Joshi, Sarika

Guardian Life Insurance Illustration Narrative Summary

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.

It may violate federal law to use policies whose rates vary by gender in qualified plans.

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.

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 Planning Concept report reflects loan, withdrawal or repay loan requests.

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

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.

August 28, 2019 ID:3204/Case ID:12734234

Version: 2.24.1

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