Over 50s life insurance
Growing old is part of life; we cannot halt it. As we grow older, we become more aware of how our loved ones may be left in financial trouble should the worst happen and a life insurance policy can go some way to helping relieve this worry. However, the older you are when you take out a life insurance policy, the more expensive it is likely to be. At Expedite Finance, we recognise this problem, and that’s why we look at your needs and evaluate which of the over 50s life insurance policies are best suited to your needs. We know that what is the right policy for one person may not be right for another, and we also understand – thanks to many years in the business – that finding the right policy can be a chore. We are here to help you get the best deal, so let’s talk a little more about what over 50s life insurance is and how it can help.
Why Over 50s Life Insurance?
As we said above, the older you are, the more expensive a life insurance policy will be. This can be alleviated by buying a policy that is especially aimed at those over 50 years of age, and there are also further benefits. For example, if you are within the required age range – usually between 50 and 80 – the insurer will not turn you down; you are guaranteed a policy, without awkward questions regards your health and other personal details. Furthermore, you will pay a fixed monthly fee, and you agree the amount to be paid out when you take out the policy.
One area that Expedite Finance recommend is looking at is the option of funeral costs; some policies can include an added option to pay for a funeral, which can be expensive. The added peace of mind of knowing that your funeral is paid for is something that should not be overlooked. Remember, also, that when you agree to your policy you agree to a final sum that will be paid to your beneficiary. It is essential that you consider this carefully, as the final amount will undoubtedly be affected by inflation.
For example, if you take out a policy that pays £25,000 right now, and you live for a further 30 years, the payment will be £25,000, which will be worth far less in three decades from now than it is currently. This is why some insurers offer what is known as increasing life insurance cover: with this, the final payment is reviewed yearly in line with inflation, and your premium also. If you are certain that you can keep up with the premiums then Expedite Finance can help you find such a deal, and it could be worthwhile.
Finding the right over 50s life insurance policy can be difficult, but with help from our team, we’ll try to make it as easy as possible for you. We’ll look at the cover available from our panel of insurers and carefully look at the options that are suitable for you. For further advice on over 50s life insurance cover, contact us right away and one of our friendly and helpful team will be more than happy to answer any questions you may have. Call 0800 2012 148.
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