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FAQs

We’ve got the answers to your common questions.

For Individuals & Families

Do I need life insurance?

If you want peace of mind that, in the event of your passing, your loved ones will be financially secure, you may want to consider life insurance.

Our life insurance products can help:

  • Pay final expenses
  • Protect your family from financial loss
  • Pay off debts
  • Replace income
  • Create college funds
  • Pay medical expenses
  • Create an estate
  • Retirement planning

How much life insurance do I need?

Everyone’s financial goals, concerns, and needs are different. Here are a few questions to ask yourself when deciding what insurance policy is best for you:

  1. Who do I want to protect?
  2. How long will they need financial support?
  3. Does anyone have a disability or other specific needs?
  4. How much debt do I have?
  5. How much savings do I have?
  6. Am I planning on contributing to any child’s college education?
  7. Will my partner or spouse need help funding their retirement?
  8. What are my financial goals for my life insurance?

After answering these questions, give us a call or reach out to one of our brokers or agents to discuss your options. Life insurance is typically the second largest financial investment you’ll make in your lifetime, second only to the purchase of a home. We want to help you maximize your investment.

What kind of life insurance is best for me?

Generally speaking, you can break down life insurance into two main categories:

Whole life insurance is a permanent life insurance that provides coverage for your entire life, as long as your policy is in force. This means it requires premiums to be paid for as long as the insured lives or on a payment schedule, ranging from 8–30 years for fully paid coverage. Unlike most Term life insurance policies, Whole life insurance policies accumulate cash values.

Term life insurance provides protection for a specific period of time. Unlike other policies, term life insurance generally does not generate cash values and is usually the most affordable life insurance protection. Because of this, it is usually the least expensive means of protection and a good starting point for younger policyholders. As your income increases, you might consider purchasing more comprehensive coverage. In such cases, you can choose to convert your existing term life insurance to a whole life policy.

Everyone has unique needs, so it’s best to talk to one of our agents or brokers to figure out exactly what’s best for you.

Should I purchase life insurance for my spouse and children?

Generally, we recommend that the first person to get life insurance is the main income earner of your family. This makes sure that your spouse and children are fully protected before you decide to buy additional insurance. For households with dual incomes, it’s important to protect the income capacity of both spouses. It’s also common to buy life insurance for a non-wage-earning spouse to protect the family from unexpected childcare and household expenses.

How often should I review my life insurance coverage?

Your life insurance coverage should reflect important changes that occur in your life, such as marriage, the birth of a child, or a new job. Aside from these significant life events, it’s recommended to review your life insurance coverage annually with a sales professional.

How can I contact customer service regarding my policy?

If you need assistance or have questions about your Pacific Guardian Life insurance policy, you can call, email, visit or fax our Client Relations Department or contact your Pacific Guardian Life representative.
**For claims, see the death and disability claims contact information to contact the Claims Department directly.

Client Relations Department
Pacific Guardian Life Insurance Company
Pacific Guardian Tower
1440 Kapiolani Boulevard, Suite 1700
Honolulu, Hawaii 96814-3698

Toll-Free Phone Number:
Phone: (800) 432-3306
Fax: (800) 946-1295

On Oahu:
Phone: (808) 942-1212
Fax: (808) 942-1295

Hours of Operation:
Monday through Friday
7:00 a.m.–5:00 p.m. HST

Email Address:
[email protected]

Please note: This material is being provided for information purposes only. Neither Pacific Guardian Life nor its representatives provide legal, tax or accounting advice. Please contact your own advisors for legal, tax or accounting advice.

How can I pay my premium?

Pacific Guardian Life offers premium payment options of automatic withdrawal and direct billing.

  • Automatic Withdrawal/EFT: Also referred to as Electronic Funds Transfer (EFT) or bank draft, automatic withdrawal is the most convenient way to pay your premium.
    • Please provide us with a completed Bank Authorization Form 
    • Please provide a check or savings account number from which you want the premium withdrawn from.
    • To cancel your EFT: contact our Client Relations Department by phone or notify us in writing, by email or fax.
  • Direct Billing
    • Pacific Guardian Life will mail you a billing notice if you elect a quarterly, semi-annual or annual mode.
    • Direct billing is not available for monthly mode.

