HANNAH AND LUCINDA
Age
Hannah 41
Lucinda 38
Relationship
Not married
Children: Erin, age 2
Mortgage
£200,000
20 years remaining
Hannah's Earning
£60,000 a year
Private Dentist
Lucinda's Earning
Stay-at-home parent
EMPLOYER SICK PAY FOR HANNAH
6 months
Full pay, then no pay.
Hannah and Lucinda’s POLICY
Cover 1
Decreasing Life Protection for Hannah
£200,000
Cover 2
Decreasing Life Protection for Lucinda
£200,000
Cover 3
Increasing Income Protection for Hannah (2-year payment period and 26 weeks deferred period)
£3,250 a month
(the maximum cover amount allowed of 65% of her annual earnings)
Cover 4
Critical Illness Protection, Family Income Benefit for Lucinda
£1,000 a month
(to cover her support as a stay-at-home parent)
Cover 5
Children’s Critical Illness Protection
£43,849
(a year of Hannah's salary after tax and national insurance)
Premium: £130.03 a month
Guardian quote 20 year term, non-smoker, 5 February 2024.
WHY CHOOSE GUARDIAN?
We do a number of things differently to other providers. Here’s how Hannah and Lucinda are better protected with Guardian
1
Many providers offer a joint life policy at a discounted price for couples. However, if one partner dies, the policy pays out and is then terminated which leaves the surviving partner with no cover.
At Guardian, we offer a dual life approach. Hannah and Lucinda’s cover is kept separate so if one of them dies, the other is still protected.
2
If a client is diagnosed with a terminal illness, most providers will only pay out when a doctor confirms they have less than 12 months to live.
At Guardian, our Life Protection pays out if Hannah or Lucinda is diagnosed with incurable stage 4 cancer, motor neurone disease, Creutzfeldt-Jakob disease or Parkinson-plus syndromes even if they’re expected to live for longer than 12 months.
3
Most providers include children’s critical illness cover with adult critical illness policies, and limit the amount to £25,000. That means clients who just want life cover, can’t get cover for their children. And, if they want critical illness cover but don’t have children, they end up paying for children’s cover they don’t need.
With Guardian, Lucinda and Hannah can add our optional Children’s Critical Illness Protection to their Life Protection, and choose any amount up to £100,000. They chose £43,849 to cover Hannah’s salary and give them some breathing space if Erin becomes unwell.
4
Our Payout Planner allows Hannah and Lucinda to nominate beneficiaries and allocate a percentage of any potential life cover payout to each beneficiary during the application process.
This makes sure the proceeds of any life cover claim reach the the people Hannah and Lucinda want to receive the money, without having to wait for probate. They can nominate up to 9 beneficiaries for each cover that includes life cover.
5
There’s more to a Guardian policy than a payout. Our claims service HALO offers tailored physical and mental health support, as well as legal support, to clients and their immediate family at point of claim.
Hannah and Lucinda also benefit from Guardian Anytime, a service that gives them access to a GP 24/7, UK-based face-to-face second medical opinions, and over the phone consultations for emotional wellbeing and aches and pains.
Our protection menu means advisers can meet the needs of every client quickly and efficiently, to provide customers with better cover.
Linda Holmes
Chief Technology Officer