Guardian/Berkshire Disability Insurance Review

Share
More

Guardian Life Insurance Company of America is one of the nation’s largest mutual insurers. It also has one of the strongest disability insurance products on the market.

Basics

Founded 1860
A.M. Best rating A++
BBB rating A+
Company info ”The Guardian Life Insurance Company of America (Guardian) is a Fortune 250 global financial services company that is committed to being the trusted partner delivering financial security how, when and where clients prefer. Guardian is one of the nation’s largest mutual life insurers and a leading provider of employee benefits and offerings range from life insurance, disability income insurance, annuities, and investments to dental and vision insurance and employee benefits. The company has approximately 8,800 employees and a network of over 2,750 financial representatives in 58 agencies nationwide.”

Ratings

Evaluation 4/5 stars. Guardian offers one of the strongest products on the market. In addition to great customer service and the highest financial strength ratings, their policies are priced competitively for high-income earners and medical markets.
Contract 5/5
Application process 2/5 - PDF or over the phone with an agent
Customer service 5/5
Underwriting 4/5 - Guardian has some of the most stringent underwriting for medical pre-existing conditions.

Base Policy Details*

Product name Provider Choice (except in California)
Elimination period 30 days, 60 days, 90 days, 180 days, 360 days, 720 days (subject to benefit period)
Benefit period 2 year, 5 year, 10 year, Age 65, Age 67, Age 70
Definition of disability True Own Occupation
Guarantee Guaranteed Renewable and Non-cancelable
Partial/residual disability Available via rider

Built-in Features*

table> Presumptive Disability Presumes total disability if you lose sight, hearing, speech, hands, or feet. Waiver of Premium No premiums once claim is approved. Hospice Care Benefit Elimination period waived if on physician-ordered hospice care. Unemployment Premium Suspension Benefits and premiums can be temporarily suspended while on unemployment. Occupational Rehabilitation An endorsement that will pay for occupation rehabilitation costs to help return to employment. Automatic Benefit Enhancement For the first six years, the benefit will automatically increase unless declined by the insured.

Additional Riders Available*

Basic or Enhanced Partial Two options to cover partial disabilities if sickness or injury result in a loss of income.
Future Increase Option Allows you to increase the coverage to your current income without medical underwriting.
Cost of Living Adjustment Increases the monthly benefit while on claim.
Catastrophic Disability An additional monthly benefit is paid if you cannot perform two or more Activities of Daily Living.
Extended Benefits Additional benefit options increase the coverage or pay longer benefit periods.
Student Loan Protection Pays an additional benefit, up to $2000 per month, to cover qualified student loans.
Retirement Protection An additional benefit to replace contributions to eligible retirement plans.
Unemployment Waiver of Premium Allows you to waive the premiums while on unemployment.
Social Insurance Substitute Part of the monthly benefit could be reduced if you qualify for social security disability.

*Subject to availability based on individual applicant’s personal profile.

Last updated on Oct 5th 2017