Guardian’s SafeGuard360™ now available for sale

From Guardian:

Introducing the industry’s first-ever, single-product solution for clients, that combines life insurance, disability waiver, and Long-Term Care benefits for convenient and holistic protection

Product positioning and rider enhancements

Guardian’s SafeGuard360TM provides essential financial protection for the life of your client in a single product solution. The product is offered through a streamlined application process and provides quality, convenient, and easy-to-understand coverage. It builds and enhances wealth, while also offering guarantees and tax advantages.1 Benefits built into the product help protect against unforeseen circumstances.

Benefit Description

Life insurance benefit

• SafeGuard360TM has a base product platform designed to provide long-term cash value and death benefit performance.

• The platform is Guardian’s Whole Life Paid Up at 99. It offers protection and guarantees that can help build and conserve wealth, while protecting assets for future generations.

Income protection benefit

• Disability income insurance replaces a portion of your client’s income with a monthly disability benefit when they’re too sick or injured to work.

Assistance with daily living benefit

• Accelerated death benefit for Long-Term Care services rider

  • Automatically included

  • At an additional cost, this rider offers the potential to receive income tax-free benefit payments by accelerating a portion of the policy’s face value amount when the insured is receiving qualified long-term care services

• Accelerated death Benefit for terminal illness rider

  • Automatically included

  • Provides access to a lump-sum portion of the death benefit in the event that the insured is diagnosed with a terminal illness

Waiver protection benefit

• Disability waiver of premium

• Waives all base policy rider premiums (excluding PUA) in the event of disability

• Benefit begins after 90 days of continuous total disability

• The benefit may continue after the disability benefit period ends if the insured is totally disabled

• This benefit has a two-year true- own occupation definition of total disability with an additional three years of modified own-occupation

Lifetime waiver enhancement benefit

• Waives all base policy and rider premiums (excluding PUA) in the event of disability

• Benefit can continue to waive policy premium for life if certain conditions are met

• As of launch, SafeGuard360TM is approved for sale in all states except California

Disability income rider

• Provides a monthly benefit when the insured becomes disabled

• Pays 100% of the monthly disability benefit if the insured is unable to work at all; or pays a percentage of the monthly disability benefit if they insured is only able to work part time

Disability waiver of premium

• Waives all base policy rider premium (excluding PUA) in the event of disability

• Benefit begins after 90 days of continuous total disability 
  (see producer guide for definition of total disability)

• The waiver benefit may continue at the end of the 5-year Disability income period if and while the insured is totally disabled

Accelerated death benefit Long-Term Care services rider and terminal illness rider

• Indemnity benefit qualified under internal revenue code (IRC) Sec. 7702B, rather than a reimbursement benefit allowing greater flexibility and control over benefits

• Covered services include long-term care facility, assisted care facility or home health care

• A lump-sum portion of the death benefit is accessible in the event that the insured is diagnosed with a terminal illness

New: Where approved, SafeGuard360TM uses the latest version of the Long-Term Care services rider.

• Under the lifetime waiver enhancement benefit, policy premiums may be waived for life if:

• Total disability begins before age 60, and

• Total disability continues to age 65, and

• Policy premiums were waived between ages 60 and 65