Guardian Life Insurance Review 2023

In this comprehensive Guardian Life Insurance Review, we delve into the world of Guardian Financial Services Limited, a renowned UK-based financial services company (registered in England and Wales under number 11115769) that offers an impressive array of life insurance products tailored to meet the diverse needs of its customers. As an appointed representative of Scottish Friendly Assurance Society Limited, Guardian is committed to providing its clients with top-notch services, including Life Protection, Critical Illness Protection, Combined Life and Critical Illness Protection, Income Protection, and the optional Children’s Critical Illness Protection. With a strong focus on flexibility, Guardian empowers customers to select the ideal protection level that aligns with their unique requirements.

Guardian Life Insurance Products

Guardian Life Insurance provides a variety of products designed to meet the specific needs of their customers. These products include:

• Stand-Alone Life Protection
• Stand-Alone Critical Illness Protection
• Combined Life and Critical Illness Protection
• Optional Children’s Critical Illness Protection
• Stand-Alone Income Protection

Stand-Alone Life Protection

This policy offers financial security to your family if you pass away. Guardian Life Protection offers a lump sum payout or a monthly income, ensuring that your loved ones are left with a comfortable home and lifestyle rather than debts and financial worries.

Key Features:

• Available as single or dual life cover
• Choice of level, decreasing, increasing, or family income benefit cover
• Fixed or inflation-linked cover

Stand-Alone Critical Illness Protection

This policy provides a financial payout if you are diagnosed with a critical illness, such as heart attack, stroke, or cancer. Guardian Critical Illness Protection offers a lump sum payout, helping you cope during a challenging and uncertain time.

Key Features:

• Available as single or dual life cover
• Choice of level, decreasing, increasing, or family income benefit cover
• Fixed or inflation-linked cover

Combined Life and Critical Illness Protection

This policy offers a single payout if you die, become critically ill, or are diagnosed with a terminal illness. Guardian Combined Life and Critical Illness Protection provides financial security for your loved ones in the event of your death or serious illness.

Key Features:

• Available as single or dual life cover
• Choice of level, decreasing, or increasing cover
• Fixed or inflation-linked cover

Optional Children’s Critical Illness Protection

This policy provides a lump sum payout if your child is diagnosed with a critical illness, helping you cover the costs of their care and treatment. Guardian Children’s Critical Illness Protection can be added to your existing Guardian policy at any time.

Key Features:

• Cover amounts between £10,000 and £100,000
• Limited to the amount of cover within your chosen policy

Stand-Alone Income Protection

This policy offers a monthly income if you are unable to work due to illness or injury. Guardian Income Protection ensures that you can continue to pay bills and maintain your lifestyle until you are well enough to return to work.

Key Features:

• Choice of level or increasing cover
• Flexible policy terms and deferred periods
• 2-year or full-term payment periods

Features and benefits of Guardian life insurance

There are a range of benefits to choosing Guardian as your life insurance provider. For instance:

• You get a wide selection of term insurance policies.
• Joint policies are available.
• Free 24/7 GP access.
• Access to a second medical opinion.
• Support on navigating NHS services.
• Counselling.
• Solicitors to handle the probate process.

The company’s aftercare service, HALO, encompasses many of these features. It’s clear that Guardian is customer-focused and works to ensure that you and your family are cared for and supported throughout the claims process.

Overview of Guardian life insurance key policy details

We compare plans from the leading life insurance providers Compare quotes now

Guardian life insurance ratings

Guardian Life Insurance UK has consistently received top ratings for its range of life insurance products, reflecting the company’s commitment to providing excellent coverage and peace of mind to its policyholders. Defaqto, an independent financial research company, has reviewed and rated Guardian Life Insurance UK’s plans. All of the plans offered by the company achieved a 5-star rating, the highest possible score awarded by Defaqto.

