Beneficiary nomination used on 68% of Guardian's life insurance policies

According to Swiss Re's report last year, Life claims: a beneficial direction, conducted in conjunction with Insuring Change, 17% of all new term policies were written in trust in 2022 and as a result, a ‘beneficiary gap' existed in roughly four in five single own life policies. Guardian detailed that in the absence of a named beneficiary,  death benefit proceeds will go through probate; because an unmarried partner has no legal entitlement to receive the pay out, it risks being directed to an unintended recipient. The provider said this has the potential to be an increasing problem u...