Joshi, Sarika

Complicated Questions. Simple Answers. Life Insured.

Dr. Sarika Joshi

Gary H. Scholnick, CLU ChFC | Advanced income Strategies, LLC | o 248.723.1020 | f 248.723.1022

Sarika Joshi MD

Diagram of Term Insurance

Carrier Dividends are Never Guaranteed.  Premiums include Disability Waiver           See AIS Bookshelf for Home Office Illustrations of Policy Values, Features and Benefits

Sarika Joshi MD

Diagram of Term Insurance

Carrier Dividends are Never Guaranteed.  Premiums include Disability Waiver           See AIS Bookshelf for Home Office Illustrations of Policy Values, Features and Benefits

Sarika Joshi MD

Diagram of Whole Life

Carrier Dividends are Never Guaranteed.  Premiums include Disability Waiver           See AIS Bookshelf for Home Office Illustrations of Policy Values, Features and Benefits

Sarika Joshi MD

Special Pre and Post Retirement Income Distributions

Guardian Life

Special A Pre Retire

Annual

Annual Tuition Income

Total

Retiremnt

Non Taxable

Pol

Att

Income

Income

Income

Year

Age

Disributn

Disributn

Disributn

Disributn

0

‐1,288,800

0

‐1,288,800

1 2 3 4 5 6 7 8 9

38 39 40 41 42 43 44 45 46 47 52 53 54 55 56 57 58 63 64 65 66 67 68 69 70 71 72 82 83 84 85 86 87 88 89 90 91 92 94 95 96

0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

10

15 16 17 18 19 20 21 26 27 28 29 30 31 32 33 34 35 45 46 47 48 49 50 51 52 53 54 55 57 58 59

‐64,440 ‐64,440 ‐64,440 ‐64,440 ‐64,440 ‐64,440 ‐64,440 ‐64,440 ‐64,440 ‐64,440 ‐64,440

‐64,440 ‐64,440 ‐64,440 ‐64,440 ‐64,440 ‐64,440 ‐64,440 ‐64,440 ‐64,440 ‐64,440 ‐64,440

0 0 0 0 0 0 0 0 0 0 0

0 0 0 0 0 0 0 0 0 0 0

          ______________________           Policy Values Reflect Dividend Additions from Guardian Life's 2019 Dividend Scale           Carrier Dividends are Never Guaranteed.  Premiums include Disability Waiver           See AIS Bookshelf for Home Office Illustrations of Policy Values, Features and Benefits

Sarika Joshi MD

Minimum Premium

   $1M Whole Life / Base

   $1M Renewable Term

Guardian Life

Required Guaranteed

Projected

Projected

Projected Additional

Total Cash Value

Minimum

Total Cash Value

Net

Additn'l YRT

Net

Pol

Att

Annual

Death Benefit

Annual

Death

Year

Age

Premium

Premium Benefit

1 2 3 4 5 6 7 8 9

38 39 40 41 42 43 44 45 46 47 52 53 54 55 56 57 58 63 64 65 66 67 68 69 70 71 72 82 83 84 85 86 87 88 89 90 91 92 94 95 96

12,290 12,290 12,290 12,290 12,290 12,290 12,290 12,290 12,290 12,290 12,290 12,290 12,290 12,290 12,290 12,290

0 0

0

1,000,000 1,000,320 1,001,992 1,004,118 1,006,692 1,009,989 1,015,264 1,022,581 1,031,832 1,043,082 1,126,306 1,147,836 1,170,895 1,195,420 1,221,422 1,248,415 1,242,955 1,229,579 1,229,921 1,232,221 1,235,590 1,240,039 1,245,570 1,252,188 1,259,898 1,268,671 1,278,479 1,441,044 1,465,048 1,490,897 1,518,697 1,548,246 1,578,990 1,610,808 1,643,649 1,677,633 1,712,992 1,748,906 1,818,183 1,849,493 1,878,682

450 540 780 970

1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000

320

4,850

5,606

14,210 23,910 34,470 45,410 56,760 68,470 80,560 146,950 161,460 176,390 191,750 207,530 223,740 239,240 321,990 339,490 357,250 375,270 393,540 412,020 430,710 449,600 468,680 487,940 683,880 702,590 720,830 738,510 755,520 771,900 787,660 802,810 817,460 831,800 846,050 875,930 893,000 912,470

15,535 25,922 37,665 50,369 64,072 78,816 94,645 191,898 215,339 240,225 266,661 294,675 323,927 340,439 433,560 454,535 476,784 499,945 524,050 549,108 575,166 602,266 630,419 659,660

1,050 1,140 1,230 1,360 1,480 1,710 3,000 3,370 3,750 4,190 4,700 5,230

10

15 16 17 18 19 20 21 26 27 28 29 30 31 32 33 34 35 45 46 47 48 49 50 51 52 53 54 55 57 58 59

0

Alternative

0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

670 1M @ 20 Year

Level Term

1,020,728 1,064,287 1,109,338 1,155,874 1,203,566 1,251,995 1,301,170 1,351,053 1,401,914 1,454,250 1,507,550 1,615,957 1,671,555 1,729,896

          ______________________           Policy Values Reflect Dividend Additions from Guardian Life's 2019 Dividend Scale           Carrier Dividends are Never Guaranteed.  Premiums include Disability Waiver           See AIS Bookshelf for Home Office Illustrations of Policy Values, Features and Benefits

Sarika Joshi MD

Aggregate Premium

   $1M Whole Life / Excess Funding

Guardian Life

Voluntary Additional

Projected Guaranteed

Projected

Projecetd

Additional

Net

Total Cash Value

Net

Pol

Att

Annual

Annual

Cash Value

Death Benefit

Year

Age

Premium Income

Guar Liquidity / Annl Avg >

96.2%

1 2 3 4 5 6 7 8 9

38 39 40 41 42 43 44 45 46 47 52 53 54 55 56 57 58 63 64 65 66 67 68 69 70 71 72 82 83 84 85 86 87 88 89 90 91 92 94 95 96

