Dual Life
WHEN BECKY LOST HER
HUSBAND, SHE LOST
HER LIFE COVER TOO
5 years ago, Becky and her husband Dave bought a joint life policy. But it wasn’t till Becky made a claim that she realised the flaw in the plan.
A joint life policy only pays out once, on the first death, and is then terminated. So, although Becky received a payout after Dave died, she then found herself without life cover of her own.
It left her in a difficult situation. As a breast cancer survivor with 2 children, she still needed financial protection. But because of her age and medical history, finding cover again would prove costly, if not impossible.
Becky is not alone
22.7%
Of all life insurance
policies sold in 2019
were joint life
Source: Swiss Re, Term & Health Watch 2020
THAT’S WHY, AT GUARDIAN, WE DO THINGS DIFFERENTLY
We don’t offer joint life. Instead, we offer a dual life approach where both partners’ cover is kept separate. That way if either partner dies, the other is still covered.
Our dual life approach still only requires a single quote, application and direct debit. So, compared to the cheapest joint life policy, clients get double the amount of cover for just a small extra cost.
Cost example
£200k level life protection, 20-year term:
Joint life providing
a single payout:
£31.08
a month
V
Dual life providing
2 payouts:
£32.09
a month
IRESS quote: joint/dual life for a 45 and 40-year-old couple, non-smokers, £200k level life cover, 20 years. Joint life policy shows cheapest comparable product. 2 March 2021.
BOOK A ONE-TO-ONE PRODUCT BRIEFING
To find out more about Guardian, book a product briefing with one of our Business Development Managers.
Simply complete our online booking form and we’ll call you back.
