Guardian Policy e-Delivery & Funding Walk-Through


In today’s episode, we share James’ Guardian Policy e-Delivery & Funding as it happened in real time. Watch this walk through to see how easy it is to electronically sign your life insurance documents and make your first payment.

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Transcript

Welcome to Oregon Cash Flow Pro. My name is James Barber. I am here to help you maximize your cash flow! Well today, I am finishing up a policy that I applied for through Guardian and I wanted to show you what the process looks like to have that policy be delivered and to process your first payment. So, let’s get into it.

Oregon Cash Flow Pro offers free money management advice to help you take control of your finances. And now here’s your host, personal finance enthusiast and licensed insurance broker, James Barber.

So, go to your email and you will find one from Guardian with a Sign In link where you can access your documents. Click that and it will take you to a sign-in page. Now we’re at the sign-in page. We’re going to request a secure access code. Be sure to input these numbers correctly. You will only have 3 tries. Navigate back to your email to find the secure access code. Refresh the window if you need to. Then I am just going to copy and paste the access code into the box on the Guardian page. Then click sign in. 

We can see what’s going to happen across the top here. First, there’s going to be some health questions. Then we’re going to review and e-sign, and then we will go through the electronic payment. So, first, we need to agree to conduct business electronically. I have read these before. Feel free to read through it so that you know what it says. It’s going to be the same thing that you already accepted if you and I have already completed the application electronically, so I am going to hit Accept.

And now we have some health questions. So, if you had any health events pop up since you started the policy, you are going to want to put those in here. If you had to go to the doctor, the emergency room, if anything has changed from your application until now. Or even if it hasn’t changed but you might have had some type of an event that has caused you to seek out medical advice, that would be a good idea to put here as well. So, we’re just going to confirm that there have been no changes which would in any way make the information in my application incorrect or incomplete.

I am going to represent that the above statements are full, complete, and true to the best of my knowledge and I am going to hit Continue. Oh, be sure to check the box to say that there have been no changes and then hit Continue.

Now, click here to review our policy. Let’s click that. Clicking that downloads an unsigned watermarked copy of the policy. Now once they’re all signed, you’re going to get a copy anyways, so that is what this is saying. I actually don’t want a copy downloaded, so I am going to click no, cause I am satisfied with just getting a signed version. So, we’re going to click here to sign the document.

We need to accept the cookies in order to proceed. I am going to scroll down through this policy, but you can just click here and it will take you right to the next signature page that it’s requiring. So, in this case, that is going to be the only one I need to sign for the health certificate which I just filled out saying there has been no changes, so I am going to click that to sign. Confirm.

And now we have our e-signature instructions. Again, you can preview the policy if you want. I am just going to go to sign the document. You can see here at the top there is going to be one signature. So, I am going to scroll down because if you click this right away to sign, you will have to come back into it to see the rest of these pages. So, just so you can see, there isn’t really anything here. This is just acknowledging that the above contract was delivered to the policy owner.

I am signing as the policy owner even though you can see that I am also the agent. So, click to sign. Give it a second and it will move on to the next page. Now you can view the signed portion if you want to by clicking Close. But I am just going to continue to the next page — or the next document I should say. Okay, now we are going to set up my electronic payment. So, my payment amount is going to be $512 a month. The initial amount due is $2,048. This is set up with your agent when we do the application and we turn in the final illustrations.

So, if you are not expecting to — if you are expecting to put in more at the beginning, no big deal, you can always add more right after this is completed and you go to Guardian’s online site or the App. If you need it to be lower, let your agent know because they will need to do some changes. Guardian will try to withdraw the amount that it says is due right here. Now, it does say “View Alternate Payment Options” so I can change this now if I wanted to. If I wanted to go more frequent or less frequent. You can see how that would adjust the initial premium due.

Now, I am doing the monthly EFT because when I do it monthly, Guardian keeps my bank account information on file and it makes it easier for me to transfer money back and forth. I can still transfer money electronically if I don’t do monthly, I just have to give them by bank info every time I do it. For me, I’d rather just have them keep that so I set this up for monthly. 

In addition, when I set it up monthly, what comes out monthly is the base premium divided by twelve. Everything that I deposit above the base premium then each month will immediately go to paid up additions and turn into cash value. So, if you’re a client of mine, we’ve already discussed this so that is not new information for you, but if you’re not, you might wonder why someone would do monthly if they can pay the annual amount. That would be why.

So, if we set it up as annual, my base premium plus my scheduled paid up additions is $6,000. If I paid $6,000 today on day 1, I would only have a few hundred dollars of cash value available. However, when I schedule it as a monthly and if I pay $6,000 today I am going to have over $5,000 in cash value on day 1 that I can withdraw and use if I want to. So it adds quite a bit more flexibility. And of course I can always deposit up to the maximum unscheduled paid up additions at any point after I get this started.

So, I am going to stick with that payment frequency. We’ll go back to the last screen. Then I am going to have to put in my bank account information which it will automatically pull over from the app that we pre-filled out because I input this information when we did the original application. So, I am going to confirm my bank account numbers. Then we are going to pick whether we want the draft to happen on the 1st or the 15th of the month. Again, this is going to be pre-filled based on what we submitted with the original application, but you are welcome to change it here if you need to. And then we are going to submit payment.

And with the payment submitted, I am now officially covered by this life insurance policy. And there we have our confirmation page. I am just going to quickly look it over, make sure nothing jumps out. This is when the payment will take place, which is today. Then our payment amount.

Everything looks good. So, I am going to click Finish. And that’s it. There’s download instructions here. You can click to view and save your delivery receipt, view and save your policy, view and save your health statement. I am going to save my policy. So that automatically downloaded. You are welcome to save either of those two things as well.

Since I have all of this information on the back end as well, I am not going to save that, but it doesn’t take up much space on your computer, so I would suggest you save all three of these. Save them in a file for insurance so that if something were to happen, your loved ones would be able to easily find it and know what to do and know who to contact for any claims on a policy. And that’s it. The policy is done, delivered, I’m covered. Thanks for watching. If you want to find out more about Guardian, check out these videos right over here and we’ll see you next time.

Now, go maximize your cash flow.

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