11,710 11,710

0 11,159 0 11,380

11,159 23,288 40,986 63,959 88,064 114,229 142,095 171,735 203,233 236,664 436,240 483,320 533,008 585,477 640,796 698,690 734,004 935,678 981,612 962,848 942,924 921,772 899,293 875,435 850,134 823,288 794,532 385,369 327,821 266,074 267,437 267,413 265,381 261,218 254,732 244,280 232,078 217,401 178,863 155,272 130,552

1,057,031 1,112,221 1,168,080 1,223,431 1,278,337 1,333,102 1,389,025 1,446,209 1,504,585 1,564,314 1,882,107 1,949,327 2,017,795 2,087,507 2,158,529 2,230,415 2,241,027 2,317,622 2,337,999 2,222,865 2,112,256 2,004,673 1,899,905 1,797,741 1,697,972 1,600,357 1,529,933

11,710 11,710 11,710 11,710 11,710 11,710 11,710 11,710 11,710 11,710 11,710 11,710 11,710 11,710

0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

11,608 11,834 12,075 12,319 12,567 12,821 13,066 13,312 14,535 14,776 15,005 15,235 15,459 15,677

10

15 16 17 18 19 20 21 26 27 28 29 30 31 32 33 34 35 45 46 47 48 49 50 51 52 53 54 55 57 58 59

0

0

0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

‐64,440 ‐64,440 ‐64,440 ‐64,440 ‐64,440 ‐64,440 ‐64,440 ‐64,440 ‐64,440 ‐64,440 ‐64,440

882,692 800,366 714,023 691,161 667,465 642,483 615,941 587,632 556,176 522,302 485,782 399,718 347,806 290,044

0 0 0 0 0 0 0 0 0 0 0

          ______________________           Policy Values Reflect Dividend Additions from Guardian Life's 2019 Dividend Scale           Carrier Dividends are Never Guaranteed.  Premiums include Disability Waiver           See AIS Bookshelf for Home Office Illustrations of Policy Values, Features and Benefits

Sarika Joshi MD

Aggregate Premium

   $1M Whole Life PLUS Excess Funding

Guardian Life

Required

Voluntary

Projected Guaranteed

Projected

Projecetd

Additional

Minimum Additional

Net

Total Cash Value

Net

Pol

Att

Annual

Annual

Annual

Cash Value

Death Benefit

Year

Age

Premium Premium Income

245,800

234,200 ‐1,288,800

1 2 3 4 5 6 7 8 9

38 39 40 41 42 43 44 45 46 47 52 53 54 55 56 57 58 63 64 65 66 67 68 69 70 71 72 82 83 84 85 86 87 88 89 90 91 92 94 95 96

12,290 12,290 12,290 12,290 12,290 12,290 12,290 12,290 12,290 12,290 12,290 12,290 12,290 12,290 12,290 12,290

11,710 11,710 11,710 11,710 11,710 11,710 11,710 11,710 11,710 11,710 11,710 11,710 11,710 11,710 11,710 11,710

0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

11,159 11,380 11,608 11,834 12,075 12,319 12,567 12,821 13,066 13,312 14,535 14,776 15,005 15,235 15,459 15,677

11,159 23,288 40,986 63,959 88,064 114,229 142,095 171,735 203,233 236,664 436,240 483,320 533,008 585,477 640,796 698,690 734,004 935,678 981,612 962,848 942,924 921,772 899,293 875,435 850,134 823,288 794,532 385,369 327,821 266,074 267,437 267,413 265,381 261,218 254,732 244,280 232,078 217,401 178,863 155,272 130,552

1,057,031 1,112,221 1,168,080 1,223,431 1,278,337 1,333,102 1,389,025 1,446,209 1,504,585 1,564,314 1,882,107 1,949,327 2,017,795 2,087,507 2,158,529 2,230,415 2,241,027 2,317,622 2,337,999 2,222,865 2,112,256 2,004,673 1,899,905 1,797,741 1,697,972 1,600,357 1,529,933

10

15 16 17 18 19 20 21 26 27 28 29 30 31 32 33 34 35 45 46 47 48 49 50 51 52 53 54 55 57 58 59

0

0

0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

‐64,440 ‐64,440 ‐64,440 ‐64,440 ‐64,440 ‐64,440 ‐64,440 ‐64,440 ‐64,440 ‐64,440 ‐64,440

882,692 800,366 714,023 691,161 667,465 642,483 615,941 587,632 556,176 522,302 485,782 399,718 347,806 290,044

0 0 0 0 0 0 0 0 0 0 0

          ______________________           Policy Values Reflect Dividend Additions from Guardian Life's 2019 Dividend Scale           Carrier Dividends are Never Guaranteed.  Premiums include Disability Waiver           See AIS Bookshelf for Home Office Illustrations of Policy Values, Features and Benefits

Sarika Joshi MD

Invest Tax

Effective Rates of Return on All Cash Flows

35%

Guardian Life

To Age 55

To Age 70

To Age 85

Guardian 2019 Divs 5.85%

Reqrd Min

Voluntary Additional

Annual

Total Ann'l

Total Ann'l

Total Ann'l

Pol

Att

Premium

Annual

Premium Premium Premium

Simple Plan

Smart Plan

Smart Plan

Smart Plan

Year

Age

Premium

6.99% 10.03% 25.10% 10.13% 7.37%

Equiv Grs > Net Yield >

4.54%

6.52%

16.32%

6.58%

4.79%

1 2 3 4 5 6 7 8 9

38 39 40 41 42 43 44 45 46 47 52 53 54 55 56 57 58 63 64 65 66 67 68 69 70 71 72 82 83 84 85 86 87 88 89 90 91 92 94 95 96

