What You Need to Know About Life Insurance Over 55

Is over 50s life insurance worth it?

There is lots of debate nigh whether over 50s life insurance is worth information technology. If you've paid off the mortgage and your kids have left abode, practice you really demand to go encompass once you lot reach a certain historic period? In this guide, we'll await to carve up the fact from the fiction, and hopefully put your mind at residual. As nosotros'll explicate, in some circumstances over 50s life insurance is definitely worth because.

What is an over 50s life insurance plan?

Over 50s life insurance tin can be an affordable way to exit some coin for your loved ones when you're no longer around. This can be put towards anything from funeral costs and unpaid bills to a pocket-size gift for family unit.

With our Over 50s Fixed Life Insurance you choose a premium you tin afford to requite you a cash sum that meets your needs. Full encompass is payable after ane year, however if you pass away within the first yr, we will refund any premiums paid. If you die every bit a result of an blow then full cover volition exist paid. Yous can leave the cash sum as a souvenir and the coin can be put to advisable use.

When is over 50s life insurance worth it?

There are certain circumstances where getting over 50s life insurance is something you lot might want to consider. For example:

• Y'all desire to put some money towards your funeral costs.
• You want to contribute towards paying off outstanding debts when y'all pass abroad.
• You lot want to get out a small gift for your loved ones.
• Yous don't already have life insurance that covers you for the remainder of your life and this type of comprehend could benefit you.

If any of the above apply to you, taking out a policy could help you meet those needs.

Here'south some reasons to cull Legal & General

Over 50s Fixed Life Insurance

• Guaranteed acceptance if you're a UK resident aged l-eighty, with no medical required.
• Premiums from £5 per calendar month depending on age, that'due south £1.15 a week.
• Stock-still premiums  - they'll never go up and your comprehend won't go downward.
• Full cover afterwards just ane year - immediate encompass for accidental decease. T&C'south employ
• 100% of claims paid in total - most in 1 day.
• 5 Star Defaqto rated cover - the highest rating possible!
• Wellbeing Back up. Nosotros want to assist look after your wellbeing throughout the lifetime of your policy, that's why we've partnered with RedArc Assured Express whose registered nurses tin provide you with a wide range of wellbeing services. Find out more about Wellbeing Back up
• Peace of mind for you lot and your family. Read about our claimants positive claims experiences.

For the full terms and conditions and more information virtually our Over 50s Stock-still Life Insurance please read more.

Do I need over 50s life insurance or term life insurance?

If yous're over l years-old, you could decide to get what'south known as term life insurance, which would pay out a larger cash sum if you die during your policy term. You can use for our Life Insurance even in your 50s or 60s because it means yous could encompass a mortgage or other meaning assets to protect those who rely on you financially. Y'all tin have out Life Insurance up to the age of 77, though dissimilar with over 50s life insurance, we will consider your wellness and other personal information earlier deciding whether to offer you a policy. The policy must end earlier your 90th altogether and the minimum length of the policy is one year.

By comparison, over 50s life insurance is ofttimes highly-seasoned to people with an existing medical condition or previous wellness problems because acceptance is guaranteed without a medical. With our Over 50s Stock-still Life Insurance your embrace will continue for the rest of your lifeeven though y'all cease paying premiums at historic period 90.

If you're on a upkeep, over 50s life insurance tin assist go towards the costs of a funeral, and you may feel reassured to know that your family doesn't have to worry virtually some of these expenses at a difficult time. But remember that depending on how long you alive, total premiums paid may be greater than the cash sum payable on decease.

It's also important to know that life insurance is not a savings or investment product, and in that location is no cash value unless a valid merits is made. If you were end stay paying your premiums when due, your plan would exist cancelled and you wouldn't become anything back.

Over 50s life insurance – worth because?

Every life insurance applicant over 50 has unlike circumstances and needs, but if you're looking for a minor cash sum to leave your loved ones, and if getting life insurance without a medical is of import to yous, over 50s life insurance is something you lot could consider.

For the total terms and more data, read our policy booklet on our Over 50s Stock-still Life Insurance page.

What You Need to Know About Life Insurance Over 55

Source: https://www.legalandgeneral.com/insurance/over-50-life-insurance/guides/is-over-50s-life-insurance-worth-it/

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