When you’re given a quote for a ‘life and critical illness’ policy, no extra life cover is recommended.
This means if you need to make a critical illness claim, you can be left without life cover, when arguably you may now have a greater need for it.
Our technology allows us to separate critical illness cover from life cover. That means you can make a critical illness claim without compromising the value of your life cover.
We also apply a multi-cover discount to make sure the overall cost of the combined benefits remains competitive.
To benefit from the discounts offered with a joint policy, couples must take out the same amount of cover over the same term. And it only pays out once.
The person who's left now has no cover and may be uninsurable. Or, the insurance may be really expensive due to age.
Our technology allows us to offer you a dual life policy, which means you and your partner each have your own individual cover. But because you applied together, we give you a multi-life discount.
And because both of you have your own cover, if one of you claims the other will still be protected. So there could be 2 payouts.
children's critical illness
Many providers automatically include children’s critical illness cover as part of the policy. The amount covered is usually limited to £25,000 or a maximum of 25% of the policy.
Everyone pays for it in the premium, whether they have children or not, and typically you can only have it with adult critical illness cover.
At Guardian, we believe you should be able to choose whether you want it and how much you want, and attach it to any adult policy. That means it’s readily available if you have children, but premiums are kept to a minimum if you don’t. This is possible with our technology.
Children’s Critical Illness Protection can be added to any parent’s life or critical illness policy. You can choose any amount between £10,000 and £100,000, to a maximum of the amount you’re covered for yourself.
What’s more, it can be added to a policy at any time in the future, so your cover can grow as your family grows. It can be removed at any time too.
policies in trust
To make sure claim payouts are outside an individual’s estate for inheritance tax calculations and don’t get held up by the probate process, most providers recommend policies are written in trust.
For many people, the process of completing a trust and choosing trustees can seem daunting and complex.
The result is that very few policies in the UK are placed in trust.
At Guardian, we have another option. You can nominate up to 9 beneficiaries with one simple question when you apply. We call this functionality Payout Planner.
It’s ideal for people with less complex inheritance tax needs who are not planning to set up a trust.
Payout Planner means payouts won’t be held up waiting for probate to be granted, and the people you want to get the payout get it quickly.
You can also change the beneficiaries at any time.