decreasing mortgage cover
Most providers work out decreasing mortgage cover premiums using an artificially high mortgage interest rate.
This means you pay more to make sure any payout always exceeds the outstanding mortgage amount.
At Guardian, we calculate premiums using a realistic long-term interest rate, which reduces the cost.
And if any payout falls short of the outstanding mortgage, we guarantee to pay the difference at no extra cost, as long as your mortgage isn’t in arrears when the claim's made.
When providers make improvements to the quality of their critical illness cover, the benefits are only available to new customers.
That’s hardly putting your existing customers first!
We believe existing customers should be treated as well as new ones. If our critical illness definitions improve, in most cases we’ll apply the improvements to existing customers’ policies completely free. If you have to make a claim, we check it against both the definitions you bought and the definitions for new customers. And we pay out if the claim is valid under either. Occasionally, we may introduce changes that we won’t automatically upgrade. If this happens, we’ll offer you the chance to pay to add them.
waiver of premium
Most providers offer waiver of premium as an optional extra. However, if you have poor heath or a poor lifestyle, you can be denied this option and miss out on this valuable benefit.
At Guardian, Premium Waiver comes as standard. This means that if you need to claim, your cover can continue without you having to pay your premiums. And we not only waive premiums if you’re too ill to work, we also waive them for 6 months after you have a baby or if you lose your job.