12,290 12,290 12,290 12,290 12,290 12,290 12,290 12,290 12,290 12,290 12,290 12,290 12,290 12,290 12,290 12,290

11,710 11,710 11,710 11,710 11,710 11,710 11,710 11,710 11,710 11,710 11,710 11,710 11,710 11,710 11,710 11,710 ‐64,440 ‐64,440 ‐64,440 ‐64,440 ‐64,440 ‐64,440 ‐64,440 ‐64,440 ‐64,440 ‐64,440 ‐64,440 0 0 0

24,000 24,000 24,000 24,000 24,000 24,000 24,000 24,000 24,000 24,000 24,000 24,000 24,000

24,000 24,000 24,000 24,000 24,000 24,000 24,000 24,000 24,000 24,000 24,000 24,000 24,000 24,000 24,000 24,000

24,000 24,000 24,000 24,000 24,000 24,000 24,000 24,000 24,000 24,000 24,000 24,000 24,000 24,000 24,000 24,000

10

15 16 17 18 19 20 21 26 27 28 29 30 31 32 33 34 35 45 46 47 48 49 50 51 52 53 54 55 57 58 59

‐2,063,507

0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

0

0

0

0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

0 0

0 0

‐64,440 ‐64,440 ‐64,440 ‐64,440 ‐64,440

‐64,440 ‐64,440 ‐64,440 ‐64,440 ‐64,440 ‐64,440 ‐64,440 ‐64,440 ‐64,440 ‐64,440 ‐64,440 ‐691,161

‐1,762,412

0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

0 0 0 0 0 0 0 0 0 0 0

0 0 0 0 0 0 0 0 0 0

‐1,677,633

          ______________________           Policy Values Reflect Dividend Additions from Guardian Life's 2019 Dividend Scale           Carrier Dividends are Never Guaranteed.  Premiums include Disability Waiver           See AIS Bookshelf for Home Office Illustrations of Policy Values, Features and Benefits

Sarika Joshi MD

Invest Tax

Effective Rates of Return on All Cash Flows

35%

Guardian Life

To Age 55

To Age 70

To Age 85

Guardian 2019 Divs 5.85%

Reqrd Min

Voluntary Additional

Annual

Total Ann'l

Total Ann'l

Total Ann'l

Pol

Att

Premium

Annual

Premium Premium Premium

Simple Plan

Smart Plan

Smart Plan

Smart Plan

Year

Age

Premium

6.99% 10.03% 25.10% 10.13% 7.37%

Equiv Grs > Net Yield >

4.54%

6.52%

16.32%

6.58%

4.79%

1 2 3 4 5 6 7 8 9

38 39 40 41 42 43 44 45 46 47 52 53 54 55 56 57 58 63 64 65 66 67 68 69 70 71 72 82 83 84 85 86 87 88 89 90 91 92 94 95 96

12,290 12,290 12,290 12,290 12,290 12,290 12,290 12,290 12,290 12,290 12,290 12,290 12,290 12,290 12,290 12,290

11,710 11,710 11,710 11,710 11,710 11,710 11,710 11,710 11,710 11,710 11,710 11,710 11,710 11,710 11,710 11,710 ‐64,440 ‐64,440 ‐64,440 ‐64,440 ‐64,440 ‐64,440 ‐64,440 ‐64,440 ‐64,440 ‐64,440 ‐64,440 0 0 0

24,000 24,000 24,000 24,000 24,000 24,000 24,000 24,000 24,000 24,000 24,000 24,000 24,000

24,000 24,000 24,000 24,000 24,000 24,000 24,000 24,000 24,000 24,000 24,000 24,000 24,000 24,000 24,000 24,000

24,000 24,000 24,000 24,000 24,000 24,000 24,000 24,000 24,000 24,000 24,000 24,000 24,000 24,000 24,000 24,000

10

15 16 17 18 19 20 21 26 27 28 29 30 31 32 33 34 35 45 46 47 48 49 50 51 52 53 54 55 57 58 59

‐2,063,507

0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

0

0

0

0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

0 0

0 0

‐64,440 ‐64,440 ‐64,440 ‐64,440 ‐64,440

‐64,440 ‐64,440 ‐64,440 ‐64,440 ‐64,440 ‐64,440 ‐64,440 ‐64,440 ‐64,440 ‐64,440 ‐64,440 ‐691,161

‐1,762,412

0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

0 0 0 0 0 0 0 0 0 0 0

0 0 0 0 0 0 0 0 0 0

‐1,677,633

          ______________________           Policy Values Reflect Dividend Additions from Guardian Life's 2019 Dividend Scale           Carrier Dividends are Never Guaranteed.  Premiums include Disability Waiver           See AIS Bookshelf for Home Office Illustrations of Policy Values, Features and Benefits

Sarika Joshi MD

Invest Tax

Effective Rates of Return on All Cash Flows

40%

Guardian Life

To Age 55

To Age 70

To Age 85

Guardian 2019 Divs 5.85%

Reqrd Min

Voluntary Additional

Annual

Total Ann'l

Total Ann'l

Total Ann'l

Pol

Att

Premium

Annual

Premium Premium Premium

Simple Plan

Smart Plan

Smart Plan

Smart Plan

Year

Age

Premium

7.57% 10.87% 27.20% 10.97% 7.98%

Equiv Grs > Net Yield >

4.54%

6.52%

16.32%

6.58%

4.79%

1 2 3 4 5 6 7 8 9

38 39 40 41 42 43 44 45 46 47 52 53 54 55 56 57 58 63 64 65 66 67 68 69 70 71 72 82 83 84 85 86 87 88 89 90 91 92 94 95 96

12,290 12,290 12,290 12,290 12,290 12,290 12,290 12,290 12,290 12,290 12,290 12,290 12,290 12,290 12,290 12,290

