Guardian Life Announces $1.13B Dividend Payment To Policyholders

NEW YORK, Dec. 9, 2021 /PRNewswire/ -- The Guardian Life Insurance Company of America (Guardian®) today announced its Board of Directors approved a $1.13 billion dividend allocation to its eligible individual life policyholders in 2022, the largest payout in the company's 161-year history. The dividend interest rate will be 5.65% in 2022, consistent with the 2021 rate.

Guardian's dividend is driven by its strong long-term investment focus, sound underwriting, prudent expense management, and earnings from complementary businesses.

"Guardian is proud to pay another record dividend to our eligible policyholders. Our consistent dividend payout is a testament to Guardian's mutuality, our financial strength, and our diversified business strategies," said Guardian's Chief Executive Officer and President Andrew McMahon. "Guardian's unwavering commitment to our policyholders' well-being is at the core of our purpose, and the dividend is a fundamental part of that commitment."

Guardian's focus on preparing customers for the future has consistently helped the company deliver outstanding results and continue to provide excellent customer service. Notable accomplishments during this year:

• J.D. Power recognized Guardian Life for the 11^th consecutive year for providing "An outstanding customer service experience" for phone support.
• Extended capabilities for customers to protect their families with disability insurance for non-working spouses¹ and introduced a first of its kind care conversion rider² to term life insurance.

"The COVID-19 pandemic and the economic uncertainty in its wake continue to present many challenges, but Guardian remains successful because of our unique long-term alignment with our policyholders. We were built not only to withstand these disruptions, but to thrive and deliver on our promises for generations to come," said McMahon.

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About Guardian

Every day, Guardian provides Americans the security they deserve through our insurance and wealth management products and services. Since our founding in 1860, our long-term view has helped our customers prepare for whatever life brings whether starting a family, planning for the future or taking care of employees. Today, we're a Fortune 250 mutual company and a leading provider of life, disability, dental, and other benefits for individuals, at the workplace and through government sponsored programs. The Guardian community of over 9,000 employees and our network of over 2,500 financial representatives is committed to serving with expertise when, where and how our clients need us. Our commitments rest on a strong financial foundation, which at year-end 2020 included $9.5 billion in capital and $1.7 billion in operating income. For more information, please visit guardianlife.com or follow us on Facebook, LinkedIn, Twitter and YouTube.

For inquiries, please contact:
mediarelations@glic.com

GUARDIAN® and the Guardian Logo® are registered trademarks of The Guardian Life Insurance Company of America. ©Copyright 2021 The Guardian Life Insurance Company of America, New York, N.Y. 2021-130809 Exp. 12/23

Dividends are not guaranteed. They are declared annually by Guardian's Board of Directors. The total dividend calculation includes mortality experience and expense management as well as investment results.

Financial information concerning Guardian as of December 31, 2020, on a statutory basis: Admitted Assets= $68.1 Billion; Liabilities = $60.3 Billion (including $48.9 Billion of Reserves); and Surplus = $7.8 Billion.

¹ Individual disability income products underwritten and issued by Berkshire Life Insurance Company of America (BLICOA), Pittsfield, MA or provided by Guardian. BLICOA is a wholly owned stock subsidiary of and administrator for the Guardian Life Insurance Company of America (Guardian), New York, NY. Product provisions and availability may vary by state.

² Riders may incur either an additional premium or cost. Rider benefits may vary or may not be available in all states.

Policy form numbers: 20-GLT
Conversion Care Option Rider: 20-CCOR

Guardian Level Term is issued by The Guardian Insurance & Annuity Company, Inc. (GIAC), a Delaware corporation whose principal place of business is 10 Hudson Yards, New York, NY 10001. 1 888 GUARDIAN (1 888 482 7342).

GIAC is a wholly owned subsidiary of The Guardian Life Insurance Company of America

J.D. Power 2021 Certified Customer Service Program^SM recognition is based on successful completion of an evaluation and exceeding a customer satisfaction benchmark through a survey of recent servicing interactions. For more information, visit www.jdpower.com/ccc.

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SOURCE Guardian