Guardian Life Insurance

Information verified correct on September 28th, 2016

Find No Hassle Insurance Solutions with Guardian

With Guardian Insurance, life insurance is uncomplicated and easy to get. Guardian offers a wide range of life insurance products, as well as other personal insurance products, that are transparent, flexible and easy to understand, offering financial protection for your loved ones and peace of mind for you. You can tailor your life insurance package by adding a variety of optional extras, such as cover for your children, serious illness, total and permanent disability and accidents. A range of life insurance policies are offered, with the standard Life Insurance Cover, Income Protection, Funeral Insurance and Accident Insurance, With substantial benefits built in every policy, you can be sure that Guardian has you covered at every stage of your life.

History of Guardian Life Insurance Company

Guardian Insurance is a trading name of Hollard Financial Services, which is part of Hollard Group, an international Insurance provider with over 6.5 million insurance customers throughout Australia, Africa, the US, the UK and South East Asia. Hollard has had a presence in Australia since 1999, with 300,000 current Australian customers and over 6.5 insurance customers worldwide.

Guardian Life Insurance is also backed by Hannover Re Group, the 3rd largest global life insurer. Hannover is the insurer of the Guardian products, and has maintained a Standard and Poor’s Insurer Financial Strength rating of AA-(Very Strong) for years. The life insurance business of Hannover has been operating in the Australian market since 1958, and is regulated by the Australian Prudential Authority (APRA).

The team of advisers that finder.com.au directs its enquiries to are not currently able to provide quotes for this provider. You may wish to consider our other primary providers instead.

Types of Cover that Guardian Offers

  • Life Insurance: Life Insurance provides a lump sum payment in the event of your death or terminal illness. With Guardian Insurance, you are able to apply for up to $1.5 million in coverage. Apart from basic cover, Guardian also offers a range of benefits so that you can tailor your insurance package to suit your needs and offer a greater peace of mind.
  • Income Protection: Income protection is designed to provide you with a supplement income of up to 75% of your original income if you become unable to work due to illness or injury. Guardian offers a monthly benefit of up to $10,000 to help cover the daily costs of life so you can focus on your recovery.
  • Accident Insurance: Accident Insurance pays a lump sum payment in the event of an accident, as defined by the insurance provider. Guardian provides up to $1,000,000 coverage to help secure your family’s financial future or to help you on the path to recovery if you experience an Accidental Serious Injury.
  • Funeral Insurance: Funeral insurance is designed to cover the cost of a funeral and final expenses in the event of your death. Guardian provides up to $15,000 in coverage, and an additional $30,000 (triple payout) if the death is recognised as an accident. There is guaranteed acceptance for applicants who are between the ages of 18 to 79.

Policy features and benefits

Explore each of Guardian’s life insurance policies and the benefits and options for each.

Guardian Life Insurance Benefits

  • Applications are accepted from Australian residents aged 18 to 64
  • Coverage of up to $1.5 million, depending on the age of the applicant
  • No medical examination or blood tests required
  • Single and joint coverage options are available
  • Guaranteed renewable for life
  • Benefit is paid for any cause other than suicide in the first 13 months of the coverage
  • Benefit is paid if you are diagnosed as terminally ill
  • While your claim is being assessed, you are entitled to $15,000 Advance Funeral Benefit
  • Choose to make either monthly or fortnightly premium payments
  • 30 day money back guarantee
Options
  • Children’s Insurance Option: A benefit amount from $20,000 up to $50,000 is paid if your child suffers a serious injury or illness such as meningitis, paralysis, and encephalitis. This benefit is also paid if the child suffers an accidental death. This option can help with extra costs such as medical expenses and school tuition.
  • Serious Illness Insurance Option: A benefit amount from $50,000 up to $250,000 is paid to you if you suffer from a serious illness, such as malignant cancer, stroke, heart attack or have coronary artery bypass surgery.
  • Total and Permanent Disability Insurance Option: A benefit amount from $50,000 up to $1,000,000 may be paid to you if, as a result of injury or illness you are unable to work, or you suffer the loss of limbs or sight, or due to loss of independent existence and you require care from an external party.
  • Accidental Death Insurance Option: A benefit amount from $50,000 up to $1,000,000 may be paid to your beneficiaries if you were to die as a result of an accident. This benefit will be paid in addition to the insurance benefit.

Guardian Income Protection Insurance

Benefits
  • Applications are accepted from working Australian residents aged 18 to 59
  • Coverage of up to $10,000 monthly income benefit subject to a maximum of 75% of your monthly pre-tax income.
  • You are able to choose your own benefit period, 6 months, 1 year, 2 years or 5 years.
  • You are able to choose your own waiting period, 30 or 90 days
  • The premiums that you pay for income protection are generally tax deductible
  • No medical examination or blood test is required in the application process
  • Choose to make either monthly or fortnightly premium payments
  • 30 day money back guarantee
Options
  • Rehabilitation Benefits: Pays an additional income benefit to contribute to the cost of rehabilitation programs that assist with your recovery from illness or injury, and to assist with costs associated with returning to work. This may include special equipment you need to reenter the workforce or workplace modification.
  • Homemaker Insurance: A benefit payment of up to $1,000 per month is made for up to 6 months, if the homemaker is unable to perform a minimum of three Domestic Duty Tasks due to illness or injury.
  • Children’s Insurance: A benefit amount from $20,000 up to $50,000 is paid if your child suffers a serious injury or illness such as meningitis, paralysis, and encephalitis. This benefit is also paid if the child suffers an accidental death. This option can help with extra costs such as medical expenses and school tuition.
  • Final Expenses Insurance: Provides a benefit amount of $50,000 payable upon your death to help your funeral and other final expenses.

