There’s lots of reasons why you might only recommend life cover to a client – for example they can’t get, can’t afford or just don’t need critical illness cover.

All life cover pays out if you die, so just recommend on price. Right?

If only life was that black and white. Real life throws things at us that typical life policies aren’t designed for which can leave policyholders in unfair, often vulnerable situations.

Life cover is the foundation of every protection strategy, so we’ve focussed on solving these problems.

Where the problems lie:

Terminal illness

Problem

20% of cancers are diagnosed at stage 41. Although they’re terminal, it’s difficult to predict life expectancy so doctors are reluctant to do so. But terminal illness cover typically pays out only if someone is given less than 12 months to live.

Solved

Our Life Protection goes further. It guarantees to pay out if your clients are diagnosed with stage 4 cancer, motor neurone disease, Creutzfeldt-Jacob disease or Parkinson-plus syndromes, even if they’re expected to survive longer than 12 months.

Children’s critical illness cover

Problem

4,500 children and young people are diagnosed with cancer every year in the UK. That’s ten every day2. Yet typically, children’s cover is only available with adult critical illness cover. Meaning people who can’t get, can’t afford or don’t need it themselves can’t protect their children.

Solved

Our approach is much more flexible – your clients can add children’s critical illness cover to their life cover. They can add or remove it anytime, and can choose any amount from £10,000 to £100,000 (up to their own sum assured).

Waiver of premium

Problem

1 in 4 adults have no savings at all3. So, if things get tough financially, people can be tempted to stop paying life insurance premiums. Typically, you can choose to add waiver of premium, but as an extra cost, it’s often overlooked.

Solved

We think waiver of premium is a must-have. So, it’s included as standard. And we don’t just waive premiums if a client’s too ill to work; we also waive them for up to 6 months after they’ve had a baby, or if they lose their job.

Joint life

Problem

Typically, couples buy joint life cover. Mainly because they’re incentivised by the discount. But joint cover comes at a price; the policy ends after the first claim leaving the surviving partner without any cover.

Solved

We offer dual life. As with joint life, the couple still get the benefit of a discount, but we keep their policies separate so the surviving partner’s cover stays in place.

Discover more and register at adviser.guardian1821.co.uk

Sources:

  1. Cancer incidence by stage at diagnosis, Cancer Research UK, 15 February 2017
  2. Children with Cancer UK, Childhood Cancer Info, July 2019
  3. A quarter of British adults have no savings, The Independent, 20 March 2018