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Over 50's
There's no avoiding the fact that life insurance does increase with age. However, it is also a fact that people live longer these days. It's not uncommon to hear those of us who are lucky enough to have passed our half century claiming 'life begins at 50'. Here at Policy Library, we are passionate about making sure that the over 50's get a good deal and aren't just palmed off with excessive cover costs, based solely on being over 50. You don't need to pass a complex medical or even answer any difficult questions regarding your health, cover is always guaranteed.
Do I need it?
As we get older our priorities change. Even if we are fortunate enough to live another 50 years, we see death from a different angle. If you’re worried about your family having to pick up debts or expensive funeral costs, then a specialist over 50’s plan is probably a wise move for you.
There can also be some limitations which you should be aware of, including:
- Depending on how long you live, you could pay more in premiums than the cash sum paid out.
- Because the cash sum is fixed, inflation will reduce its buying power overtime.
- Over 50s Insurance Plans do not guarantee to meet the full cost of a funeral.
What type do I need?
The type of cover you need is reliant on your age and other financial commitments. Nobody knows how long they will live, so making sure you don’t take on more than you can afford for the rest of your life is key. Anyone between the ages of 50 and 80 are eligible to take out cover and although your premiums will stop when you reach 90, your cover will continue.
Still unsure? We're here to help
If you're still unsure about what over 50's cover is and whether you need it, please give us a call, or we'll call you. Just fill in our request a call back form, or head to our contact page - we're here to help.
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