Guardian Funeral Insurance

Benefits
  • The chosen benefit amount (from $3,000 up to $15,000) is paid in the event of your death by natural causes (after the first 12 months of the policy)
  • Triple benefit paid in the event of accidental death – a maximum of $45,000 (from day 1 of the policy)
  • Guaranteed acceptance for all Australian residents aged 18 to 79
  • No medical or health questions are required for application
  • There are single and family cover options available
  • Coverage for all dependent children until age 21
  • Choose to make either monthly or fortnightly premium payments
  • Premiums payments are stopped at age 90 and cover continues for life
  • 30 day money back guarantee
Options
  • Accidental Serious Injury Option: Australians residents under the age of 69 are able to add Accidental Serious Injury Insurance to their Funeral Expenses Insurance. This option pays a benefit equal to triple your life insurance benefit in the event of injuries such as Quadriplegia, Paraplegia, Blindness, Deafness and Total and Permanent Loss of Use of Two Limbs.

Guardian Accident Insurance

Benefits
  • Guaranteed acceptance for Australian residents aged 18 to 69
  • No blood tests or other medical tests are required for Guardian Life Insurance
  • Coverage ranges from $50,000 up to $1,000,000
  • The rate of premiums that you are required to pay does not increase as you get older
  • There are single and join coverage options available
  • Choose to make either monthly or fortnightly premium payments
  • 30 day money back guarantee
Options
  • Children’s Insurance Option: A benefit amount from $20,000 up to $50,000 is paid if your child suffers a serious injury or illness such as meningitis, paralysis, and encephalitis. This benefit is also paid if the child suffers an accidental death. This option can help with extra costs such as medical expenses and school tuition.

Frequently Asked Questions

Q. How does the Inflation Protection Benefit work?

  • You coverage level is increase automatically every year by 5% to ensure that your coverage keeps up with the increases in the cost of living and your changing lifestyle. The increases stop when you reach the age of 70.

Q. How does the Terminal Illness Benefit work?

  • Your life insurance benefit will be paid to you if you are diagnosed as Terminally ill, which means that you have less than 12 months to live. This benefit allows you to pay for any treatment and care that is required in your final days.

Q. Will my premium increase for Life Insurance?

  • Premium rates are not guaranteed, and will be recalculated every year based on your age at the time. Premium changes will be applied to all policyholders and you will not be singled out for premium changes.

Q. Can I decide who receives the benefit payment?

  • You have the right to nominate up to 5 beneficiaries to receive benefits payable in the event of your death. This can be done by completing a Beneficiary Form and sending it to Guardian Insurance.

Q. Can I change my level of cover when I need to?

  • Yes you are able to change your level of coverage however, each change will be subject to approval.

Q. If I am working part time will I be able to take out Income Protection?

  • Yes, however you will need to work at least 20 hours a week in a permanent paid position for at least 12 months.

Q. If I am self-employed will I be able to take out Income Protection?

  • Yes, provided you have been working in a self-employed capacity for at least 12 months.

Q. What happens if I get sick or injured while overseas?

  • Guardian provides 24 hours a day, 7 days a week, worldwide protection provided you remain an Australian resident.

Claiming Your Guardian Insurance Plans

Claims are eligible to be paid by Guardian Insurance as soon as a completed Claim Form is received together with the required supporting documents. Accidental Death Claims will be paid as soon as proof of Accidental Death is received.

Claiming Life, Funeral and Accident Insurance

Your beneficiary, family member or yourself should contact Guardian and let them know that you intend to lodge a claim. A Claims Booklet should then be sent to you, which will need to be filled out. You will also need to provide the following documents:

  • Proof of death
  • Proof of the age of the insured person
  • Proof of the claimants identity
  • Proof of your relationship to the insured person
  • Original insurance policy document and policy schedule
  • Direct Debit Authority (if you would like the benefit payment to be deposited into a bank account)

Claiming Income Protection Insurance

The insured person should contact Guardian Insurance and notify the intention to lodge an Income Protection claim. You should then receive a Claims Booklet from Guardian Insurance which you will need to complete and return. You will also need to provide the following documents:

  • Certificate of proof of identity
  • Direct Debit Authority (if you would like the benefit payment to be deposited into a bank account)
  • Original insurance policy document and policy schedule

Why a Quote?

Guardians association with insurance names Hannover and Hollard Group lets customers know that they are in safe hands. These corporations understand life insurance, and bring Australians quality insurance products backed by a wealth of knowledge and experience. With Guardian, products are uncomplicated, transparent and flexible. There are a range of options that you can apply for so that you can take out the insurance policy that suits your needs. At Guardian insurance, communication is straightforward, and consultants are professionals who understand customers and are there to assist in all circumstances.

Was this content helpful to you? No  Yes

Related Posts

Ask a Question

You are about to post a question on finder.com.au

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Disclaimer: At finder.com.au we provide factual information and general advice. Before you make any decision about a product read the Product Disclosure Statement and consider your own circumstances to decide whether it is appropriate for you.
Rates and fees mentioned in comments are correct at the time of publication.
By submitting this question you agree to the finder.com.au privacy policy, receive follow up emails related to finder.com.au and to create a user account where further replies to your questions will be sent.

Ask a question
feedback