Guardian Life has introduced its Level Term life insurance product with the new built-in Charitable Benefit feature that allows those with a charitable mind to support their charity of choice upon their death.
Level pricing offered by the term insurance product for the duration of the policy will help create protection for families and the ability to create a charitable giving legacy.
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Term life offers a tax-free payout for beneficiaries, while the charitable benefit feature provides a donation, 1% of the policy face amount to the policy owner’s charity without any extra cost.
Guardian Life Insurance, Annuity and Underwriting Solutions head Andy Gordon said: “Guardian Level Term offers a unique opportunity that resonates with today’s charity-conscious client.
“Policy owners will have the ability to give to the charity of their choice without taking anything away from their beneficiaries.”
The built-in charitable giving feature of Guardian Life’s Level Term life insurance can be used to make a charitable contribution while also providing a payout to beneficiaries.
The charity selected by the owner must be a qualified 501 (c) (3) charity.
Furthermore, Guardian Level Term offers the ability and flexibility to convert to permanent protection.
The disability waiver of premium rider, terminal illness rider, and an extended conversion rider are the additional optional benefits offered by the product.
