This facility is available at our Nassau locations (Family Guardian Financial Center, Marathon District, Chippingham District and Carmichael District) and our Freeport Sales Office.

Family Guardian does not provide financial assistance to siblings or parents as co-applicants. Please consult further with a mortgage representative for more information.

If you are seeking 95% financing, you are responsible for the closing fees out of pocket. They cannot be financed with the mortgage. If you are seeking an equity loan or consolidation of debts, we can request financing to include closing costs provided the loan does not exceed 80% of the value of the collateral pledged, subject to qualifying for the payment.

Upon completion of the respective Company form and payment of the processing fee, a certificate will be provided.

Upon completion of the respective Company form declaring that the policy was lost or misplaced and payment of the processing fee, a duplicate policy will be provided.

A lapsed policy can be reinstated as per the terms of the contract. This reinstatement is subject to (1) the insured providing satisfactory evidence of insurability to the Company, (2) payment of all past due premiums, and (3) payment or reinstatement of any loan on the policy. If the evidence provided is not accepted or found not to be satisfactory by the Company, all monies paid for this transaction will be refunded to the owner and the policy reinstatement is declined.

Loans are not granted against term policies as they have no savings features, i.e., cash value or dividends.

Participating policies accumulate dividends that may be withdrawn at any time unless they have been applied under the policy loans and indebtedness or guaranteed values provisions of the policy. A dividend withdrawal form must be completed for processing.

A loan may be repaid in full at any time while the policy is in force.

Assignees can be removed at any time with the written consent of the assignee.

An assignment transfers ownership to a third party while the assignment is in effect. A bank or other financial institution may require life insurance as a condition for a loan. Policy assignments can be processed for the sum insured provided the policy is paid current and the signature of the irrevocable beneficiary, if any, is obtained. Assignment forms are typically provided by the financial institutions and when completed should be submitted to Family Guardian for processing.

There are two types of beneficiary designations: revocable or irrevocable. Certain designations such as spouse and children are mandated by law to be irrevocable based on the issue date of the contract. The policy owner cannot change the beneficiary without their consent. The signature of the irrevocable beneficiary is also required on policy assignments, loans and surrenders in order for these to be processed. A revocable beneficiary can be changed by the policy owner at any time without the consent of the beneficiary by completing a change of beneficiary form. Changes should be requested on relevant forms provided by Family Guardian and when filed and recorded the change will take effect on the date of the request provided no death claim payment was made before the change was recorded.

Once the first premium has been paid, a grace period of 31 days is allowed to pay each subsequent premium. During this grace period, the policy will be in force. If the insured dies during the grace period, the unpaid premium will be deducted from the proceeds.

Your bank account is debited immediately

An authorization form must be completed in the presence of a Family Guardian representative. This form includes your banking information. Once the form is completed, it is processed by our Premium Processing Department and payments can start immediately.