Guardian has expanded its life cover offerings with the launch of Life Essentials, a new budget-friendly option now available on its quote and apply platform, Protection Builder, as well as on major portals.
Life Essentials aims to cater to clients prioritising cost in the wake of the cost-of-living surge, while the existing Life Protection caters to those seeking premium quality features.
Hilary Banks, sales director at Guardian, said: “The market has positively received our new Life Essentials cover, which is now ready for quotes and applications. It provides an alternative for advisers and their clients who need more affordable options without compromising on the essential qualities Guardian stands for.”
In conjunction with Life Essentials’ rollout, Guardian has updated its Protection Menu policy terms, notably increasing the interest rate on all Decreasing Covers from 5% to 8% to better reflect current mortgage interest rates and removing the Mortgage Guarantee. Additionally, the company has enhanced critical illness definitions for Dementia and Low-Grade Prostate cancer, aligning with the ABI’s recent critical illness minimum standards.
Banks further noted: “The introduction of more options aligns with our commitment to offer fair value across different customer segments, ensuring continued trust and positive outcomes within our industry. We look forward to collaborating with our advising partners to leverage this distribution opportunity and fulfill more clients’ protection needs.”