How do I change my bank?

To change the bank where payments are withdrawn, please:

  • Contact our Client Relations Department or notify us in writing, email or fax
  • Indicate what changes you would like to make.
    • If necessary, we will send you the proper forms to complete.
  • Complete a Bank Authorization Form and return it to Pacific Guardian Life with a voided check.
  • Please also provide the following:
    • Name of policy owner
    • Policy number
    • Name of new bank
    • New bank account number
    • Bank transit/routing number

How can I change my current premium payment mode?

To change your current premium payment mode, contact our Client Relations Department or your Pacific Guardian Life representative. Please have your policy number and the last four digits of your Social Security number available.

Is there a grace period?

We allow a 31-day grace period for paying any premium after the initial premium is paid and this policy shall remain in force during the policy period. If the insured passes during this period, we will deduct any overdue premium from the death benefit proceeds before we make payment to the beneficiary(s).

What happens if I don’t pay my premium when it’s due?

If premiums are not paid within the grace period and your policy does not have a cash value, your policy will terminate at the end of the grace period. However, if your policy has built cash value, you may be able to take advantage of your policy’s non-forfeiture options, which you selected when the policy was issued.

Please note: This material is being provided for information purposes only. Neither Pacific Guardian Life nor its representatives provide legal, tax or accounting advice. Please contact your own advisors for legal, tax or accounting advice.

How can I skip a premium payment?

Premium payments are flexible on Universal Life plans. This means you can choose the amount and frequency of payments. Premium payments can be skipped if the policy has enough cash value to cover the monthly cost of insurance. If the policy is on monthly bank draft deductions, contact our Client Relations Department or notify us in writing or by email to skip your automatic monthly bank drafts, and indicate when the bank drafts should be resumed.

Universal Life Reminder Notices

When the accumulated value of the policy (less any outstanding policy loan on a deduction day) is not enough to meet the monthly deduction due for the current month, we will send you a Universal Life Reminder Notice advising you of the amount needed to keep the policy in force. The policy will remain in force during the 61-day grace period. If the amount needed is not received by the end of the grace period, the policy will terminate.

How do I file a death claim?

To file a death claim, contact your Pacific Guardian Life representative or our Claims Department:

On Oahu:
942-1331 or 942-1212

Toll Free:
1-800-432-3306

Email:
[email protected]

Please have the following information ready:

  • Insured’s name
  • Insured’s date of birth
  • Insured’s date of death
  • Policy number(s)

If you are not the beneficiary, you may be asked for the beneficiary’s contact information. After the call, the claims representative will send the claims packet along with a cover letter advising you of the requirements for processing the claim. Typically, these requirements include:

  • a request for a certified (original) copy of the Insured’s death certificate
  • the completed claim form
  • a completed W9 Form from each beneficiary.

In the event the insured resided in a foreign country at the time of death, additional requirements will be requested. If the beneficiary is an estate, Letters of Administration showing the named executor of the estate will be necessary.

How can I find out who is the current beneficiary of my policy?

Contact our Client Relations Department to find out the current beneficiary designation of your policy.

How can I change the beneficiary on my policy?

To change the beneficiary on your policy, complete and return an original Beneficiary Change Request Form. Refer to the Policy Changes Section for signature requirements.

Can the death benefit proceeds be paid directly to a funeral home for expenses?

Yes, if a beneficiary wishes to have the proceeds paid directly to a funeral home, the funeral home must complete an Assignment of Life Insurance Proceeds Form and this must be submitted with the applicable claim forms. The funeral assignment form will need to be signed by each beneficiary who wishes to relinquish all or a portion of their benefits to pay the funeral expenses.

How long will it take for the beneficiary to receive the check?

Upon receipt of all claim requirements from each beneficiary, death claims are processed as quickly as possible, usually within three working days.

What if the beneficiary is a minor?

