Guardian Launches New Registered Index-Linked Annuity, Expanding Company’s Market Leading Retirement Annuity Business
April 2, 2024 by Guardian
Guardian MarketPerform™ is a next-generation annuity designed to help individuals balance retirement planning, growth potential, and a level of protection.
NEW YORK, March 27, 2024 /PRNewswire/ — The Guardian Life Insurance Company of America® (Guardian) has launched Guardian MarketPerform, a new Registered Index-Linked Annuity (RILA) designed to help individuals build their retirement assets with a level of protection.
Guardian MarketPerform is a long-term, tax-deferred retirement product with three unique features that allows those planning for retirement to:
- Limit exposure to market risk. Limit and in some cases avoid losses due to poor market performance, based on the amount of Buffer protection selected.
- Potential for investment growth. Track indices with upside potential, subject to a possible cap set in advance, enabling individuals to take advantage of market growth.
- Customize investments. Choose from a curated range of investment options to best support unique retirement planning goals, including Strategy Term1, Index Protection Strategy2, and which index or indices to track.
Guardian MarketPerform is the latest addition to the company’s suite of retirement-focused annuities, including its fixed index annuity, single premium deferred fixed annuity, single premium immediate annuity, and deferred income annuity. With over $3 billion in annuity sales in 2023 and listed as one of the fastest growing annuity carriers last year*, Guardian is a market leader in annuity sales and retirement planning.
Guardian’s annuities are designed to meet the evolving needs of those saving for retirement, which Guardian’s recent Mind, Body, and Wallet™ study suggests is a growing challenge for Americans. Specifically, the study found that stress around personal finance is at an all-time high, with having enough savings to last through retirement (51%) and having a guaranteed source of income during retirement (48%) as the most pressing concerns for individuals. Compounding these challenges is that the study indicated that while the majority (79%) of full-time working Americans have a retirement plan, many are prioritizing immediate financial needs—leaving them potentially under-prepared to enjoy their post-retirement years.
“Over the past few years, Guardian has invested significantly in building a meaningful retirement business that supports clients’ well-being by helping them balance growth potential and a level of protection for their retirement assets. One strategic investment product for doing that, especially in today’s uncertain economic environment, may be a RILA like Guardian MarketPerform,” said Michael Ferik, Head of Individual Markets at Guardian. “Our growing suite of product offerings, however, is just one component of our commitment. As an extension of our investment, we’re also helping to empower financial professionals and clients alike with the resources they need—from a digital tool to educational materials—to engage in important conversations and navigate the complex world of retirement planning and products together.”
For more information about Guardian MarketPerform, visit GuardianLife.com/annuities/RILA. A current prospectus for Guardian MarketPerform is available here.
About Guardian
Guardian makes a difference in the lives of people when they need us most. With over 160 years of stability and fiscal integrity, we are a trusted resource to generations of families and business owners, inspiring well-being and helping build financial confidence. Today, we stand behind millions of consumers, helping them prepare and plan for a bright future for themselves and their families. We help business owners care for their employees. And we help people recover and thrive in times of unexpected loss. As a modern mutual insurance company, we believe in driving value beyond dividends. We invest in our colleagues, are building an inclusive and innovative culture, and are helping to uplift communities through thoughtful corporate impact programs. Guardian, which is based in New York City, is a leading provider of life, disability, dental, and other benefits, and has received accolades for its culture and service. Our colleagues and financial professionals serve with care and experience, and our commitments rest on a strong financial foundation3, which included a 2024 dividend allocation of $1.398 billion – the largest in the company’s history4. For more information, visit guardianlife.com or follow us on Facebook, LinkedIn and YouTube.
For media inquiries, please contact: mediarelations@glic.com
This product is sold by prospectus only. Please read the prospectus carefully before investing or sending money. The prospectus contains important information regarding this product, including fees and expenses. A prospectus may be obtained by calling 888-Guardian (888-482-7342). To download a prospectus, please visit guardianlife.com. Guardian MarketPerform™ may not be available in all states.
Index Protection and Crediting Strategies are not a permanent part of the contract and may be removed due to circumstances beyond the control of GIAC. These circumstances and the special rules that govern how assets in a discontinued index interest account may be reallocated are outlined in the contract. We will not issue a Contract on February 29 in leap years. The Contract would be issued on the following business day.
If you do not remain invested in your IPCS options until the Term End Date, you could experience a loss that is greater than the level of protection the Protection Strategy provides or a gain that is lower than the return the Crediting Strategy provides on the Term End Date.
The renewal rates under each Strategy are based on the economic environment at the time renewal rates are declared and may be less favorable than those declared at issue. Renewal rates may be reduced as the contract approaches the end of the surrender charge period.
All guarantees are backed exclusively by the strength and claims paying ability of The Guardian Insurance & Annuity Company, Inc. (GIAC). Guardian MarketPerform™ is issued by GIAC, a Delaware corporation, and distributed through Park Avenue Securities LLC (PAS). GIAC and PAS are wholly owned subsidiaries of The Guardian Life Insurance Company of America (Guardian). Guardian, GIAC and PAS are located at 10 Hudson Yards, New York, NY 10001. Product availability and features may vary by state.
Guardian MarketPerform™ products are issued on contract forms 23-RILA, 23-RILA BUFFER, 23-RILA FRS, 23-RILA ROPDB, 23-RILA WSC, 23-RILA STRATEGY SPEC (or state equivalent forms). Product availability and features may vary by state.
GUARDIAN® and the Guardian Logo® are registered trademarks of The Guardian Life Insurance Company of America. ©Copyright 2023 The Guardian Life Insurance Company of America, New York, N.Y.
1 The amount of time between the Term Start Date and Term End Date of a Strategy. Strategy Terms can be for 1, 3 or 6 years.
2 These are your allocation options. You can select different IPCSs. Each will have its own Strategy Term, Index, Buffer Rate, and Strategy Credit.
3 Financial information concerning Guardian as of December 31, 2022, on a statutory basis: Admitted assets = $76.0 billion; liabilities = $67.2 billion (including $55.0 billion of reserves); and surplus = $8.8 billion.
4 Dividends are not guaranteed. They are declared annually by Guardian’s Board of Directors.
*LIMRA LOMA — Third Quarter 2023 U.S. Individual Annuity Sales Industry Report
SOURCE Guardian
