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Everything you need to know about guaranteed insurability options

Everything you need to know about guaranteed insurability options

Guaranteed insurability options allow clients to increase their protection cover, following certain life events, without further underwriting. Whilst far from perfect, the GIO feature provides a valuable means of ensuring the policy can adapt to a change in the clients circumstances and the need for increased cover. Over the last few weeks we’ve covered GIOs across the full range of protection products and today bring those insights together in a single ‘everything you need to know’ roundup.

As an additional point, we would also take this opportunity at Protection Guru to highlight that we still believe there is work to do in improving the flexibility of products to adapt to a client’s changing circumstances. GIOs provide a useful means of increasing cover without further underwriting, but this is still mostly limited to a fairly small list of traditional life events and with a time constraint. As many consumers no longer follow a traditional path through life, it’s essential the products we offer properly reflect the changing needs and lifestyles of the people that need protecting.


As a product designed to provide long-term protection against the risk of ill health preventing the client from working, GIOs are especially useful on income protection policies. In this insight we examined the different options available across the IP market and how insurers compare. 

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life and critical illness guaranteed insurability options

With life and critical illness policies typically covering a mortgage debt or intended to leave a lump-sum to loved ones in the event of a claim, a change in the clients circumstances (such as re-mortgaging) can easily prompt the need to review and potentially increase cover. There are a number of differences in the options offered on life and critical illness cover, compared to IP as we examined in this insight. 

To read more click here


With rents rising at the fastest rate in a decade, the ability to increase protection cover is especially important for these clients. In recent years insurers have expanded their GIOs to include rental increases or moving from a rental to mortgaged property. In this insight we examined the options in more detail.

To read more click here

business protection guaranteed insurability options

When business circumstances change, Key Person and Shareholder Protection cover may need to be increased accordingly, otherwise there is a risk of being under-insured. Doing this through a GIO can be beneficial because it is less hassle than going through the underwriting process again and if the life insured’s health is worse than before, the plan will be priced on the previous health assessment. In this insight we looked in more detail at the GIO options applicable to business protection insurance. 

To read more click here 

About The Author


Rob Harvey supports Protection Guru in it’s detailed research & benchmarking of protection products and features. He works alongside the team in helping drive product innovation and improvements with insurers and engages with adviser firms in ensuring they have the right tools & resources at their disposal to deliver the best protection advise. Prior to joining Protection Guru Rob spent 9 years at protection specialists Drewberry, where he worked as an adviser, learning & development manager and finally head of health & protection. In his spare time and when not out enjoying the pubs & bars of Brighton, Rob collects vintage clothing, is an historic motor racing enthusiast and avid country walker.

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