Illustration Of A $1,000,000 Guardian Whole Life Policy Issued In 1983 - Actual Historical Policy Performance Through 2008

Male Age 40 - Best Class

Pre-Tax Pre-Tax
Equivalent Equivalent
IRR on Cash IRR on Death
Base Death Value Benefit
Duration Policy Dividend Cash Value Base Policy Benefit of Cash Assuming A Assuming A
(policy Attained Dividend - on Total Guaranteed of Paid Up Death Paid Up Total Cash Value Tax Rate of Death Benefit Tax Rate of
anniversary) Year age Premium EOY Additions Dividend Cash Value Additions Benefit Additions Value IRR 30.0% Total DB IRR 30.0%

1 1984 41 0 0 0 0 0 1,000,000 0 0 N/A 1,000,000 5345.14%

2 1985 42 1,090 0 1,090 16,000 1,090 1,000,000 3,214 17,090 -41.35% 1,001,090 590.01%
3 1986 43 2,590 104 2,694 32,380 3,819 1,000,000 10,913 36,199 -19.58% 1,005,908 241.19%
4 1987 44 3,840 336 4,176 49,130 8,115 1,000,000 22,483 57,245 -9.73% 1,015,089 140.14%
5 1988 45 5,030 675 5,705 66,250 14,074 1,000,000 37,811 80,324 -4.43% 1,028,188 95.14%
6 1989 46 6,040 1,101 7,141 83,730 21,650 1,000,000 56,423 105,380 -1.27% 1,044,952 70.44%
7 1990 47 6,930 1,591 8,521 101,560 30,831 1,000,000 77,972 132,391 0.74% 1,064,944 55.11%
8 1991 48 7,740 2,115 9,855 119,730 41,615 1,000,000 102,165 161,345 2.08% 1,087,827 44.80%
9 1992 49 8,650 2,768 11,418 138,220 54,271 1,000,000 129,386 192,491 3.03% 1,113,583 37.46%
10 1993 50 9,190 3,346 12,536 157,010 68,399 1,000,000 158,420 225,409 3.69% 1,141,922 32.02%
11 1994 51 9,190 3,718 12,908 176,080 83,285 1,000,000 187,477 260,415 4.18% 1,172,378 27.84%
12 1995 52 9,280 4,128 13,408 195,420 99,063 1,000,000 216,824 296,573 4.49% 1,202,975 24.52%
13 1996 53 9,280 4,432 13,712 215,020 115,550 1,000,000 246,018 333,710 4.68% 1,233,676 21.84%
14 1997 54 11,450 5,769 17,219 234,860 135,950 1,000,000 281,697 374,990 4.90% 1,267,417 19.66%
15 1998 55 14,590 7,155 21,745 254,930 161,377 1,000,000 325,566 421,537 5.15% 1,308,672 17.90%
16 1999 56 15,790 8,527 24,317 275,210 189,984 1,000,000 373,352 473,174 5.40% 1,357,863 16.46%
17 2000 57 16,470 9,674 26,144 295,680 221,086 1,000,000 423,422 527,506 5.59% 1,410,236 15.25%
18 2001 58 16,910 11,318 28,228 316,320 254,970 1,000,000 476,135 584,780 5.73% 1,465,140 14.21%
19 2002 59 17,250 11,908 29,158 337,090 290,518 1,000,000 529,254 643,858 5.81% 1,521,543 13.30%
20 2003 60 17,260 10,733 27,993 357,980 325,630 1,000,000 579,031 702,610 5.84% 1,576,247 12.49%
21 2004 61 16,520 10,822 27,342 377,730 360,766 1,000,000 626,514 758,926 5.79% 1,626,803 11.75%
22 2005 62 16,850 12,624 29,474 397,470 398,673 1,000,000 676,531 817,993 5.75% 1,677,838 11.10%
23 2006 63 17,187 13,064 30,251 417,180 438,009 1,000,000 726,721 878,469 5.70% 1,730,062 10.51%
24 2007 64 17,530 15,363 32,893 436,810 480,626 1,000,000 780,110 942,136 5.66% 1,784,314 9.99%
25 2008 65 17,880 16,991 34,871 456,330 525,872 1,000,000 835,513 1,008,332 5.62% 1,841,111 9.52%

This illustration represents a whole life policy issued to a 40 year old Male, best underwriting class, issued in 1983. It is a hypothetical policy. Guardian does not necessarily have such an inforce policyholder. Gross premium, net single
premiums and guaranteed cash values are taken from published rate manuals. Dividends up to and including 2008 are actual historical dividends that would have been credited to this policy assuming that dividends were applied to
purchase paid-up additions in all years. Furthermore, we assume no loans or withdrawal of policy value.

The Guardian Life Insurance Company of America, 7 Hanover Square, NY, New York 10004