adding and increasing cover
If in the future you want to increase or add a different type of cover to your policy, a new application form needs to be completed and underwritten all over again.
What’s more, the rate applied to any additional cover will be higher because you’re older.
At Guardian, we think improving your protection shouldn’t be hard work.
So, our single question set underwriting philosophy and Reserved Cover gives you the power to increase or add new cover on the same terms as your initial cover for up to 27 months.
GUARANTEED INCREASE OPTIONS
Most providers allow you to increase your existing cover using a guaranteed increase option (GIO) should a specific life event take place.
However, the process is far from easy. Often, providers require a new application with new medical evidence, then age limits are applied and the additional cover is subject to current pricing.
The result is GIOs are rarely taken out.
At Guardian, we offer most policyholders the chance to add to their cover for key life events with no underwriting, no medical evidence, no application form and no age limits.
All we need is an email request to say you'd like to use a GIO.
And, most importantly, we price any increased amount on the same basis as the original policy.
Guardian Financial Services Limited is an appointed representative of Scottish Friendly Assurance Society Limited which is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority.
Registered office: Scottish Friendly House, 16 Blythswood Square, Glasgow G2 4HJ. Registration number 110002.
Guardian Financial Services Limited is registered in England and Wales under number 11115769. Registered office: 11 Strand, London WC2N 5HR.