There are several public beaches in Vero - all of which have life guards. The Disney resort is on a private beach, so no life guards. I believe all of HH has public life guards.
I doubt a private beach could afford the insurance to guard the beach.
But PP is correct - there's a public beach right next to the Disney resort (in front of Orchid Island Pizza) and it is guarded.
Oh - and guarded beaches in Vero don't allow umbrellas unless they are WAAAAAY back :-(