11,710 11,710 11,710 11,710 11,710 11,710 11,710 11,710 11,710 11,710 11,710 11,710 11,710 11,710 11,710 11,710 ‐64,440 ‐64,440 ‐64,440 ‐64,440 ‐64,440 ‐64,440 ‐64,440 ‐64,440 ‐64,440 ‐64,440 ‐64,440 0 0 0

24,000 24,000 24,000 24,000 24,000 24,000 24,000 24,000 24,000 24,000 24,000 24,000 24,000

24,000 24,000 24,000 24,000 24,000 24,000 24,000 24,000 24,000 24,000 24,000 24,000 24,000 24,000 24,000 24,000

24,000 24,000 24,000 24,000 24,000 24,000 24,000 24,000 24,000 24,000 24,000 24,000 24,000 24,000 24,000 24,000

10

15 16 17 18 19 20 21 26 27 28 29 30 31 32 33 34 35 45 46 47 48 49 50 51 52 53 54 55 57 58 59

‐2,063,507

0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

0

0

0

0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

0 0

0 0

‐64,440 ‐64,440 ‐64,440 ‐64,440 ‐64,440

‐64,440 ‐64,440 ‐64,440 ‐64,440 ‐64,440 ‐64,440 ‐64,440 ‐64,440 ‐64,440 ‐64,440 ‐64,440 ‐691,161

‐1,762,412

0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

0 0 0 0 0 0 0 0 0 0 0

0 0 0 0 0 0 0 0 0 0

‐1,677,633

          ______________________           Policy Values Reflect Dividend Additions from Guardian Life's 2019 Dividend Scale           Carrier Dividends are Never Guaranteed.  Premiums include Disability Waiver           See AIS Bookshelf for Home Office Illustrations of Policy Values, Features and Benefits

ALife InsuranceGuide for Individuals, Families and Business Owners

guardianlife.com

A Story of Guarantees and Financial Versatility Understanding the value behind whole life

1

A Life Insurance Guide for Individuals, Families and Business Owners

Whole life is a versatile financial product that provides unique benefits which differentiate it from all other financial instruments. To truly appreciate the value of whole life, it’s important to understand how it works, its uses, and its benefits.

guardianlife.com

HowDoes Whole Life Work?

Whole life provides lifetime insurance protection with signi cant guarantees and tax bene ts. There are three guarantees: 1

• A Guaranteed Level Premium —The annual premium is contractually guaranteed to never change.

• Guaranteed Death Bene t —The level death bene t is contractually guaranteed to never go down.

• AGuaranteed Cash Value —The contractually guaranteed cash value will increase each and every year until it is equal to the face amount of the policy at a speci ed age—typically 100 or 121.

What Are Dividends and How Do TheyWork? Whole life o ers the ability to provide additional value in excess of guarantees through dividends. Dividends are paid to policyholders if declared by the board of directors of the insurance company providing the policy. It is very common for a mutual life insurance company to pay a dividend. In fact, the top four rated mutual life insurance companies have paid a dividend each and every year for nearly 150 years—even during the “Great Depression”. 2

1

What Are Your Options When a Policy Pays Dividends?

Policy owners have di erent needs throughout their lives. Whole life o ers a variety of dividend options to choose from, which allows an owner to customize the coverage. The dividend option election may be changed from year to year, based on the policy owner’s changing needs: • By far the most widely selected dividend option is to reinvest the dividends back into the whole life policy to purchase guaranteed paid-up additions. This option provides an increase in total cash value and additional death bene t protection. Each year a dividend is reinvested, additional paid-up life insurance is purchased, which in turn, earns its own dividends. Over time, the accumulation of additional paid-up life insurance will help o set the e ects of in ation by increasing the death bene t protection and accumulated cash values.

• Dividends may be paid outright, tax-free, up to the policy basis.

• Dividends may be used to reduce the policy’s premium.

• Additional term insurance may be purchased with dividends.

• Dividends may be allowed to accumulate with interest. Interest will be subject to ordinary income taxes.

• Dividends may be used to pay back an existing policy loan. 3

2

guardianlife.com

Taxation Protection 4

Because of the contribution that whole life insurance makes to the welfare

of society by providing protection for surviving family members, it is vested with the following signi cant tax bene ts:

• Income tax-free death bene ts 5

• Tax-deferred buildup of cash values inside of the policy

• Access to policy cash values on a tax-favored basis by withdrawals or through policy loans 6

• Withdrawals from a life insurance policy are permitted on a First-In First-Out Basis (FIFO) 7 . This means that withdrawals to the extent of cost basis are considered a tax-free return of cost basis 8

3

A Life Insurance Guide for Individuals, Families and Business Owners

What Are the Di erent Uses for Whole Life?

Human Life Value Protection

Family Protection

Business Protection

• Property values are the result of human e ort. Human life value is created for a family whenever income is earned to provide for that family’s economic needs.

The death bene ts of life insurance can help to assure the economic continuity of a family at a time when it is faced with the greatest of all possible traumas: the death of a beloved father, mother, husband or wife. Whole life insurance can also help to ensure nancial stability through the funding of:

Businesses face special insurance funding needs in order to provide a business continuity plan that will protect the owners in the event of death. Whole life insurance is ideally suited to provide the capital needed to adequately buy the interests of a deceased owner and indemnify the business against the loss of the services, expertise, and skills of a key person. Life insurance is ideally suited to address four major areas of business planning:

• Most people see the

importance of insuring the value of property, such as their home or car, for its replacement

value and are able to do so through the purchase of

• Mortgage protection;

casualty insurance. The human life value of an individual, which is by far the most valuable asset of a family or business, is also insurable for its replacement value on a permanent basis with whole life insurance. Whole life insurance provides an a ordable, e ective way of permanently indemnifying a family or business against the loss of its most valuable asset.

• Education funding; and

• Income needs.

