The Guardian brand has a long history of helping to protect families. First launched in 1821, it re-entered the UK protection market in 2018 with the intention of reinventing protection insurance for the better. Guardian is committed to providing fairer, clearer policies that are easy to understand and that you can truly believe in. Here’s how:
- Crystal clear policy wording so you know what you’re covered for.
- Flexible Protection Menu that allows an adviser to build a policy that’s exactly right for you.
- Broad definitions for most illnesses, so you’re better protected.
- Claim payouts made, in many cases, on the word of a UK Consultant.
Guardian has gained recognition and awards from independent industry experts such as CIExpert, Defaqto and Protection Guru.
Guardian’s partnership with Scottish Friendly Assurance Society Limited (SFA) gives it access to experience and expertise through SFA’s tried-and-tested white-labelling model in the UK protection market. SFA is one of the largest mutual life offices in the UK – one that’s been around for over 160 years. Scottish Friendly has a Strong (B) rating from independent ratings agency AKG. You can view their Solvency and Financial Condition Report here (https://www.scottishfriendly.co.uk/about-us/solvency-two). The business is also partnering for risk reinsurance with 3 global reinsurers, Gen Re, Hannover Re and Swiss Re.
This provides an additional layer of financial support and strength for the business proposition.
Flexibility
A Guardian policy is flexible, and can provide the ideal platform onto which you can build your perfect protection plan. It means you can combine different types of cover for different amounts and for different lengths of time, allowing the policy to be tailored to meet your needs. And if your needs change, you can refresh your policy by adding and removing cover, or by changing the cover you already have.
Cover Upgrade Promise
When providers make improvements to the quality of their critical illness cover, the benefits are only available to new customers. Importantly, if Guardian critical illness definitions improve, in most cases* they will apply the improvements to existing customers’ policies completely free. If a claim has already been started Guardian will check it against both the definitions they bought and the definitions for new customers. And they will pay out if the claim is valid under either.
*Occasionally, Guardian may introduce improvements to their critical illness definitions that they won’t automatically upgrade. If this happens, they’ll offer existing customers the opportunity to pay to add these definition improvements to their cover.
Dual Life Approach – With Guardian’s dual life approach, each policy holder has their own individual cover.
Many insurance companies 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!
Terminal Illness
Most life insurers won’t pay out until the customer can prove they have less than 12 months to live. But making this prediction is hard, so many doctors are reluctant to do so. This means many people can spend much of their remaining life worrying about when they’ll get their payout rather than making the most of the time they have left. Importantly, Guardian don’t need to see evidence that the policyholder has less than 12 months to live before they pay out. Their Life Protection not only pays out if a policyholder is expected to survive for less than 12 months. Uniquely, they also guarantee to pay out if they’re diagnosed with incurable stage 4 cancer, regardless of their life expectancy. And they do the same if they’re diagnosed with Motor Neurone Disease (MND), Creutzfeldt-Jakob disease (CJD) or Parkinson-plus syndromes.
Premium Waiver
With a protection policy, your premiums need to be paid to keep the cover in place. To protect your policy from lapsing in times of financial difficulty, Premium Waiver (on an ‘Own Occupation’ basis) comes as standard with every Guardian policy. If you’re too ill or injured to do your job, your premiums will be waived until you return to work, starting 4 weeks after you’re unable to work and your salary has reduced by 25% or more.
This means you don’t need to worry about how to pay for your policy when you’re unable to work.
Payout Planner
As a simple solution to make sure your family get your life cover payout quickly, Guardian have Payout Planner, an easy to set up beneficiary nomination.
You can nominate up to 9 beneficiaries as part of your application process, who will receive your payout if you die during the term of your policy. This means any payout doesn’t form part of your estate and isn’t subject to inheritance tax (IHT), so payouts bypass probate and go directly to your most recently nominated beneficiaries.
Guaranteed Increase Options
Guardian policyholders accepted on standard terms, and most policyholders offered revised terms, will get the chance to add to their cover with no underwriting, no medical evidence and no application form. If you’re eligible for this option it will be shown on your cover summary.
You can increase your cover on certain events – such as buying a new house, having a baby or getting a pay rise. Guardian will calculate your new premiums based on the original underwriting, your age at the time of increase and the number of years left on your cover.
This means you can increase your cover, without having to go through the application process again. If you want to take up this option, just let me know.
Immediate Cover
If your cover can’t start right away, Guardian may put Immediate Cover in place for you. If available, this would be temporary cover, of the same type you’ve applied for, and it starts as soon as your application is submitted to make sure there are no gaps in your protection.
Immediate Cover isn’t available with Income Protection.
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.
As with all insurance policies, conditions and exclusions will apply