Do you know the whole life story?

4 MIN READ | #blog

Change comes at us from every angle as people update and upgrade everything from their diets to their devices, seemingly every day. When we enter adulthood as a young professional, we never imagine that we’re only a couple dozen phones or a handful of trendy diets from marriage, parenthood, or even retirement. Diets and devices can be great, but not all change is good, right? At every stage of life, financially confident people know that they can embrace the good and help protect against the not-so-good with solutions designed to do just that. Enter: whole life insurance. Not just your parents’ insurance, whole life can actually help support and protect you no matter where you are in life, with benefits that grow with you. 

The beginning: Young professionals

When we’re young and focused on our dreams, we rarely consider the possibility of an unexpected, devastating change. What would happen if you died prematurely? It may be unsettling to think about, as it would be very painful for your family, but it’s important to realize the financial impact it could have as well.

As you pay into your whole life insurance policy, it accumulates cash value in addition to providing a death benefit.1 The ultimate goal of the money is to provide financial protection for your loved ones in the event of your death. Along the way, however, you can still benefit from the accrued cash value. Whole life can be used to help fund improvements for your life today, such as buying a new home. It can also be used to fund or grow a business.2

One in four Americans said they thought about starting a business despite the pandemic, and that figure jumped to 37% among millennials.So, whether you’re getting a new business off the ground, or upgrading from your basement to main street, the cash value from your policy can help to move your business forward.

Tying the knot: Newlyweds

Imagine you are about to walk down the aisle. You and your best friend go out on the town for one last night of single bonding. You express your hopes (and concerns) for the future. Will I be a good spouse? Are my financial priorities lined up? They share some insights-they have whole life insurance. “That’s so morbid,” you say. “Why are you bringing up life insurance? Are you trying to kill me?” “No — but it’s important to ensure your future family is protected, and it also grows cash value.”

Getting serious: Parenthood

You and your spouse have taken the plunge: Your first child is on the way. The life you’ve built isn’t just your own anymore — you want to protect what you have so it will last after you’re gone and help to build generational wealth for your children down the road If you’re like many who have a protection-first philosophy, you’re a big saver, a key part of a protection-first mindset. For instance, many young couples prioritize the need to pay off debt. But if you pay off debt without building protection, you and your family can go right back into debt when something unexpected happens. Whole life insurance is one way to help financially weather a crisis, build cash value in the process, and establish a legacy for your children.

With whole life insurance, at least you can help protect your family from financial distress. If you have student loans or credit card debt, whole life insurance guarantees4 a death benefit to your loved ones, regardless of when you die, and can help cover your debts. With whole life insurance, you are covered for your entire life. Assuming you pay the monthly premium in a timely manner, your family will receive payments after your death.

Winding down: Retirement

Imagine that decades have passed. You’ve had a great career, raised a beautiful family, and now it’s time to retire. Your spouse is worried that you aren’t prepared, but you know you’ve made a financial strategy and stuck to it. “The night before our wedding, my best friend convinced me to buy whole life insurance,” you explain to your spouse, “and it set me on a path of financial confidence that I’m still walking today. One of the most important drinks of my life.”

Whole life can be an attractive asset because it’s insulated from the volatility of the stock market. Its cash value grows at a healthy rate, and over a lifetime it can add a balance of both stability and reward to any portfolio. Our expenses, unfortunately, don’t end in retirement. The cash value of whole life can help cover those expenses, or help fund those hobbies you’ve been waiting to enjoy. Learn more about how whole life can work as a financial tool in retirement here. It’s often been said that “the only constant in life is change.” Whole life insurance (and the guidance of a financial professional) can help us anticipate change and prepare for it.

Brought to you by The Guardian Network © 2018, 2022.  The Guardian Life Insurance Company of America®, New York, NY

2022-142166 Exp. 08/2024

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1 Dividends are not guaranteed. They are declared annually by Guardian’s Board of Directors. Some whole life polices do not have cash values in the first two years of the policy and don’t pay a dividend until the policy’s third year. Talk to your financial representative and refer to your individual whole life policy illustration for more information.

2 Policy benefits are reduced by any outstanding loan or loan interest and/or withdrawals. Dividends, if any, are affected by policy loans and loan interest. Withdrawals above the cost basis may result in taxable ordinary income. If the policy lapses, or is surrendered, any outstanding loans considered gain in the policy may be subject to ordinary income taxes. If the policy is a Modified Endowment Contract (MEC), loans are treated like withdrawals, but as gain first, subject to ordinary income taxes. If the policy owner is under 59½, any taxable withdrawal may also be subject to a 10% federal tax penalty.


4 All whole life insurance policy guarantees are subject to the timely payment of all required premiums and the claims-paying ability of the issuing insurance company. Policy loans and withdrawals affect the guarantees by reducing the policy’s death benefit and cash values.


The Guardian Network® is a network of preferred providers authorized to offer products of The Guardian Life Insurance Company of America (Guardian), New York, NY and its subsidiaries.