• The funding of buy-sell agreements and stock redemption plans;

• The funding of supplemental retirement programs;

• Key person indemni cation; and

• The payment of loans and mortgages.

4

guardianlife.com

Estate Planning

Asset Maximization

Planning for the orderly transfer of property at death can help to minimize taxes and provide for heirs in a way that will re ect an individual’s desires. Whole life insurance plays a key role in providing for loved ones by o ering:

• One of the unique bene ts of whole life is the way it enhances the value of other assets during retirement. The presence of a guaranteed death bene t gives the owner the ability to use assets in ways that would not be possible if the insurance did not exist. The death bene t provides the “permission slip” that may enable you to spend down principal and interest (maximize retirement income), knowing that the principal will be replaced for your family upon death. • The existence of permanent whole life insurance in the estate of a donor makes it possible to achieve the desired charitable intent with all the collateral bene ts, while maintaining a comparable legacy for the donor’s heirs.

• Adequate liquidity to pay

estate and inheritance taxes;

• Assets to generate income for a surviving spouse and children;

• Estate equalization among heirs; and

• Funding for special needs children and adults.

5

A Life Insurance Guide for Individuals, Families and Business Owners

The Bene ts and Flexibility of Whole Life

Instantly, with the payment of the rst premium, the entire death bene t is set aside for your family. Whole life insurance provides a guaranteed death bene t for the entire life of the insured. Whole life is uniquely di erent from all forms of savings and investment vehicles, such as bank accounts, IRAs, 401(k) accounts, mutual funds, and brokerage accounts, in that it continues to be funded even if you become disabled. Disability usually brings with it the strain of reduced income, increased expenses, and dissolution of existing savings and investments. The Waiver of Premium rider, when elected, guarantees that if disabled, your policy will continue to be funded by the insurance company as if you continued to make full premium payments. In e ect, you will have a self-completing savings plan (college, retirement). In many states, the bene ts of life insurance are protected from the claims of creditors. If your state provides this legal protection, the cash values and death bene t of a whole life policy will be protected from lawsuits that can result in the loss of other assets, such as bank accounts, mutual funds, and brokerage accounts. 4 Whole life avoids probate and has a named bene ciary: You specify who and howmuch of the bene t will be distributed to each bene ciary. Unlike a will, however, whole life insurance has the added bene t of privacy. Wills, once probated, become public documents. The distribution of a whole life insurance policy’s death bene t is a private, contract-driven transaction between the policy owner and insurance company— the distribution passes outside of a will and thus provides privacy for the bene ciaries. The death bene ts of whole life are generally free from all federal income taxes. The enormous value of this bene t must not be underestimated, especially in light of constantly growing government expenditures and taxes. The growth of the cash value inside a whole life policy is deferred from taxation while the funds remain in the policy. This is yet another wealth-protecting bene t that whole life provides to families and businesses. During the insured’s life, cash value additions can be accessed under favorable First- In-First-Out (FIFO) tax rules. This means withdrawals to the extent of cost basis are considered a tax-free return of cost basis.

The Protection of an Instant, Permanent Estate

Disability Protection 9

Liability Protection

Distribution Like a Will

Tax-free Death Bene t

Tax-deferred Growth

Tax-favorable Access to Policy Cash Values ThroughWithdrawals Tax-favorable Access to Policy Cash Values Through Policy Loans

During the insured’s life, loans taken against a whole life policy will not trigger a taxable event, even though the policy may have a large gain in excess of premiums paid.

Self-funding 10

You have the option of having the policy pay for itself over time by applying dividends to pay premiums. This feature may be invoked or changed at any time to meet the changing circumstances of your life.

Once a policy loan has been taken, the annual dividend can be used to help pay back a policy loan.

Ability to Pay Itself Back from Future Dividends

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Whole life can free a policyholder from reliance upon commercial lenders. Cash values can be accessed on a demand basis through a policy loan at any time and for any reason, without the application and approval process that is required for consumer or business loans.

You Can Make Direct Loans to Yourself for Any Reason

Can be Used as Collateral for a Loan from a Bank

Whole life can be used as collateral to obtain a loan from a bank at favorable interest

rates. The ability to either borrow directly from the insurance company or from a bank gives the owner of a whole life policy signi cant exibility when there is a need to access policy values. When borrowing from a bank and proceeds are used for a taxable investment, it is possible that the loan interest may be deductible against certain investment income. (Contact your tax advisor for more information.) Loans against a whole life policy are exible to the extent that they do not need to be paid back unless you decide to pay them back. Once a loan is taken out on your whole life policy, it can be paid back at the discretion of the policy owner. If the loan is not paid back during the lifetime of the insured, any remaining loan balance will simply be deducted from the death proceeds (i.e., the death bene t). When dividends are reinvested back into the policy, they purchase paid-up additions, which increase the death bene t, helping to o set the eroding e ects of in ation. Once a dividend has purchased paid-up additions, the additional death bene t and cash value of the paid-up additional insurance is guaranteed. The policy owner has the right to reduce the death bene t to a “paid-up” policy at any time. If the policy is “paid up,” the policy owner can never make another premium payment. Both the cash value and the death bene t will continue to grow through dividends for the rest of the insured’s life.

Carries Flexible Loan Repayment Terms

Death Bene t Increase

Reduced Paid-up Policy

The protection and wealth-enhancing bene ts of whole life make it one of the most comprehensive and versatile nancial instruments available today. Its great value is enhanced by its exibility, which enables it to be customized for a variety of consumer needs. Premium exibility is provided by existing paid-up additions and dividend options. The loan feature and the ability to withdraw dividends provide readily available liquid assets. Together, the guaranteed cash value, guaranteed death bene t, and guaranteed premium provide policy owners with a solid foundation for nancial protection, and the ability to build wealth in a turbulent and uncertain world.

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A Life Insurance Guide for Individuals, Families and Business Owners

Contact me to learn more about how whole life can help you build a solid nancial foundation for the future—while you protect what’s most

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1 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 a ect the guarantees by reducing the policy’s death bene t and cash values.

