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 will have continuous cover for life as long as you pay your premiums on time (some optional covers may expire), 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 have continuous cover for life, as long as you pay your premiums on time (some optional covers may expire). 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.
Domestic duties specifically include:
- cooking and preparing meals – meaning the ability to prepare meals using kitchen appliances;
- cleaning the home – meaning the ability to carry out the basic internal household chores using domestic equipment such as a vacuum and mop;
- washing clothes – meaning the ability to do the household’s laundry to a basic standard;
- shopping for groceries – meaning the ability to purchase general household grocery items;
- caring for Children – meaning the ability to care for and supervise Children (where applicable).
You will not be considered to be unable to carry out all normal domestic duties if you are able to perform any one of these duties.
To help ensure that your level of insurance cover keeps up with increases in the cost of living and your changing lifestyle, your Guardian Life Insurance benefit amount and all optional benefits (if applicable) is automatically increased on each policy anniversary by 5%, and premiums are adjusted accordingly. You can decline the automatic increase by calling us or writing to us. The automatic increases stop at the policy anniversary after you reach age 75.
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 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 (or other exclusions applied to your policy), 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.
Guardian Life Insurance has a stepped premium, meaning your premium is calculated each year on the policy anniversary based on the age of each life insured at that time. Other factors that may affect your premium include but are not limited to, the benefit amount for each life insured, the chosen plan, gender, and smoking status.
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.
You will have continuous cover for life, as long as you pay your premiums on time (some optional covers may expire).
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 option to nominate up to 5 beneficiaries to receive benefits payable under your Policy on your death. The option to nominate a beneficiary is subject to the conditions listed in the Product Disclosure Statement (PDS) and Nomination of Beneficiary Form.
If you choose not to nominate a beneficiary using the Nomination of Beneficiary Form or do not submit a valid nomination any benefit payable from your Policy will be settled in accordance with provisions outlined in your PDS and the Life Insurance Act 1995.
You can nominate a beneficiary or beneficiaries by calling us on 1300 709 560, or simply downloading a Nomination of Beneficiary Form, completing and mailing it to:
Guardian Insurance
Customer Support
REPLY PAID 6728
Baulkham Hills NSW 2153
(no stamp required)
Or
email: claims@guardianinsurance.com.au
fax: 1300 260 792