"We’ve already seen a very positive response to our new cover, and as IPTF members we look forward to working with the team to further raise awareness of income protection, educate consumers and help to remove barriers, to get more people the protection they need."
- Jacqui Gillies, marketing & proposition director at Guardian Financial Services
In March, Guardian Financial Services launched its first income protection proposition offering cover for ‘own job’, not ‘own occupation’ – a distinction that the firm says will give clients more certainty of a payout if needed. The product will also offer higher cover amounts – with cover for up to 65% of annual earnings up to £60,000 - alongside two-year and full-term payment periods, with a variety of deferred periods as well as the option to add children's critical illness protection to standalone income protection.
READ MORE: Guardian to launch income protection cover
In April, CIExpert announced that its Insights Zone will now include income protection and that Guardian would debut its new product. Alan Lakey, director at CIExpert, said that he’d seen an “increased demand from insurers to illustrate the merits of their income protection policies, so when Guardian approached us as part of their product launch we decided to bring forward our plans.”
READ MORE: CIExpert debuts Guardian’s new Income Protection product in major strategic move
Today, the Income Protection Taskforce (IPTF) announced that Guardian has joined its ranks as of the 1st July. Jacqui Gillies, marketing & proposition director at Guardian, has said that the insurer is "delighted to join the IPTF and contribute to the efforts being made across the industry to increase awareness of this very valuable product." She believes that "income protection plays an important role in helping people increase their financial resilience, both as part of a menu recommendation and on a stand-alone basis."
"We’ve already seen a very positive response to our new cover, and as IPTF members we look forward to working with the team to further raise awareness of income protection, educate consumers and help to remove barriers, to get more people the protection they need," she concluded.
Commenting on its membership, Jo Miller, co-chair of the IPTF, has said:
“We’re thrilled to further expand the IPTF membership to include Guardian following their entry into the market earlier this year. IPTF strives to represent as much of the market as possible and we’re excited to include them in future plans.
“The IP market has a good momentum now that we need to build on and having another provider on board to help us to achieve that can only be a good thing. We have great respect for the process that Guardian has been through to develop an income protection proposition, providing more choice for distributors and advisers.”