2 Dividends are not guaranteed and may be declared by the company’s board of directors. Guardian has paid a dividend every year since 1868.

3 For a non-MEC policy, if the amount of dividend payments used to repay the loan principal or interest exceeds the cost basis (cumulative premiums) of the policy, the excess dividend payments may be subject to income taxes.

4 Guardian, its subsidiaries, agents and employees do not give tax, legal, or accounting advice. You should consult your tax, legal, or accounting advisor regarding your individual situation.

5 Employer-owned life insurance must comply with the rules set forth in IRC Section 101(j) in order to ensure tax-free death bene ts.

6 Policy bene ts are reduced by any outstanding loan or loan interest and/or withdrawals. Dividends, if any, are a ected 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 loans considered gain in the policy may be subject to ordinary income taxes. If the policy is a Modi ed Endowment Contract (MEC), loans are treated like withdrawals, but as gain rst, subject to ordinary income taxes. If the policy owner is under age 59½, any taxable withdrawal is also subject to a 10% tax penalty.

7 FIFO tax rules apply as long as the policy has not been classi ed as a Modi ed Endowment Contract (MEC).

8 Cost basis is the contribution (premiums) that is made to a life insurance policy.

9 Disability waiver incurs an additional, relatively low premium (01-R2).

10 The premium o set year is not guaranteed and relies on the payment of non-guaranteed dividends and the amount of paid-up additions in the policy in order to pay for the policy’s required premium. This Material is Intended For General Public Use. By providing this material, we are not undertaking to provide investment advice for any speci c individual or situation, or to otherwise act in a duciary capacity. Please contact one of our nancial professionals for guidance and information speci c to your individual situation.

GUARDIAN ® and the GUARDIAN G ® logo are registered service marks of The Guardian Life Insurance Company of America ®

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The Guardian Life Insurance Company of America New York, NY

guardianlife.com

Pub6996 (10/18) 2018-66216 (Exp. 07/19)

Whole Life 99 Life Insurance Illustration

Prepared for: Sarika Joshi

Gary H Scholnick, CLU ChFC Advanced Income Strategies LLC 6632 Telegraph Road Suite 372 Bloomfield Hills, MI 48301 248 723 1020 Fax: 248 723 1022 E-Mail: gary@adv-income.com

Home Office: The Guardian Life Insurance Company of America 7 Hanover Square New York, NY 10004 1-888-GUARDIAN (1-888-482-7342)

Illustration: 2018-66233

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Guardian Life Insurance Illustration Narrative Summary Sarika Joshi, Female Age 38, Preferred Plus NT

Benefit

Premium ** $11,870.00

$1,000,000

Whole Life 99

Enhanced Accelerated Benefit Rider Waiver of Premium

$420.00

Index Participation Feature (50% initial allocation)

Total First Year Premium

$12,290.00

Dividend Option: Paid Up Additions (D)

Plan Overview:

The following is a general description of the proposed benefits. The complete terms and conditions are shown in the policy. • Whole Life Insurance Policy, Generic Form Number: 18-L99. • A permanent life insurance policy with cash value. Qualifies for annual dividends. • Level guaranteed death benefit for the insured's lifetime. • Level guaranteed premium payable to age 99.

Whole Life 99 (2019 Series):

Dividend Option: • Paid Up Additions (D)

• Dividends are used to purchase additional paid-up insurance (PUA's). PUA's purchased with dividends will increase the cash value and the death benefit.

Waiver of Premium:

• Waiver of Premium Rider, Generic Form Number: 18-WP WL. • Premiums will be waived while the insured is totally disabled, if the disability is continuous for at least six months. Premiums will be waived for as long as the disability continues. If the disability begins before age 60 and continues to age 65, all remaining policy premiums will be waived. However, if the disability begins between ages 60 and 64, premiums will be waived to the later of 2 years from the start of the disability, or age 65. The rider terminates at age 65 unless premiums are being waived. • The premium for this rider is payable for 27 years. • If the insured is disabled prior to age 60, an "own occupation" definition of disability applies for the earlier of the first 7 years or to age 64. If the disability begins at or after age 60, the "own occupation" definition applies for the later of 2 years or to age 65. • Accelerated Benefit Rider, Generic Form Number: 01-R111 (2001 CSO). • Provides coverage by advancing a portion of the death benefit for Chronic and Terminal Illnesses, if qualifying triggers are met. • Cost of rider is in the form of lien carrying charges. • A one time fee is deducted from the first accelerated benefit paid from the policy. • The Total Lien Limit for Chronic Illness is the cash value plus a percentage (based on the insured's age at the time of the first claim) of the difference between the death benefit and the cash value. • The Total Lien Limit for Terminal Illness is the cash value plus 80% of the difference between the death benefit and the cash value. • This policy may be encumbered by a collateral assignment. If such an assignment exists at the time the Enhanced ABR is exercised, both the assignor and assignee must sign the request to accelerate the death benefit. A check will be issued jointly to both parties; alternatively, written notification may be submitted with payment instructions which is signed by both the assignee and the assignor giving the payment instructions.

