The Guardian Life Evolution is an equity-linked, universal life plan with a level cost of insurance charges. The plan provides coverage for insurance protection, 8 critical illnesses and offers the opportunity to invest in five funds through which one can accumulate funds for that special purpose. Its purpose is to provide funds for protection, retirement, estate planning, business insurance and education. The minimum coverage is $4,500,000 and the issue age is between 0 to 70 years. The current minimum coverage for all ages is $3,500,000. This amount may be changed from time to time at the discretion of Guardian Life Limited. Subject to the provision of evidence of insurability, there is no maximum coverage.

Optional Rider Coverage

For an extra premium, the New Life Plus Critical Illness Rider, a five-year renewable & convertible term rider, waiver of premium, parental waiver of premium and accidental death & disablement riders, may be added.

Death Benefit

The amount payable upon death is the sum assured plus the value of the accumulated units in the investment Funds. If death is by suicide within two years of issue or reinstatement of the policy, the death benefit will be limited to the surrender benefit.

Surrender Benefit

The amount payable is the value of the units allocated to the policy less a surrender charge.

Maturity Benefit

The plan matures at age 100 with the amount payable being the Sum Assured and the accumulated value of the units.

Non-Payment of Premiums

If a premium is not paid within the 30 days grace period, units from the Funds will be automatically surrendered to pay premiums. Once the units have been exhausted, the policy will lapse and all benefits will cease.