|
What is Over 50 Insurance?
It is a UK life insurance policy specially designed for people who are over the age of 50 and will pay out a lump sum of money upon the policy holders death.
Why do I need Over 50 insurance?
We cannot predict the future and you never know what could be waiting for you around the corner.
Should the unfortunate happen and you die, then your Over 50 Life Insurance policy will pay out a cash amount to those you leave behind which can help them to cope with the financial loss they may experience.
This money can be used to pay of any outstanding financial obligations you may leave behind such as your mortgage, loan, Finance agreements etc and can also be used to help sustain the quality of lifestyle experienced before your death.
Are there specific types of Over 50s Insurance?
Yes there is.
Your options are as follows:
Term Over 50 Insurance - Also known as ‘Fixed over 50 insurance’ this insurance policy continues for an agreed length of time in years known as ‘Term’. The value of the policy remains the same throughout the whole of its duration as well as the cost of your premiums.
Increasing Over 50 Insurance - This is where the actual value of your policy (the amount paid out should you make a claim) increases throughout its term. Your insurance provider will usually review your policy on a yearly basis to ensure its value stays inline with inflation.
Decreasing Over 50 Insurance - Opposite to Increasing Over 50 Life Cover, this UK life insurance policy decreases in value over time and usually linked to your mortgage as it value also decreases.
Funeral Over 50 Insurance - This is pretty much the same as term life insurance but you are usually just insured for enough to cover any funeral costs. Further details can be found by clicking the following link: Funeral life insurance
Will I need to take a medical when applying for over 50 insurance?
If we’re not the first site you’ve visited then we’re pretty sure you’ve already seen a few sites offering over 50s life insurance without a medical which can prove ill advised.
Whilst this is possible, it can prove quite costly and making a claim could be very difficult.
Insurance providers will not always require a medical and may just contact your GP to discuss your medical health but should they require a medical, this will be a quick and simple process arranged with your GP at a time to suit you and will not cost you a single penny.
This way, the insurance provider will have all the information they need and the chances of making a successful claim are more likely to succeed.
What if I have or have had medical problems?
First of all don’t worry. Just because you have or have suffered from a medical condition, this will not effect you obtaining over 50 insurance.
The insurance provider will asses your application and take into consideration the severity of your medical condition(s) and the effects this might have on your ongoing state of health.
What should I do now?
Simple, just click the button to fill in our quick, single page online quotation form for over 50 insurance and we will do the rest. We will compare quotes from the whole of the market to find you the most suitable policies at the best possible prices.
 |
|
