The updates apply to Guardian’s Life Protection, Life Essentials, Critical Illness Protection, and Combined Life and Critical Illness Protection products.
FCA data reveals low satisfaction and understanding among life insurance customers, prompting calls for clearer communication and improved support.
The research, sponsored by Guardian and conducted by iPipeline, follows the Financial Conduct Authority (FCA) review last year into terminal illness benefits offered within life insurance policies.
The average life insurance gap for households with dependents is £89,800, Hargreaves Lansdown has revealed.
In 2023, 1,997,450 new term assurance, whole life, critical illness, and income protection policies were purchased.
Over the past five years, Legal & General has paid out over £4bn in claims to its protection customers.
Guardian will now offer customers a new low-cost life cover option.
This data is the result of a survey of 2,000 workers, which aims to highlight their most pressing financial and health concerns over the past year.
Craig Paterson said: “We continue to focus on improving our customer journey to make it quicker and easier for customers to obtain cover in the shortest time possible."