Enhanced ABR:

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Guardian Life Insurance Illustration Narrative Summary

Index Participation Feature: • Index Participation Rider, Generic Form Number: 15-IPR. • Provides the option to apply an index adjustment to the dividend payable under the policy. The adjustment is based on an external index and the cash value of paid-up additions that are allocated under this rider. • While there is no direct out-of-pocket premium for this rider, there is a rider charge that is deducted when an index period is created. The rider charge is paid through the surrender of paid-up additions; the illustration is based on the assumption that the rider charge is paid at the beginning of the year that the index period ends. See Index Participation Feature Disclosure for the current and guaranteed rider charge percentages. • The rider ends at age 100. • See Index Participation Disclosure for more details. ** This illustration was run assuming a mode of Annual. All premium and other payments are deemed to be made on policy anniversaries. Figures depending on dividends are based on the 2019 dividend scale and are not guaranteed. This illustration assumes that the currently illustrated non-guaranteed elements, including dividends, will continue unchanged for all years shown. This is not likely to occur and the actual results may be more or less favorable than those shown. The assumptions on which non-guaranteed elements are based are subject to change by the Company. The columns show the values assuming that no dividends are ever paid. The guaranteed cash values are based on an interest rate of 4.00%. The premiums for any riders as well as the Index Participation Feature charge are shown at their guaranteed maximum cost. For the Index Participation Feature, the assumed index adjustment rate is zero. • The Annual Premium column shows the maximum annual premium for the base policy and any riders at the beginning of the year. • The Cash Value column shows the guaranteed cash surrender value of the base policy and any riders at the end of the year. • The Death Benefit column shows the guaranteed death benefit of the base policy and any riders at the end of the year. Non-Guaranteed - Current - Values are non-guaranteed. The columns show the values based on the 2019 dividend scale. The premiums for any riders are shown at their non-guaranteed scheduled rate. For the Index Participation Feature, the assumed index interest rate for the Numeric Summary and Tabular Detail is 8.48%. • The Net Premium column shows the amount paid (or received) at the beginning of the year based on current assumptions. • The Cash Value column shows the values at the end of the year based on current assumptions. • The Death Benefit column shows the death benefit at the end of the year based on current assumptions. Important Notes: 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. The Numeric Summary report shows the values under three sets of assumptions. In each scenario, the values are based on paying the premium every year and taking no loans or other distributions. Guaranteed: Current:

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Guardian Life Insurance Illustration Narrative Summary

Intermediate:

Non-Guaranteed - Intermediate - The columns show the values assuming dividends at 50% of the dividends contained in the current illustrated scale. The premiums for any riders are shown at a rate half way between the non-guaranteed scheduled rate and the guaranteed maximum cost, if applicable. If positive, the index adjustment rate for the Index Participation Feature is equal to half of the index adjustment rate that was applied under the current scenario. Otherwise, the index adjustment rate is equal to the index adjustment rate that was applied under the current scenario. • The Net Premium column shows the amount paid (or received) at the beginning of the year based on intermediate assumptions. • The Cash Value column shows the values at the end of the year based on the intermediate assumptions. • The Death Benefit column shows the death benefit at the end of the year based on intermediate assumptions. The Tabular Detail report is based on the same current and guaranteed assumptions and definitions as shown on the Numeric Summary report. The Non-Guaranteed Alternate columns on the Tabular Detail use the same assumptions as the Non-Guaranteed Current scenario except that the index adjustment rate is zero.

Additional Information:

The Planning Concept report is based on the 2019 dividend interest rate and current assumptions.

The Planning Concept report is based on the following information related to the Index Participation Feature (IPF):

Schedule of Hypothetical Index Returns:

Year 1 To 62

Annual Return of 8.48%

This illustration is based on the following schedule of allocation percentages related to the Index Participation Feature:

Year 1 To 61

50%

Any request to change the allocation percentage must be received by the Home Office at least 10 days prior to the Index Start Date. The illustrated end-of-year values are based on the assumption the policyholder does not start a new index period in the months preceding a policy surrender. If a new index period is created, the surrender value is reduced by the index charge. 5% Interest Adjusted indices are shown on the Tabular Detail report. They are based on the base policy only and do not include any supplemental coverages. These indices are useful in comparing policies of similar types. A low index number represents a lower cost than a higher index number. See the Life Insurance Buyer's Guide for further information. Guardian's current Individual Life Dividend Scale meets the requirements of the National Association of Insurance Commissioners (NAIC) Life Insurance Model Regulation and is not more favorable than the lesser of, (i) the Disciplined Current Scale or (ii) the currently payable scale. The maximum illustrated index interest rate is in compliance with Actuarial Guideline 49. The end-of-year dividend amount is included in the Cash Value of All Adds column, even if a dividend option other than Paid Up Additions is elected.

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Guardian Life Insurance Illustration Narrative Summary

Interest on policy loans is payable in advance. Initially, this policy provides for a fixed loan interest rate of 6.00%. Then, the owner will have a one time ability to elect to change the loan interest rate to a variable loan interest rate. This election can only be made during the Election Period described in the policy. If the election to change to a variable loan interest rate is not exercised, the policy will continue to use the 6.00% fixed loan interest rate for 27 years at which time the fixed loan interest rate will decrease to 4.00%. If the variable loan interest rate is elected, the interest rate charged on all loan balances may change for your policy as often as annually, and as described in the policy. The maximum loan interest rate will never exceed the greater of 4.50% or the Moody's Corporate Bond Yield Average Index. Guardian may declare a rate that is less than the guaranteed maximum loan interest rate at its sole discretion. When a fixed loan interest rate is used in this policy, any dividends can be affected by policy loans. When a variable loan interest rate is used in this policy, any dividends will not be affected by policy loans. The cost of this policy over a period of years cannot be determined without taking into account the interest that would have been earned on the premiums if they had been invested rather than paid to Guardian. This policy as shown on the Planning Concept report will not become a Modified Endowment Contract (MEC). The term MEC is designated under federal tax law. If a policy becomes a MEC, surrenders, withdrawals, loans and collateral assignments will be taxed less favorably than for non- MEC. Life insurance contract death benefits are generally excludable from the income of the recipient. However, if the policy is considered "Employer Owned Life Insurance" (EOLI) under the Internal Revenue Code, the benefit may be considered taxable. Under certain circumstances, this tax treatment applies to individually owned policies as well as employer owned policies. Your agent can provide you with the form EOLINOTICE101J0809 Notice & Consent for Employer Owned Life Insurance. Contact your tax advisor for details about complying with the regulation. It may violate federal law to use policies whose rates vary by gender in qualified plans. The Planning Concept report shows the results using the current dividend scale to reduce the required number of cash premiums. The owner may have to pay premiums for a longer period or resume them at a later date. This could occur when actual future dividends are lower than those in the illustration or if the owner does not make the outlays illustrated. Since dividends can be affected by Policy Loans, any borrowing could also result in the need for additional premium payments. This illustration may include the Total Guaranteed Cash Value or Guaranteed Face Amount of Paid Up Insurance columns. If so, a positive value is shown in those columns only with certain dividend options and if the following conditions are met: there is an illustrated Paid Up Additions Rider; there are no policy loans; and the illustrated outlay is sufficient to maintain the base policy benefits and Target Additional Benefit on a guaranteed basis. Otherwise the symbol && is shown. The currently declared variable loan interest rate is 4.50%. Guardian, its subsidiaries, agents, and employees do not provide tax, legal, or accounting advice. Consult your tax, legal, or accounting professional regarding your individual situation.