If the beneficiary is a minor, policy proceeds cannot be paid directly to the minor. The benefits must be paid to the legal guardian of the minor’s property. Documentation designating the legal guardian will be requested with the claim. If no legal guardian has been appointed, the minor’s portion of the death claim proceeds will be held by the company in an interest-bearing contract until the minor attains the age of majority.

If the primary beneficiary is also deceased, who gets the benefits and who should file the claim?

In most cases, benefits would be payable to the contingent beneficiary listed in the policy. If there is no contingent beneficiary listed, it may be payable to the estate of the deceased insured or the estate of the deceased primary beneficiary, depending on who passed first.

How do I file a claim for waiver of benefits if the insured is disabled?

You may contact our Claims Department to verify if the policy contains a waiver provision and if the insured would qualify for waiver benefits. It is best to contact the Claims Department for answers specific to your situation.

Please note: This material is being provided for information purposes only. Neither Pacific Guardian Life nor its representatives provide legal, tax or accounting advice. Please contact your own advisors for legal, tax or accounting advice.

How can I surrender or cancel my policy?

Please submit a Full or Partial Surrender Request Form (Refer to the Policy Changes Section for signature requirements).  Once a policy is surrendered, it is not eligible for reinstatement.

Because surrendering a policy could have tax or financial implications, please consult your tax advisor to determine if surrendering your policy is right for your financial situation. Some policies will incur a surrender charge to cover administrative costs. See your policy provisions for details.

If you would like your surrender check to be sent to or picked up by your agent or someone other than yourself, please complete the Check Authorization Form.

Please note: This material is being provided for information purposes only. Neither Pacific Guardian Life nor its representatives provide legal, tax or accounting advice. Please contact your own advisors for legal, tax or accounting advice.

(available only on Universal Life and Annuities)

How can I request a partial withdrawal?

Please submit a Full or Partial Surrender Request Form.

If you would like your partial surrender check to be sent to or picked up by your agent or someone other than yourself, please complete the Check Authorization Form.

Please note: This material is being provided for information purposes only. Neither Pacific Guardian Life nor its representatives provide legal, tax or accounting advice. Please contact your own advisors for legal, tax or accounting advice.

How can I apply for a policy loan?

Please submit a Loan Request Form.  

If you would like your loan check to be sent to or picked up by your agent or someone other than yourself, please complete the Check Authorization Form.

How does loan interest affect my policy?

Loan interest accrues daily and is billed annually until a loan is repaid. Unpaid loan interest is added to the principal and continues to accrue and compound. This may result in the loan exceeding the cash value of the policy. If this happens, a loan payment will need to be made to avoid termination of coverage and a potential taxable gain.

Do I have to repay my policy loan?

No, you are not required to repay the loan. However, the amount of the loan, plus any unpaid interest, will be deducted from the death benefit. This means your beneficiaries will not receive the full amount you intended them to have.

Interest is also charged on a policy loan and will be charged as long as the loan is unpaid. If the annual loan interest is not paid when due, the loan will increase by the amount of the unpaid interest. Once the loan balance exceeds the value in your policy, a notification letter will be sent to you, providing 31 days to reduce the policy loan balance.

If the loan is still outstanding when you surrender your policy or it lapses, the amount of the loan (including interest due) will be considered taxable income to the extent there is gain on the policy.

Is there a benefit to repaying my policy loan?

Yes, the benefit of repaying the policy loan is that the death benefit will be restored to the extent of the loan repayment. The policy cash value also will increase.

How can I repay my loan?

To repay a policy loan, contact our Client Relations Department or your Pacific Guardian Life representative to set up a loan repayment plan.

The loan may be repaid in installments, a lump sum or by Electronic Fund Transfer (EFT).

  • Installments: Choose the amount (not less than $25) and the frequency of payment and mail the payments to the company.
  • Lump-sum payment: Repay the loan all at once.
  • EFT: The loan repayment will automatically be deducted from your checking or savings account monthly.

What is the difference between a loan and a withdrawal?

A loan can be repaid, and the death benefit is restored to the extent of the loan. A withdrawal cannot be repaid as it is a partial surrender of both the policy cash value and death benefit.

