Guardian 'Payout Planner' explained

Last week we announced that alongside simplified definitions for critical illness cover (CIC) and terminal illness (for life), Guardian has created a portal called Protection Builder for advisers. Among facilities such as single question set underwriting, dual cover discounts and smart form, Guardian also revealed ‘Payout Planner' - the option for policyholders to nominate beneficiaries of a claim without the need for probate or a trust in place. In order to overcome obstacles created for policyholders by trusts - "less than 10% of customers end up with trusts," said Katya MacLean, pr...