Guardian Life Insurance provides insurance cover designed to help fill the financial gap for your family if the worst were to happen and you were to suddenly pass away. Guardian Life Insurance is insurance that pays your chosen benefit – from $100,000 up to $1.5 million (depending on your age) that can be used by your loved ones to help with the mortgage or rent, loans, school fees or for day-to-day living expenses. Even if you already have life insurance (for example through your Superannuation), Guardian Life Insurance can be used to boost your cover levels to take account of increasing costs that comes with inflation and a growing family. Guardian Life Insurance isn't just for the main breadwinner. The loss of a partner who takes care of the home and children could add to family expenses for things like childcare, transportation and housekeeping. That's why we offer the flexible Joint Plan – where you and your partner can be insured on one policy and you can each select your individual benefit amount.
Life is unpredictable and we never know what lies around the corner. If you wait until you are unwell, the cost of life insurance could substantially increase, and it may also be difficult to obtain. Once you have your Guardian Life Insurance in place, you can keep it for life, and we guarantee to renew your policy, providing you continue to pay your premiums when due, regardless of changes to your health or pastimes.
You can tailor the benefit amount to suit your needs and budget. With Guardian Insurance, if you are an Australian resident aged 18 to 44 you can select a benefit amount of up to $1.5 million, those aged 45 to 54 can select up to $800,000, those aged 55 to 59 can select up to $500,000 and those aged 60 to 64 can select up to $300,000. Homemaker's are eligible for a maximum of $1 million. The minimum benefit amount is $100,000, and you can select your chosen benefit in increments of $50,000, up to the maximum. While your claim is being assessed we will advance $15,000 of your benefit, to help with funeral costs and other unexpected expenses. You will be protected for the full benefit amount you choose from the very first day your cover takes effect (subject to the policy terms and conditions as set out in the PDS) and you can keep your full cover for life. The benefit will not decrease as you get older, or due to changes to your health.
Homemaker means the Life Insured who is the main provider of domestic duties within the family home and if also in paid employment, working for less than 10 hours per week.
Domestic duties are the tasks performed by a Life Insured whose main occupation is to maintain their family home.
These tasks are:
- cooking of meals for their family;
- cleaning of the home;
- shopping for their family's food;
- doing their family's laundry; and
- taking care of dependent children (if applicable).
Domestic duties do not include duties performed outside the person's home for salary, reward or profit.
To help ensure that your level of insurance cover keeps up with increases in the cost of living and your changing lifestyle, your cover level is automatically increased on each policy anniversary by 5%. You can decline this increase by writing to us if you wish. The automatic increases stop at the policy anniversary after you reach age 70.
With the Terminal Illness Benefit you can elect to claim your full benefit if you are diagnosed as being terminally ill (with 12 months or less to live). This special benefit may help you get the best medical treatment available, put your personal affairs in order or settle other debts.
Yes. There are a range of options so you can tailor the cover to suit your needs. Options include Children's Insurance, Total & Permanent Disability Insurance, Accidental Death Insurance and Serious Illness Insurance.
These are detailed under the Options tab.
All Australian residents and their partners aged between 18 and 64 are eligible to apply for Guardian Life Insurance. A medical examination is not required as insurability will be determined by your answers to a few health and lifestyle questions.
Once accepted you're immediately covered for death by any cause except for suicide or intentional self-injury in the first 13 months of cover commencing, increasing (other than the annual automatic sum insured increases) or being reinstated. A Terminal Illness Benefit is also not payable if the terminal illness is the result of a self-inflicted injury or illness by the life insured.
Absolutely. Once your application is accepted, you are covered 24/7, anywhere in the world.
Your premium is calculated each year on the policy anniversary and is based on your age at that time. Premium rates are not guaranteed. However you can never be singled out for an increase – any variation will apply to all Guardian Life Insurance Policyowners and you will be given 3 months notice of any change.
In most cases your premium will not be tax deductible and tax will not be payable on any benefit paid under your policy. This information is based on continuance of present tax laws and the insurer's interpretation of those laws. Your individual situation may differ and you should seek qualified professional advice in relation to your particular circumstances.
As long as you pay your premiums, you can keep your policy for life.
If you cancel your cover within the first 30 days of commencement – for any reason whatsoever – you'll receive a full refund of premiums that have been paid. As Guardian Life Insurance is not a savings plan, if you cancel your cover after 30 days, you will generally not get anything back. However, if you have paid annually in advance and cancel your policy after the 30 day cooling off period has expired any premium refund due will be paid into your nominated account.
As the Policyowner, you have the right to nominate up to 5 beneficiaries to receive benefits payable under your policy on your death. If no nomination is made all benefit payments are made to you, the Policyowner, or if the Policyowner dies, the Insurance benefit will be paid to the Policyowner's legal personal representative, or other person that the insurer is permitted to pay under the Life Insurance Act 1995. You can nominate a beneficiary or beneficiaries by simply downloading a Beneficiary Form, completing and mailing it to:
Guardian Insurance
PO Box 6728
Baulkham Hills NSW 2153