Loan interest is charged on an outstanding loan balance. There is no interest accrued for partial policy surrender, however, there may be an administrative charge for a partial surrender, depending on your plan.

If you would like your loan check to be sent to or picked up by your agent or someone other than yourself, please complete the Check Authorization Form.

Please note: This material is being provided for information purposes only. Neither Pacific Guardian Life nor its representatives provide legal, tax or accounting advice. Please contact your own advisors for legal, tax or accounting advice.

Whose signature is required to make a policy change?

When making policy changes, we may require certain signatures depending on the policy ownership:

  • Individually owned: Signature(s) of all policy owners
  • Corporate-owned: Signatures of one officer (other than the insured) and corporate seal or copy of Corporate Resolution
  • Trust-owned: Signature(s) of all designated trustee(s)
  • Estate-owned: Signature of the court-appointed representative, including a copy of the court documents appointing the representative

How can I change the ownership of my policy?

To change the ownership of your policy, please complete and return a Change of Ownership Form by mail, e-mail or fax. Signatures of previous and new policy owners are required. If the payor changes, this should be indicated on the change form as well.

How can I change my name, address, phone number, etc.?

To change your contact information, please complete and return a Contract Information Update Form by mail, e-mail, or fax.

How can I reinstate my lapsed policy?

To reinstate your lapsed policy, please contact our Client Relations Department. If your policy is eligible for reinstatement, we will provide a quote of back premiums due. Please complete and return an original Policy Reissue and Reinstatement Application Form and a HIPAA Compliant Authorization Form. You also must send a check for all past-due premiums to begin the reinstatement process.

Please note: This material is being provided for information purposes only. Neither Pacific Guardian Life nor its representatives provide legal, tax or accounting advice. Please contact your own advisors for legal, tax or accounting advice.

What are the Diamond Head MYGA Rates?

The Diamond Head MYGA rates can be found here.

Please note: This material is being provided for information purposes only. Neither Pacific Guardian Life nor its representatives provide legal, tax or accounting advice. Please contact your own advisors for legal, tax or accounting advice.

For Individuals & Families

General

Do I need life insurance?

If you want peace of mind that, in the event of your passing, your loved ones will be financially secure, you may want to consider life insurance.

Our life insurance products can help:

  • Pay final expenses
  • Protect your family from financial loss
  • Pay off debts
  • Replace income
  • Create college funds
  • Pay medical expenses
  • Create an estate
  • Retirement planning

How much life insurance do I need?

Everyone’s financial goals, concerns, and needs are different. Here are a few questions to ask yourself when deciding what insurance policy is best for you:

  1. Who do I want to protect?
  2. How long will they need financial support?
  3. Does anyone have a disability or other specific needs?
  4. How much debt do I have?
  5. How much savings do I have?
  6. Am I planning on contributing to any child’s college education?
  7. Will my partner or spouse need help funding their retirement?
  8. What are my financial goals for my life insurance?

After answering these questions, give us a call or reach out to one of our brokers or agents to discuss your options. Life insurance is typically the second largest financial investment you’ll make in your lifetime, second only to the purchase of a home. We want to help you maximize your investment.

What kind of life insurance is best for me?

Generally speaking, you can break down life insurance into two main categories:

Whole life insurance is a permanent life insurance that provides coverage for your entire life, as long as your policy is in force. This means it requires premiums to be paid for as long as the insured lives or on a payment schedule, ranging from 8–30 years for fully paid coverage. Unlike most Term life insurance policies, Whole life insurance policies accumulate cash values.

Term life insurance provides protection for a specific period of time. Unlike other policies, term life insurance generally does not generate cash values and is usually the most affordable life insurance protection. Because of this, it is usually the least expensive means of protection and a good starting point for younger policyholders. As your income increases, you might consider purchasing more comprehensive coverage. In such cases, you can choose to convert your existing term life insurance to a whole life policy.

Everyone has unique needs, so it’s best to talk to one of our agents or brokers to figure out exactly what’s best for you.

Should I purchase life insurance for my spouse and children?

