PREMIUM WAIVER
JO LOST HER JOB
AND CRITICAL
ILLNESS COVER
Jo lost her job as a chef. Money is now so tight that Jo’s been forced to cancel the critical illness policy she’s had for 10 years.
Jo plans to take out cover again when she’s back on her feet. But doesn’t yet realise that insuring herself again in the future will be much more expensive because she’s 10 years older.
Jo is not alone
124,000
PEOPLE WERE MADE REDUNDANT IN THE UK FROM NOVEMBER 2024 TO JANUARY 2025
Source: House of Commons Library, UK labour market statistics, 20 March, 2025.
THAT’S WHY, AT GUARDIAN, WE DO THINGS DIFFERENTLY
At Guardian, we understand that in certain situations money can get tight, and life would be a little easier if you could take a break from paying your premiums. So, if you become too ill to work, we’ll pay your premiums until you return to work. If you have a Life Protection, Critical Illness Protection, Combined Life and Critical Illness Protection or Income Protection, we’ll also also pay your premiums for up to 6 months if you’re made redundant or take maternity or paternity leave, as long as your policy has been in force for a year.
This is called Premium Waiver. Other providers offer it, but it’s an optional extra that you need to pay more for. With Guardian, it’s included as standard. For full details, view your policy terms and conditions.
The cost of cancelling cover and taking out cover again later in life:
Cost example
£100k of Combined Life and Critical Illness Protection:
Monthly premium if
cover is taken
out at age 35:
£44.24
V
Monthly premium if
cover is taken
out at age 45:
£85.70
Source: Guardian quote: female age 35 and 45, non-smoker, £100k
Combined Life and Critical Illness Protection, 25 years, 28 March 2025
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