Guardian Life Insurance – Introduction
Founded in 1821, Guardian Life Insurance offers a variety of insurance products, including life insurance (life protection), critical illness cover, children’s critical illness protection and fracture plus protection.
This insurer was acquired by ReAssure in 2016 and re-branded as Reassure Life Limited that same year. In 2017 Guardian were bought by Gryphon Group Holdings.
Guardian’s products are only available through advisers such as Black Lion Insurance.
Guardian Life Insurance. Your At-a-Glance and Comparison Guide
Taking out insurance against critical illness, a terminal illness or your unexpected demise is one of life’s “difficult subjects” but sometimes, disaster happens practically as we’re looking the other way.
Here at Black Lion Insurance, we think that planning for the unplannable or rather, for the unthinkable is a wise move. If the money stopped coming in, how would you manage? How would your family cope financially if you died?
Regarding injury, if you are unable to move through serious illness, suffer a fracture, tendon tear or a ligament rupture (ouch), you may also be unable to work. You could receive pay outs via Guardian Life Insurance.
If your child develops a serious illness, dependent on their condition, if you add this to your policy you will receive a lump sum so that you may care for them.
If you die, your family will receive a lump sum, too.
Cover from Guardian is only available via accredited advisers such as Black Lion Insurance. Of course, this is an even better reason to give us a call.
We’re unbiased. If this type of policy is right for you we’ll recommend it and can set everything up. Should you need to claim (of your family need to claim in the event of your death), we’ll take care of everything.
Here the key things you need to know about Guardian Life Insurance:
- Guardian’s critical illness policy pays out in the case of a heart attack, stroke or any The condition must be diagnosed by a consultant in the UK and as with all claims, you will need proof of your condition. This is a lenient stipulation, as some insurers will only allow you to claim if your illness or condition reaches a certain critical level.
- This insurer covers 75 illnesses with full pay with critical illness cover, plus a further 21 conditions which are subject to additional premiums. Guardian will pay out an amount equal to 25% of the overall sum assured. If one of the full payment conditions arises suddenly, they will also pay out in full.
- Guardian’s terminal illness benefit will pay out if you, the policy holder, are diagnosed with a terminal illness with less than 12 months to live. It will pay out early. They will also pay out if you are diagnosed with motor neurone disease, CJD, stage 4 cancer, or Parkinson-plus syndrome. These latter conditions will be accepted whether the diagnosis is terminal or not.
- Children are not automatically included in the policy; you will need to extend or amend your insurance. You do not need to have purchased critical illness cover for yourself to add the children’s benefit.
- Your premium payments will be waived if you claim due to illness. Guardian is however unique in also applying this waiver to policy holders on maternity or paternity leave and if you lose your job due to redundancy.
- Guardian offers decreasing term life insurance. This mean that instead of being obliged to choose a specific mortgage interest rate when you purchase cover, they will guarantee to repay your mortgage balance when you claim whatever the rate of interest.
- Increasing life cover is also available, with the amount you have insured increasing in line with inflation annually.
- Guardian Life Insurance includes a policy upgrades offer to existing customers if you make improvements to your critical illness definitions, meaning that you benefit from the most up to date and comprehensive cover.
Overview of Key Policy Details – Guardian Life Insurance
|Policy Type||Life Insurance and Critical Illness|
|Options||Level Term/Decreasing Term/Increasing Term/Family Income Benefit|
Single Cover and Dual Cover
Technically, no dual cover is available. Two single policies can be packaged together in a dual plan.
|Type of premium||Guaranteed|
|Terminal Illness Cover||Yes, included|
|Optional Critical Illness Cover||Yes|
|Critical Illnesses Covered||
Plus 21 additional critical illnesses which entitle you to a percentage of your benefit or a fixed pay out.
|Indexation||Optional. Benefit increases capped at 10% per increase. Premiums will increase 1.5 times the increase applied to the amount of benefit|
|Waiver||Automatic and at no extra cost|
£20 million for life insurance
£3 million for life and critical illness cover
|Minimum Life Cover Term||
1 year for life insurance only
5 years for life and critical illness cover
|Minimum Entry Age||18 years|
|Maximum Entry Age||65|
|Policy Exclusions||No general exclusions|
Some More Key Points About Guardian Life Insurance Explained
- Guardian offers guaranteed insurability for the following:
- Increased mortgage term
- Taking out a new mortgage or increasing payments on your current mortgage
- A substantial increase in your salary
- Getting married or entering into a civil partnership
- Birth or adoption of a child
- Loss of group cover
- Inheritance tax increase
- Guardian does NOT offer ”official” joint first death cover. Should you need this, you may each take out separate policies which Guardian will combine under a menu plan with discounted premiums.
- Fracture Cover. You may add optional fracture cover to your policy either at the start or at any time. Should you suffer certain fractures, ligament tears, ruptures or a dislocation, you will receive up to £6,000. This is a lenient policy option as you may take out additional fracture cover regardless of any energetic or extreme sports or hobbies you may carry out.
- Guardian HALO offers a flexible support and assistance team to policy holders, offering access to certain services depending on need. For example, speech therapy, counselling, legal advice and even home help.
- Guardian Anytime offers all policy holders access to a second opinion and a 24/7 remote private GP consultation.
Do YOU need advice from Black Lion Insurance?
In the case of Guardian Insurance, you may only purchase their insurance cover through an accredited insurer such as Black Lion, for instance.
So, in this case the answer is yes – you MUST speak to us.
However, we’re holistic, whole of market consultants and can find and recommend the right policy for your circumstances and your lifestyle. Should the worst happen, robust insurance cover is your vital lifeline and safety net. Give us a call to find out more.
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Part of Halo Consulting, Black Lion Insurance are a dedicated team of insurance consultants with years of experience in guiding our clients to a solution that meets their specific needs. We specialise in helping both employed and self employed individuals, as well as business owners on a variety of solutions, which range from life insurance, income protection insurance, keyman insurance and shareholder protection insurance.
The guidance and/or information contained within this website is subject to the UK regulatory regime, and is therefore targeted at consumers based in the UK