Generally, we recommend that the first person to get life insurance is the main income earner of your family. This makes sure that your spouse and children are fully protected before you decide to buy additional insurance. For households with dual incomes, it’s important to protect the income capacity of both spouses. It’s also common to buy life insurance for a non-wage-earning spouse to protect the family from unexpected childcare and household expenses.

How often should I review my life insurance coverage?

Your life insurance coverage should reflect important changes that occur in your life, such as marriage, the birth of a child, or a new job. Aside from these significant life events, it’s recommended to review your life insurance coverage annually with a sales professional.

How can I contact customer service regarding my policy?

If you need assistance or have questions about your Pacific Guardian Life insurance policy, you can call, email, visit or fax our Client Relations Department or contact your Pacific Guardian Life representative.
**For claims, see the death and disability claims contact information to contact the Claims Department directly.

Client Relations Department
Pacific Guardian Life Insurance Company
Pacific Guardian Tower
1440 Kapiolani Boulevard, Suite 1700
Honolulu, Hawaii 96814-3698

Toll-Free Phone Number:
Phone: (800) 432-3306
Fax: (800) 946-1295

On Oahu:
Phone: (808) 942-1212
Fax: (808) 942-1295

Hours of Operation:
Monday through Friday
7:00 a.m.–5:00 p.m. HST

Email Address:
[email protected]

Please note: This material is being provided for information purposes only. Neither Pacific Guardian Life nor its representatives provide legal, tax or accounting advice. Please contact your own advisors for legal, tax or accounting advice.

Premiums

How can I pay my premium?

Pacific Guardian Life offers premium payment options of automatic withdrawal and direct billing.

  • Automatic Withdrawal/EFT: Also referred to as Electronic Funds Transfer (EFT) or bank draft, automatic withdrawal is the most convenient way to pay your premium.
    • Please provide us with a completed Bank Draft Authorization Form 
    • Please provide a check or savings account number from which you want the premium withdrawn from.
    • To cancel your EFT: contact our Client Relations Department by phone or notify us in writing, by email or fax.
  • Direct Billing
    • Pacific Guardian Life will mail you a billing notice if you elect a quarterly, semi-annual or annual mode.
    • Direct billing is not available for monthly mode.

How do I change my bank?

To change the bank where payments are withdrawn, please:

  • Contact our Client Relations Department or notify us in writing, email or fax
  • Indicate what changes you would like to make.
    • If necessary, we will send you the proper forms to complete.
  • Complete a Bank Draft Authorization Form and return it to Pacific Guardian Life with a voided check.
  • Please also provide the following:
    • Name of policy owner
    • Policy number
    • Name of new bank
    • New bank account number
    • Bank transit/routing number

How can I change my current premium payment mode?

To change your current premium payment mode, contact our Client Relations Department or your Pacific Guardian Life representative. Please have your policy number and the last four digits of your Social Security number available.

Is there a grace period?

We allow a 31-day grace period for paying any premium after the initial premium is paid and this policy shall remain in force during the policy period. If the insured passes during this period, we will deduct any overdue premium from the death benefit proceeds before we make payment to the beneficiary(s).

What happens if I don’t pay my premium when it’s due?

If premiums are not paid within the grace period and your policy does not have a cash value, your policy will terminate at the end of the grace period. However, if your policy has built cash value, you may be able to take advantage of your policy’s non-forfeiture options, which you selected when the policy was issued.

Please note: This material is being provided for information purposes only. Neither Pacific Guardian Life nor its representatives provide legal, tax or accounting advice. Please contact your own advisors for legal, tax or accounting advice.

Universal Life Policies

How can I skip a premium payment?

Premium payments are flexible on Universal Life plans. This means you can choose the amount and frequency of payments. Premium payments can be skipped if the policy has enough cash value to cover the monthly cost of insurance. If the policy is on monthly bank draft deductions, contact our Client Relations Department or notify us in writing or by email to skip your automatic monthly bank drafts, and indicate when the bank drafts should be resumed.