The tax bracket is assumed to be 28% for all years.

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Guardian Life Insurance Illustration Narrative Summary

The product(s) presented in this illustration may not be available in your state. Any application for an unapproved product will be declined.

This illustration is only valid for use in Michigan. This illustration may not be valid if it is more than two weeks old. This illustration is complete only if all pages are attached and the producer's name, address and signature appear.

We strive to ensure the accuracy of this illustration; however, if there is a discrepancy between the illustration and the contract, the contract governs.

Guardian® is a registered trademark of The Guardian Life Insurance Company of America®. This illustration and the information contained therein is intended solely for the use of duly authorized employees and agents of The Guardian Life Insurance Company of America or any of its affiliated insurance companies ("Guardian"). This illustration and any information entered into, provided by or generated from this system is not to be altered, edited, downloaded or otherwise marked and is to be presented in its entirety in the format developed by the system. If information is being downloaded or exported using this site's capabilities, the information downloaded or exported may only be shown to a client if presented in a format that is approved through the Company's Advertising Compliance Review System (ACRS) and is presented in conjunction with a full basic illustration. Some information may be considered private information and all users should adhere to Guardian's privacy rules and protocols for proper handling. Any use of this illustration or the information contained therein in a manner contrary to the rules contained herein may be in violation of state or federal regulations and/ or Guardian policy, and appropriate action will be taken to address. Guardian Proposal System TM ("GPS") is the exclusive property of The Guardian Life Insurance Company of America ("Guardian") and its licensors, and is only to be used for internal purposes and not to be distributed to the general public. GPS may not be copied in whole or in part without Guardian's Legal Department's prior written authorization. # ## * @ This symbol indicates values shown are Beginning-of-Year This symbol indicates values shown are End-of-Year This symbol indicates values are non-guaranteed and may be affected by dividends. This symbol indicates that a premium is payable unless the Guaranteed Annual Premium is shown as 0.

Symbol Definitions:

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Guardian Life Insurance Illustration Index Participation Feature Disclosure

Index Participation Feature Description:

The Index Participation Feature (IPF) is a rider that provides for a dividend adjustment that is linked to the performance of an external index. Policyholders can allocate between 0% and 100% of the cash value of paid-up additions (PUA) to the IPF each year. The IPF provides an adjustment to the dividend paid under the policy. This adjustment, subject to the cap rate and floor (shown below), may be positive or negative based on the S&P 500 Price Return index~ performance. Adverse market performance can create negative dividend adjustments which may cause lower overall cash values than would otherwise have accrued had the IPF not been selected. While the adjustment provided by this rider is affected by the S&P 500 Price Return index, it does not participate in any stock or equity investment of the S&P 500 Price Return index. Because the IPF is not a security registered with the Securities and Exchange Commission, agents do not need a securities license to sell it. The dividend after the adjustment provided under this rider will never be less than zero and the base policy guaranteed cash value will not be impacted. You elect an Allocation Percentage, which is the percentage of paid-up additions that will participate in the index. At any time you can change the Allocation Percentage. An index period will be created once a year approximately 30 - 60 days prior to your policy anniversary. The allocation percentage that is in effect at that time will determine the amount of paid-up additions that will be used to calculate the index adjustment provided under this rider. The schedule of allocation percentages that this illustration is based on is shown in the Narrative Summary report.

Index: S&P 500 Price Return index, which excludes dividends Index crediting Method: Annual Point to Point Index Period: One-year

The illustration is based on the following current non-guaranteed assumptions. These elements are assumed to remain unchanged for all years shown. THIS IS NOT LIKELY TO OCCUR AND THE ACTUAL RESULTS MAY BE MORE OR LESS FAVORABLE THAN THOSE SHOWN.

Current Floor: 4.00% Current Cap: 12.50% Current Participation Rate: 100% Current Rider Charge: 2.00%

While we have the right to change the above assumptions, they are subject to the following guaranteed assumptions.

Guaranteed Minimum Floor: 4.00% Guaranteed Minimum Cap: 8.00%

Guaranteed Minimum Participation Rate: 100% Guaranteed Maximum Rider Charge: 3.00%

Policy loans and surrenders of paid-up additions may reduce the basis on which the adjustment under this rider is made. If a loan or withdrawal is made where there is reduction to the index adjustment basis (except for withdrawals to pay a policy premium due on the anniversary) any rider charge that was paid based on the original index adjustment basis will not be refunded. The illustration may adjust the Allocation Percentage when loans or withdrawals are illustrated in order to avoid a reduction in the index adjustment basis. Any such changes are detailed earlier in the Narrative Summary. The Non-Guaranteed - Current columns of the Numeric Summary and Tabular Detail reports assume, after the assessment of the rider charge, an index interest rate of 8.48% in all years. This is equivalent to an index interest rate of 6.31% assuming a rider charge of zero.

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