Whatever you have planned for your retirement, it is very important to ensure that your family and those who are special to you are taken of should something happen to you, and you are no longer around to take care of them.
If you are thinking ahead, then you will know that it is never too soon to make plans for when you are no longer around and having some kind of life insurance plan can help with that by offering some financial protection.
Some people assume that life insurance cover when you are over 50 is actually expensive and complex, thus requiring a lot of work. However, this is really not the case.
These days you can get 50 and over life insurance very easily and usually there is no medical required at all. It is also very affordable.
50 and over Life Insurance choices…
In what is a very competitive market there are a number of products and life insurance policies that are on offer and they are not necessarily specifically aimed at you (like 50 and over life insurance for example). Therefore they can include things like whole of life insurance (which is a policy that will give you protection until you die).
50 and over Life Insurance: the basics
There are a wealth of companies offering 50 and over life insurance for people, that are designed just for you. If you utilise a comparison website to find one of those policies then you could end up up saving money and discover that it is easy to find cover, all in one place.
- Am I eligible? 50 and over Life Insurance plans usually require no medical history checks or questions. If you are over 50 then you will be able to sign-up for a plan.
- How much will I pay? The fee for 50 and over life insurance is fixed each month and continues for the duration of the policy. Therefore, you will know what you need to pay each month, with no uncertainties. However, once you reach a specific age (dependent on the insurer) then you will no longer pay anything, but will retain the benefits of the policy until you die.
50 and over Life Insurance – more details
It is vital to understand that dependent on how long you live you could end up paying more premiums than the plan will pay out. Additionally, your plan could be subject to inheritance tax (dependent on the size of your estate). These obviously will depend on your situation.
A 50 and over life insurance plan in terms of cost will vary depending on your gender and whether you smoke.
Having cover offers peace of mind for many people, who do not want to leave their children or their partner with a financial burden when they die.
If you are thinking of taking out 50 and over life insurance why not use our quote form and get a range of comparison quotes today?