Universal Life Reminder Notices

When the accumulated value of the policy (less any outstanding policy loan on a deduction day) is not enough to meet the monthly deduction due for the current month, we will send you a Universal Life Reminder Notice advising you of the amount needed to keep the policy in force. The policy will remain in force during the 61-day grace period. If the amount needed is not received by the end of the grace period, the policy will terminate.

Please note: This material is being provided for information purposes only. Neither Pacific Guardian Life nor its representatives provide legal, tax or accounting advice. Please contact your own advisors for legal, tax or accounting advice.

Death & Disability Claims

How do I file a death claim?

To file a death claim, contact your Pacific Guardian Life representative or our Claims Department:

On Oahu:
942-1331 or 942-1212

Toll Free:
1-800-432-3306

Email:
[email protected]

Please have the following information ready:

  • Insured’s name
  • Insured’s date of birth
  • Insured’s date of death
  • Policy number(s)

If you are not the beneficiary, you may be asked for the beneficiary’s contact information. After the call, the claims representative will send the claims packet along with a cover letter advising you of the requirements for processing the claim. Typically, these requirements include:

  • a request for a certified (original) copy of the Insured’s death certificate
  • the completed claim form
  • a completed W9 Form from each beneficiary.

In the event the insured resided in a foreign country at the time of death, additional requirements will be requested. If the beneficiary is an estate, Letters of Administration showing the named executor of the estate will be necessary.

How can I find out who is the current beneficiary of my policy?

Contact our Client Relations Department to find out the current beneficiary designation of your policy.

How can I change the beneficiary on my policy?

To change the beneficiary on your policy, complete and return an original Beneficiary Change Request Form. Refer to the Policy Changes Section for signature requirements.

Can the death benefit proceeds be paid directly to a funeral home for expenses?

Yes, if a beneficiary wishes to have the proceeds paid directly to a funeral home, the funeral home must complete an Assignment of Life Insurance Proceeds Form and this must be submitted with the applicable claim forms. The funeral assignment form will need to be signed by each beneficiary who wishes to relinquish all or a portion of their benefits to pay the funeral expenses.

How long will it take for the beneficiary to receive the check?

Upon receipt of all claim requirements from each beneficiary, death claims are processed as quickly as possible, usually within three working days.

What if the beneficiary is a minor?

If the beneficiary is a minor, policy proceeds cannot be paid directly to the minor. The benefits must be paid to the legal guardian of the minor’s property. Documentation designating the legal guardian will be requested with the claim. If no legal guardian has been appointed, the minor’s portion of the death claim proceeds will be held by the company in an interest-bearing contract until the minor attains the age of majority.

If the primary beneficiary is also deceased, who gets the benefits and who should file the claim?

In most cases, benefits would be payable to the contingent beneficiary listed in the policy. If there is no contingent beneficiary listed, it may be payable to the estate of the deceased insured or the estate of the deceased primary beneficiary, depending on who passed first.

How do I file a claim for waiver of benefits if the insured is disabled?

You may contact our Claims Department to verify if the policy contains a waiver provision and if the insured would qualify for waiver benefits. It is best to contact the Claims Department for answers specific to your situation.

Please note: This material is being provided for information purposes only. Neither Pacific Guardian Life nor its representatives provide legal, tax or accounting advice. Please contact your own advisors for legal, tax or accounting advice.

Policy Surrenders

How can I surrender or cancel my policy?

Please submit a Full or Partial Surrender Request Form (Refer to the Policy Changes Section for signature requirements).  Once a policy is surrendered, it is not eligible for reinstatement.

Because surrendering a policy could have tax or financial implications, please consult your tax advisor to determine if surrendering your policy is right for your financial situation. Some policies will incur a surrender charge to cover administrative costs. See your policy provisions for details.

If you would like your surrender check to be sent to or picked up by your agent or someone other than yourself, please complete the Check Authorization Form.

Please note: This material is being provided for information purposes only. Neither Pacific Guardian Life nor its representatives provide legal, tax or accounting advice. Please contact your own advisors for legal, tax or accounting advice.

Partial Surrenders or Withdrawals

(available only on Universal Life and Annuities)

How can I request a partial withdrawal?

Please submit a Full or Partial Surrender Request Form.

