New Guardian Term Life Policy Offers a Charitable Donation Feature
May 27, 2020 by Allison Bell
The Guardian Life Insurance Company of America has introduced a term life insurance policy with a built-in charitable benefit rider.
The New York-based mutual life insurer says the new Guardian Level Term policy includes a rider that can pay 1% of the policy death benefit, up to a $100,000 limit, to the 501(c)(3) charity of the policy owner’s choice.
A policy owner can also use term life insurance to give to charity by naming the charity as a policy beneficiary, by transferring dividends to a charity, or by giving an in-force policy to a charity, Guardian says.
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