Reduction to premiums for income protection policies from Guardian
Guardian Financial Services announced a significant reduction in premiums for its Income Protection policies on Friday. The decision, follows a thorough assessment of market dynamics and aims to ensure Guardian remains at the forefront of providing accessible and comprehensive insurance solutions. As a large part of what we advise our clients on, this update from Guardian is really fantastic news to hear. Here is a breakdown of the news coming from Guardian income protection policy guidelines.
Reductions To Premiums On Guardian Income Protection Policies
Heena Sandhu, Guardian’s Business Development Manager, highlighted the company’s commitment to continually evaluate pricing strategies to align with market trends. “We constantly evaluate the market for pricing opportunities to protect ourselves and to make sure we’re pricing competitively with the rest of the market. For that reason, we implemented a positive reprice on our Income Protection last night,” Sandhu stated.
What Are The Reductions?
Under this repricing initiative, Guardian has implemented a 10% reduction in premiums across all full-term and 2-year term Income Protection policies, with the exception of quotes featuring a deferred period of 4 weeks or an occupation class of 4 on 2-year term Income Protection.
Insurance Broker Reactions
Reacting to this development, Jade Pinkerton, our Senior Mortgage and Protection Advisor at Oportfolio, emphasised the positive impact of Guardian’s decision. “This is good news for everyone. Guardian is a great provider – but as always, people need independent help and advice to make sure that they secure the most suitable and competitive option for them,” Pinkerton remarked.
Pinkerton further stressed the importance of considering various factors beyond just cost when selecting an insurance provider. “With insurance, it is very important to not just base it wholly on cost. With some of the more basic contracts, you get what you pay for, so it will not compare to the better options in the market. Skimping on your insurance is bad news in any scenario,” Pinkerton cautioned.
Speak To A Income Protection Policies Specialist
At Oportfolio, our dedicated team of insurance advisors are ready to assist individuals and families to understand what it really means to have comprehensive insurance coverage. By offering personalised guidance, our advisors will ensure that clients make the right decisions that provide the best protection.
Whether it’s Income Protection, Life Insurance, or Critical Illness Cover, our advisors work tirelessly to assess client requirements, consider budgetary constraints, and explore the fine print of various insurance contracts to recommend the most suitable and comprehensive coverage options available.
In today’s uncertain world, safeguarding your financial future has never been more critical. Contact Oportfolio today to discover how our expert advisors can help you secure the peace of mind you deserve. We’re here to help you.
