Over 50's
What is an over 50’s insurance plan?
This is a popular insurance that can help you leave a cash gift to loved ones & cover
funeral expenses that may be left when you pass away.
This insurance is for anyone aged 50 and over. Payments for this are usually paid on a regular monthly
basis, when you pass away a lump sum would be paid out to your beneficiary.
You can generally choose how much you would like to pay into the plan having the premiums as fixed
monthly instalments. If you are aged between 50 to 80 you are guaranteed to be accepted with no
medicals required. Policyholders must reside within the UK.
Cover can be arranged immediately for accidental death and payments will not increase over time.
This insurance can be relatively straight forward to setup however missing payments may risk your
cover lapsing and losing all the money you have paid in.
If you live beyond aged 90 generally insurers will offer free cover. This means once
you reach the age limit within the plan your premiums will stop but the cover
remains in place.
Having a financial adviser help you has a number of benefits especially when it
comes to ensuring that the people you care for are fully protected.
Insurance does not simply apply a monetary value to someone’s life, instead it
helps compensate for the inevitable financial consequences that accompany the
loss of life. Covering the costs of any outstanding debts and mortgages left
behind.
Importantly this lessens the financial burdens in the aftermath of an
unexpected death.
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