A 5-star Defaqto rating signifies that the insurance products are among the best in the market, offering a comprehensive range of features and benefits to the policyholders. Here’s a summary of the ratings for each type of plan offered by Guardian Life Insurance UK:

1. Critical Illness Protection (standalone): This standalone critical illness plan received a 5-star rating, indicating that it provides exceptional coverage for policyholders diagnosed with a critical illness. The high rating signifies that the plan offers excellent financial support to help cover medical expenses, rehabilitation, and living expenses during recovery.
2. Life Protection & Critical Illness Protection (decreasing): This combined life assurance and critical illness protection plan also achieved a 5-star rating. The decreasing term feature ensures that the cover amount reduces over time, typically in line with a repayment mortgage. The high rating underscores the plan’s effectiveness in providing comprehensive financial protection in the event of death or diagnosis of a critical illness.
3. Life Protection & Critical Illness Protection (level term): This combined policy offering life assurance and critical illness protection with a level term feature earned a 5-star rating as well. The level term ensures that the cover amount remains constant throughout the policy term, providing a fixed lump sum payout in case of death or diagnosis of a critical illness.
4. Life Protection (decreasing): The decreasing term life assurance plan from Guardian Life Insurance UK received a 5-star rating, reflecting the plan’s ability to provide financial security for the policyholder’s loved ones in case of their death. The decreasing term feature ensures that the cover amount reduces over time, generally in line with a repayment mortgage.
5. Life Protection (level term): This level term life assurance plan also achieved a 5-star rating. The level term feature ensures that the cover amount remains constant throughout the policy term, offering a fixed lump sum payout to help support the family’s financial needs in case of the policyholder’s death.

These exceptional ratings from Defaqto demonstrate Guardian Life Insurance UK’s commitment to offering comprehensive and high-quality life insurance products. Policyholders can trust that they are receiving top-notch coverage and benefits when they choose Guardian Life Insurance UK.

How much does Guardian life insurance cost?

The cost of a life insurance policy will depend on various factors, including your age, occupation, smoking status, health, and medical history. It’s essential to be truthful and honest when disclosing this information to Guardian, as your family and loved ones could have a claim declined if the company finds a breach of contract.

It’s always best to contact the company directly to get an exact quote, but to give you an idea of the costs involved with life insurance, here is an example:

• A 40-year old non-smoking applicant looking for £300,000 to cover mortgage and living costs over 25 years will pay around £19 per month.
• The same application but with added critical illness cover would pay around £130 per month.

How to improve your life insurance premium

If you feel that the quoted premiums are too high, you should look to improve the factors under your control. Smoking, for example, has a significant effect on your insurance costs. If possible, you should also start living a healthier lifestyle and lose weight. Improving your overall health is one of the best ways to lower insurance costs.

In addition, shopping around for a policy will ensure that you find the best deal. You can do this through an insurance broker or a price comparison site. The first few quotes you receive aren’t always the best on the market, so make sure to look around.

How to Make a Claim on a Guardian Life Insurance Protection Policy in the UK

To make a claim on a Guardian Life Insurance Protection Policy in the UK, follow these steps:

1. Contact your Financial Adviser: If you have a financial adviser, get in touch with them first. They can help guide you through the claims process and provide assistance.
2. Call Guardian’s Claims Team: If you don’t have a financial adviser, or you prefer to contact Guardian directly, call their Claims Team at 0808 173 1821. They will provide guidance on how to make a claim.
3. Identify the claimant: If you, the policyholder, are still alive and making a claim due to a covered critical illness, you will be the one to initiate the process. However, if the policyholder has died within the policy term, the nominated beneficiary, trustee of the policy (if it’s in trust), or executor of the estate should make the claim.
4. Provide necessary information: When calling the Claims Team, be prepared to provide the necessary information, including the policy number, policyholder’s name, and details of the claim (e.g., date and cause of death, or details of the critical illness).
5. Complete required documentation: Guardian’s Claims Team will guide you through the necessary paperwork required to process the claim. This may include completing a claim form, providing a death certificate, medical records, or any other relevant documents.
6. Submit the claim: Once all required documentation is completed and gathered, submit it to Guardian as instructed by their Claims Team.
7. Await claim assessment: Guardian will assess the claim and determine its validity based on the policy’s terms and conditions. They may also request additional information or documentation if needed.
8. Receive the claim payout: If the claim is approved, the payout will be made according to the policy’s terms and conditions, either as a lump sum or through other agreed-upon payment methods.

Throughout the process, keep in touch with your Financial Adviser or Guardian’s Claims Team to ensure you understand the steps and requirements, and to address any questions or concerns you may have.

Is Guardian life insurance right for you?

If you’re seeking an insurance provider with heritage and a track record of paying out claims, Guardian could be the company for you. The company’s Halo support package can be a fantastic source of help for you and your family during what would be a difficult period. From buying a policy to making a claim, the company’s customer service team is always available to help you during the process.

On the other hand, Guardian isn’t the right company if you’re seeking a whole life insurance policy or an Over 50s policy, since it doesn’t currently offer those solutions.

Defaqto ratings