GUARDIAN LIFE NEWS
Press Release

Guardian Introduces QLAC to Help Americans Manage Longevity Risk

NEW YORK, N.Y., August 19, 2015 — The Guardian Insurance & Annuity Company, Inc. (GIAC), a wholly-owned subsidiary of The Guardian Life Insurance Company of America® (Guardian), recently introduced its first Qualifying Longevity Annuity Contract (QLAC) for The Guardian SecureFuture Income Annuity SM.  Now individuals can designate a portion of their Individual Retirement Account (IRA) assets for use later in retirement so that these funds will not be subject to required minimum distributions (RMDs) beginning at age 70½.

As Americans’ life expectancy continues to rise, there are growing fears of outliving savings and a heightened need for guaranteed lifetime income solutions. At the same time, many baby boomers are working longer and do not have an immediate income need for the RMD funds. Guardian SecureFuture Income Annuity SM with the QLAC option addresses these issues by allowing clients to defer a portion of their IRA income up to age 85.

 “The first wave of baby boomers will be required to start withdrawing from their retirement accounts in 2016.  Many of them will not need this income immediately and will actually experience an increase in their taxable income as a result. Guardian’s QLAC enables them to set aside a portion of assets to access much later in their retirement years,” said Douglas Dubitsky, Vice President at Guardian Retirement Solutions. “Since you cannot predict how long your retirement will last, Guardian’s QLAC helps insure a steady source of income will be available for future needs.”

To learn more about the retirement planning process please visit https://www.GuardianLife.com/My-Retirement. 

About Guardian

The Guardian Life Insurance Company of America® (Guardian) is one of the largest mutual life insurers with $7.3 billion in capital and $1.5 billion in operating income (before taxes and dividends to policyholders) in 2015.  Founded in 1860, the company has paid dividends to policyholders every year since 1868.  Its offerings range from life insurance, disability income insurance, annuities, and investments to dental, vision, and 401(k) plans. The company has approximately 8,000 employees and a network of over 3,000 financial representatives in more than 70 agencies nationwide. For more information, visit Guardian’s Facebook page: https://www.facebook.com/GuardianLife/, and Twitter: @GuardianLife.

Financial information concerning The Guardian Life Insurance Company of America as of December 31, 2015 on a statutory basis: Admitted Assets = $48.1 Billion; Liabilities = $42.0 Billion (including $37.0 Billion of Reserves); and Surplus = $6.1 Billion..  Dividends are not guaranteed. They are declared annually by Guardian’s Board of Directors. 

About Retirement Solutions™

The Guardian Insurance & Annuity Company, Inc. (GIAC) issues variable insurance contracts such as variable annuities and variable life insurance; fixed annuities; and 401(k) funding vehicle products. Guardian Retirement Solutions™ refers to the administrative support services, including participant recordkeeping as well as marketing, enrollment and educational materials, provided by GIAC. For more information about retirement planning please visit www.401k.GuardianLife.com or www.MyRetirementWalk.com.