AM Best, which provides financial strength ratings for insurers. A company’s history of financial stability indicates that they have historically been able to pay claims without issue, which may give you some peace of mind for future claims, although circumstances can change. Guardian’s A++ (Superior) is the highest rating AM Best provides and may give policyholders peace of mind that the insurer is likely to reliably payout death benefits.

How to file a claim with Guardian

To start an individual life insurance claim, you must call (866) 452-4542. If you have Guardian life insurance offered through an employer, the Guardian website enables you to search the database by employer name or find your policy’s group ID number.

To submit a claim, you must supply the deceased's physician’s name and address, medical documents and Social Security number, and have a copy of the death certificate. If the deceased died as the result of an accident, you might also need to submit hospital records, a medical examiner’s report, a police or incident report and prescription drug records.

You can download and complete a group life insurance claim form from the Guardian website and submit it online through the Guardian Anytime portal. The initial claim review typically takes about 15 calendar days. You can access a claim’s status by logging in to the Guardian Anytime portal.

Guardian availability

Guardian sells life and health insurance products in all 50 states and Washington, D.C., although individual product availability may vary. The Guardian website does not provide an agent lookup tool. However, on the website, you can enter your contact information and the types of products you are interested in to receive a callback from a Guardian financial representative.

Guardian life services

In addition to insurance, Guardian also offers financial planning services, which could help you choose products that are right for your needs. You can find an advisor by using the “Find a Financial Representative” tool on Guardian’s website. A financial advisor or licensed life insurance agent can help you decide how much life insurance you need. Additionally, Guardian offers a life insurance cost calculator. Used in conjunction with a life insurance coverage calculator, Guardian’s tool could help you know how much your coverage will cost.

Other Guardian perks worth considering

In addition to term, whole and universal life insurance, Guardian also offers the following products:

• Disability insurance
• Dental insurance
• Vision insurance
• Accident insurance
• Critical illness insurance
• Cancer insurance
• Hospital indemnity insurance
• Mental wellness benefits
• Annuities
• Individual retirement accounts (IRAs)
• Investments

Guardian corporate sustainability

Guardian highlights three key areas of community support: health and wellness, financial empowerment and economic opportunity. Programs range from helping fund dental programs and mentoring programs for marginalized communities to helping promote financial literacy and providing small-debt forgiveness programs. Guardian also helped during the height of the COVID-19 pandemic by addressing food insecurity and bolstering local economies.

Guardian tracks metrics for its employees’ charitable donations and volunteer hours, and shares these achievements on its website. Additionally, the company keeps tabs on how energy efficient and environmentally friendly its offices are.

Not sure if Guardian is right for you?

Although Guardian may be considered one of the best life insurance companies according to Bankrate’s research, it may be a better fit for some than others. If you’re not sure if Guardian is the right company for you, these other companies may be worth considering:

Guardian vs. Mutual of Omaha

This provider might be a good choice if you are looking for strong digital tools combined with high customer satisfaction and numerous product types. Like Guardian, Mutual of Omaha offers term life, universal life and whole life insurance policies. The provider sells term life policies to people aged 18 to 80. The Mutual of Omaha website enables you to get online quotes for term life and whole life products.

Besides life insurance, Mutual of Omaha also offers dental insurance, disability insurance, critical illness insurance, long-term care insurance and cancer, heart attack and stroke insurance. Mutual of Omaha ranked third in the 2022 J.D. Power U.S. Individual Life Insurance Study, with an overall customer satisfaction score of 801 out of 1,000.

Learn more: Mutual of Omaha Insurance review

Guardian vs. State Farm

With the highest score in the J.D. Power study and a network of local agents, State Farm could be a solid insurer for many individuals. The provider sells term life, universal life and whole life insurance policies, but does not offer online quotes. Guardian offers term life policies that feature 10-, 15-, 20- and 30-year terms, while State Farm only offers 10-, 20- and 30-year terms. However, State Farm allows policyholders to keep their term life policies in place up to age 95.

Unlike Guardian, State Farm offers one-stop shopping for your insurance needs. Besides life insurance, State Farm also sells business, car, commercial auto, condominium, home, identity restoration, rental property and renters insurance. The insurer also offers retirement plans, including traditional and Roth IRAs, and banking services such as checking and savings accounts.

Learn more: State Farm Insurance review

Guardian vs. Globe Life

Globe Life ranked second in the 2022 J.D. Power life insurance survey, with an overall customer satisfaction score of 812 out of 1,000. Globe Life sells term life and whole life insurance, along with children’s life insurance, which features a savings component and rates that never increase. The provider also offers final expense insurance and mortgage protection, a type of accidental death and dismemberment coverage that can pay off your mortgage when you die due to a covered accident.

Globe Life also offers a wide range of supplemental health products, including, accident, cancer, critical illness, hospital and ICU insurance. However, Globe Life does not offer auto, condominium, home or renters insurance like other alternatives on our list.

Learn more: Globe Life Insurance review