Guardian Introduces More Flexible Living Benefit Options to Variable Annuity Offering
New Enhancements Help Investors Meet individual Retirement Income Goals
NEW YORK, May 16, 2011 —The Guardian Insurance & Annuity Company, Inc. (GIAC) unveiled a series of new enhancements to its optional living benefit within the variable annuity offering, designed to help clients better face the challenges of their evolving retirement needs. The new features are available with variable annuities issued by GIAC. GIAC is a wholly-owned subsidiary of The Guardian Life Insurance Company of America (Guardian).
The new enhancements to the Guaranteed Lifetime Withdrawal Benefit (GLWB) rider within The Guardian Investor Variable Annuity products include an increase to the frequency of its Guaranteed Withdrawal Balance step-up feature to quarterly opportunities, from annually. GIAC has also added a new GLWB optional death benefit for individuals who wish for their heirs to receive the premiums paid into the contract, but not have this benefit adjusted for any guaranteed rider withdrawals. This is an additional death benefit offering to the optional GLWB Step-Up death benefit (which is adjusted for any withdrawal) that GIAC offers to those who wish to have their death benefit increase by quarterly step-up opportunities driven by potential market performance.
GIAC has also expanded clients’ choices so in addition to the three GLWB allocation models, GIAC will now offer a new growth allocation model that allows for an individual to have 70% equity exposure and 30% fixed income exposure. The underlying funds in this new model are managed by two of today's most highly regarded and experienced investment firms, Invesco and PIMCO.
“Guardian is consistently looking to do what’s best for the clients and financial professionals we serve and we’re committed to paying close attention to their needs as well as to market conditions in order to continue providing competitive products,” said Douglas Dubitsky, vice president of Product Management for the Retirement Solutions division of Guardian. “We recognized the increasing need for financial protection with the opportunity for accumulation that’s there when our clients need it in retirement. These new options can serve a variety of clients to help meet his or her retirement goals. These new benefits offer our clients more flexibility in inflexible times, from one of the most secure providers in the industry today.”
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The Guardian Life Insurance Company of America
A mutual insurer founded in 1860, The Guardian Life Insurance Company of America and its subsidiaries are committed to protecting individuals, business owners and their employees with life, long term care insurance, disability income, dental insurance products, and offer 401(k), annuities and other financial products. Guardian operates one of the largest dental networks in the United States, and protects more than six million employees and their families at 120,000 companies. The company has approximately 5,000 employees in the United States and a network of over 3,000 financial representatives in more than 80 agencies nationwide.
For more information about Guardian, please visit: www.GuardianLife.com .
The Guardian Insurance & Annuity Company, Inc., a Delaware corporation that is a wholly-owned subsidiary of Guardian, issues variable insurance contracts such as variable life insurance and variable annuities; fixed annuities; and funding vehicles for 401(k) plans. All guarantees are backed exclusively by the strength and claims-paying ability of GIAC. Variable account assets are held in separate accounts. Variable products are distributed by Guardian Investor Services, LLC. (GIS). GIS is a wholly-owned subsidiary of Guardian. GIAC and GIS are located at 7 Hanover Square, New York, NY, 10004. GIS is a member of FINRA, SIPC. Variable products: Are Not a Deposit - Are Not FDIC or NCUA Insured - May Lose Value - Are Not Bank or Credit Union Guaranteed.
The Guardian Investor Variable Annuities are issued by The Guardian Insurance & Annuity Company, Inc, which has consistently received exemplary ratings from the four major rating agencies. Ratings as of March 31, 2011 are: A.M Best rating of A++, Fitch Ratings rating of AA+, Moody's Investors Service rating of Aa2, and Standard & Poor's rating of AA+. Ratings are subject to change and do not apply to the underlying investment options contained in the annuity.
Variable annuities are long-term investment vehicles that involve certain risks, including possible loss of the principal amount invested. The investment return and principal value may fluctuate so that the investment, when redeemed, may be worth more or less than the original cost.
Electing a Guaranteed Lifetime Withdrawal Benefit or the GLWB Optional Death Benefit entails additional costs. Please see the prospectus for a discussion of specific fees, requirements, restrictions, availability and other information.
Variable annuities and their underlying variable investment options are sold by prospectus only. Prospectuses contain important information, including fees and expenses. Please read the prospectus carefully before investing or sending money. You should consider the investment objectives, risks, fees and charges of the investment company carefully before investing. The prospectus contains this and other important information. To obtain a fund prospectus, please contact your investment professional or call 800.221.3253. To download a contract or fund prospectus, please visit www.GuardianInvestor.com.
Invesco is a leading independent global investment manager, dedicated to helping investors worldwide achieve their financial objectives. By delivering the combined power of our distinctive investment management capabilities, Invesco provides a wide range of investment strategies and vehicles to our retail, institutional and high net worth clients around the world. Operating in more than 20 countries, the company is listed on the New York Stock Exchange under the symbol IVZ.
PIMCO is a leading global investment management firm, with offices in 10 countries throughout North America, Europe and Asia. Founded in 1971, PIMCO offers a wide range of innovative solutions to help millions of investors worldwide meet their needs. Our goal is to provide attractive returns while maintaining a strong culture of risk management and long-term discipline. PIMCO is owned by Allianz Global Investors, a subsidiary of the Munich-based Allianz S.E., a leading global diversified financial services provider.