Life insurance is designed to pay out when the policyholder dies. It’s intended to ensure your family are not left facing difficult choices. These could include struggling to pay the mortgage or keep up with school fees.
Life insurance isn’t compulsory, and not everyone needs it. However, it’s a good idea if you:
– Are married
– Have a joint mortgage with your partner
– Are a parent
– Support other people with your salary (e.g. elderly parents)
– Are a stay-at-home parent
If you’re single and no one relies on your salary, you probably don’t need life insurance.
It’s easy to assume that all life insurance is the same and the only point of difference is price. However, there are many insurers to choose from and some policies may be more suitable than others depending on your requirements, circumstances and medical history.
In this post we look at the life insurance offered by Guardian and how the enhanced features they offer mean their cover provides excellent protection.
Guardian Life Cover Highlights
- DUAL LIFE APPROACH PROVIDES BETTER COVER FOR COUPLES – many providers offer a joint life policy for couples. However, if one partner dies, the policy pays out and it ends which leaves the surviving partner with no cover. Guardian offer a dual life approach where both partners’ cover is kept separate. That way, if either partner dies the other partner’s cover remains in place. Guardian’s dual life approach still only requires a single quote, application and direct debit. Compared to the cheapest joint life policy, clients get twice the amount of cover for just a small extra cost!
- YOUR PREMIUMS ARE REVIEWED IF YOUR HEALTH IMPROVES – Smoking, weight, occupation, and sports activities can all impact your premiums. So, if you quit smoking, lose weight, change to a lower-risk occupation, or give up a high-risk sports activity, Guardian will review your premiums and lower them if possible.
- YOUR PREMIUMS COVERED IF YOU’RE UNABLE TO PAY FOR THEM – With a protection policy, your premiums need to be paid to keep the cover in place. So, if you become too ill to work and your income reduces, Guardian will pay your premiums until you return to work. Guardian will also pay your premiums for up to 6 months if you’re made redundant or take maternity or paternity leave, as long as your policy has been in force for a year.
- YOU’RE COVERED FROM THE MOMENT YOU APPLY – As soon as your application is submitted you can be covered under Immediate Cover. It’s the same as the type you’ve applied for and pays out a maximum of £1 million. This means if you die before your policy starts, you’ll still be covered.
- NO STANDARD EXCLUSIONS – Guardian will pay out on any cause of death, including suicide, from day one.
As with all insurance policies, conditions and exclusions will apply