A guaranteed insurability option (GIO) may be included in your life insurance policy as an additional benefit.
It simply means that you’re able to increase the sum assured (pay out amount) of your policy, to suit a change in your circumstances.
Some reasons you may wish to increase your protection, using the guaranteed insurability option, include:
- Your mortgage has changed
- Your family has grown
- Your marital/civil partnership status has changed
- Your salary has increased
If you choose to use the guaranteed insurability option, then you can increase your cover without having to provide any further medical information.
Protect your family and home from just 20p-a-day, with life insurance arranged through Reassured.
We’ve many years of experience helping people from all walks of life, secure the cover they need at an affordable price.
We can also tell you which insurers include the guaranteed insurability option as standard in their policies.
Take advantage of our fee-free, FCA registered broker service today to compare quotes and save money on your life insurance.
This provides a hassle-free alternative to taking out a new policy, which would require new underwriting (and may result in higher premiums).
Ultimately, it’s important to ensure that your family are suitably protected now and, in the future, (when life throws us some curveballs).
This makes the guaranteed insurability option a benefit worth looking out for when searching for life cover.
If you’re looking to arrange protection for your family today, get in touch with our award-winning team who’ll be happy to help.