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Guardian life insurance review 2022

Updated Dec 02, 2022
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Guardian life insurance may be of particular interest to those looking for term, whole or universal life insurance, and who enjoy the support of a financial representative.

Pros

  • Operates throughout the U.S. and is available in Puerto Rico
  • Offers term, whole life and universal life insurance policies
  • Exceptional ratings for financial stability from AM Best

Cons

  • No mobile app
  • Customer service is available only during business hours
  • Below-average ratings for customer satisfaction in J.D. Power study

Guardian offers a range of other insurance products to help you round out your protection portfolio, in addition to life insurance. Consider whether the pros and cons make this insurer a possible fit for your needs.

Guardian Life Insurance Company of America was started in 1860 and was founded by a group of immigrants in New York. Today, it has more than 29 million clients, providing life insurance and other financial products to individuals, companies and government-sponsored programs across the globe. Guardian is licensed to sell coverage in all 50 states, Washington, D.C. and Puerto Rico, although not all products are available in all states. Bankrate conducted a Guardian life insurance review to help you understand the company’s offerings. Our research might help you decide if Guardian life insurance is right for your needs.

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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 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 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 so you can do your own estimations. Used in conjunction with a life insurance coverage calculator, this 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 life insurance customer and claims satisfaction

Guardian life insurance reviews are generally positive, and the company has some favorable ratings with consumer watchdog organizations. The National Association of Insurance Commissioners (NAIC) gives Guardian Life’s individual life insurance products a complaint index of 0.09, far below the baseline of 1.00. This indicates that the NAIC receives fewer complaints about Guardian Life than average.

However, J.D. Power, another group that monitors customer service in the insurance industry, gives Guardian a lower-than-average 775/1,000. The 2021 J.D. Power U.S. Individual Life Insurance Study ranked on five metrics. The lower-than-average score for Guardian may indicate its customers aren’t generally satisfied with their experiences. Your own experiences may hinge on many things, including your local agent.

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 indicates that Guardian is well-managed with good financial investments.

Guardian corporate sustainability

When it comes to giving back, Guardian focuses on 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. Finally, Guardian tracks metrics for its employees’ charitable donations and volunteer hours and keeps tabs on how energy efficient, and environmentally friendly its offices are.

Not sure if Guardian is right for you? Consider these alternatives

Although Guardian may be considered one of the best life insurance companies, it might not fit your exact needs. If you’re not sure if Guardian is the right company for you, these other companies may be worth considering:

  • 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. Not all products can be quoted online, so you may still need to speak with an agent.
  • State Farm: With the highest score in the J.D. Power study and a network of local agents who stand ready to help you with your life insurance needs, State Farm is a solid insurer. However, you won’t be able to buy coverage online; you’ll have to work with a local agent.
  • Prudential: If you’re looking for a policy that can be highly tailored to your needs, Prudential could be the right fit. The company offers numerous riders to help you personalize your coverage but doesn’t offer whole life or no-medical-exam options.