If you would like your partial surrender check to be sent to or picked up by your agent or someone other than yourself, please complete the Check Authorization Form.

Please note: This material is being provided for information purposes only. Neither Pacific Guardian Life nor its representatives provide legal, tax or accounting advice. Please contact your own advisors for legal, tax or accounting advice.

Policy Loans

How can I apply for a policy loan?

Please submit a Loan Request Form.  

If you would like your loan check to be sent to or picked up by your agent or someone other than yourself, please complete the Check Authorization Form.

How does loan interest affect my policy?

Loan interest accrues daily and is billed annually until a loan is repaid. Unpaid loan interest is added to the principal and continues to accrue and compound. This may result in the loan exceeding the cash value of the policy. If this happens, a loan payment will need to be made to avoid termination of coverage and a potential taxable gain.

Do I have to repay my policy loan?

No, you are not required to repay the loan. However, the amount of the loan, plus any unpaid interest, will be deducted from the death benefit. This means your beneficiaries will not receive the full amount you intended them to have.

Interest is also charged on a policy loan and will be charged as long as the loan is unpaid. If the annual loan interest is not paid when due, the loan will increase by the amount of the unpaid interest. Once the loan balance exceeds the value in your policy, a notification letter will be sent to you, providing 31 days to reduce the policy loan balance.

If the loan is still outstanding when you surrender your policy or it lapses, the amount of the loan (including interest due) will be considered taxable income to the extent there is gain on the policy.

Is there a benefit to repaying my policy loan?

Yes, the benefit of repaying the policy loan is that the death benefit will be restored to the extent of the loan repayment. The policy cash value also will increase.

How can I repay my loan?

To repay a policy loan, contact our Client Relations Department or your Pacific Guardian Life representative to set up a loan repayment plan.

The loan may be repaid in installments, a lump sum or by Electronic Fund Transfer (EFT).

  • Installments: Choose the amount (not less than $25) and the frequency of payment and mail the payments to the company.
  • Lump-sum payment: Repay the loan all at once.
  • EFT: The loan repayment will automatically be deducted from your checking or savings account monthly.

What is the difference between a loan and a withdrawal?

A loan can be repaid, and the death benefit is restored to the extent of the loan. A withdrawal cannot be repaid as it is a partial surrender of both the policy cash value and death benefit.

Loan interest is charged on an outstanding loan balance. There is no interest accrued for partial policy surrender, however, there may be an administrative charge for a partial surrender, depending on your plan.

If you would like your loan check to be sent to or picked up by your agent or someone other than yourself, please complete the Check Authorization Form.

Please note: This material is being provided for information purposes only. Neither Pacific Guardian Life nor its representatives provide legal, tax or accounting advice. Please contact your own advisors for legal, tax or accounting advice.

Policy Changes

Whose signature is required to make a policy change?

When making policy changes, we may require certain signatures depending on the policy ownership:

  • Individually owned: Signature(s) of all policy owners
  • Corporate-owned: Signatures of two officers (other than the insured) and corporate seal or copy of Corporate Resolution
  • Trust-owned: Signature(s) of all designated trustee(s)
  • Estate-owned: Signature of the court-appointed representative, including a copy of the court documents appointing the representative

How can I change the ownership of my policy?

To change the ownership of your policy, please complete and return a Change of Ownership Form by mail, e-mail or fax. Signatures of previous and new policy owners are required. If the payor changes, this should be indicated on the change form as well.

How can I change my name, address, phone number, etc.?

To change your contact information, please complete and return a Contract Information Update Form by mail, e-mail, or fax.

How can I reinstate my lapsed policy?

To reinstate your lapsed policy, please contact our Client Relations Department. If your policy is eligible for reinstatement, we will provide a quote of back premiums due. Please complete and return an original Policy Reissue and Reinstatement Application Form and a HIPAA Compliant Authorization Form. You also must send a check for all past-due premiums to begin the reinstatement process.

Please note: This material is being provided for information purposes only. Neither Pacific Guardian Life nor its representatives provide legal, tax or accounting advice. Please contact your own advisors for legal, tax or accounting advice.