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Life insurance
Work, home, family: Organizing our lives is a full time occupation! And much of it depends on a regular income. But what if that income suddenly stops, either by natural cause or other circumstance. Could you and/or your loved ones continue to support your standard of living? And what about your children’s future - say, if they want to go to college? None of us like to worry too much about the future. At Guardian Group, we’ve made it our mission to look ahead, with you.
What’s insured?
A life insurance policy pays out a fixed sum when you die. This can be the amount you owe to a lender, for example, the mortgage on your house, or a car loan. You can also take out life cover if you own a business, to protect you from financial hardship in the event of an untimely death. Often, life insurance is taken out for the purpose of meeting the cost of the funeral.
Want to know exactly what’s covered under a life insurance policy, or would like to receive an offer for personalized Life Cover?
Which cover suits me?
Life cover is available in a number of different forms, providing solutions for individual needs. To decide which cover suits you best and which form to choose, carefully consider your circumstances and the reason(s) why you’re thinking of taking life cover.
Period of insurance
A life insurance policy with Guardian Group can be entered into for life. The insured sum is paid out when you die.
You can, however, also opt for term life. This form of life insurance pays out an insured benefit if you die before the policy maturity date.
Insured sum
You yourself determine the sum to be paid out when you die. This amount may stay the same, or may reduce over the term of the policy.
Additional risk cover
There are numerous examples of situations where paying the premium for your life insurance policy might be difficult. Disability for work, or unexpectedly losing your job, are some of the most common reasons. Make sure to get sound advice about your options.
Saving
Which additional cover should I consider?
Over the course of your life insurance policy, there may be times when you might find it difficult- or even impossible- to pay the premium, even for a certain period of time. An illness, perhaps long term, or disability for work come to mind. This is why Guardian Group enables you to take out additional cover, just so you won’t ever have to worry about meeting premium payments. Ask about our additional insurance products when you’re considering an insured savings plan [savings insurance policy]. We’ll gladly explain the options that are available to meet your individual needs and wishes.
Premium waiver with occupational disability
People become disabled for work, from one day to the next, - whether for a short time or longer- for any number of reasons. Depending on the extent of the disability, Guardian Group can take over your premium payment, either partly or fully, until your recover, or until policy maturity. For a small extra premium, you won’t have to worry about meeting premium payments if you become disabled for work.
Permanent disability pension
If you become permanently disabled, Guardian Group can provide a periodic income. A provision can be included in your savings policy that provides for this benefit. The amount of the premium will depend, among other things, on the pension you wish to receive in the event of a permanent invalidity. This form of cover is often opted for by business owners who do not have a separate occupational disability policy.
Additional accident insurance
To insure the risk of death due to an accident, additional cover is available that provides for a second, separate lump sum. The additional payment is effected, immediately upon the insured’s death.
Caretaker’s clause
If a parent or carer pays into a savings plan on behalf of a child, if the parent or carer dies, Guardian Group is able to take over the responsibility for the premium payments. The Caretaker’s Clause is an option if you wish to be certain of your child financial future, no matter what happens.