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Is an over 50s policy right for you?
Is an over 50s policy right for you? With an ever-increasing quality of life and rapid advancements in medicine, life expectancy is on the rise, and with this comes concerns about healthcare costs in later life. In fact, more and more people find themselves worrying about the financial issues related to old age, and how they and their families will cope. One cause of anxiety for many is the thought of burdening loved ones with expenses such as funeral costs after they have passed. One popular method of allaying these concerns is with an over 50s life insurance policy, which pays out a lump sum to your loved ones in the event of your death. But how do you know whether an over 50s plan is right for you? If you’re in good health then it...Over 50s cover – what you should be aware of
Over 50s cover – what you should be aware of There are few purchases in life you will make that are quite as important as life insurance. For your own peace of mind and the future financial security of your loved ones, it is essential you fully understand exactly what to expect from the cover you buy. Here is our essential guide to what you should be aware of when buying over 50s life cover. No cash-in value Over 50s policies have been designed to last for the entire duration of your life. In simple terms, this means that the only time an over 50s plan will pay out it is when you die. If you no longer choose to pay the insurance premiums and cancel the policy, you will not be reimbursed any of the money you have paid into the policy....The rise of the over 50s life policy
The rise of the over 50s life policy There are certain things in life we try our hardest not to think about. Our own mortality is certainly one. But at some point it is essential to face your fears, and seriously consider how you will protect the financial security of your loved ones once you are gone. When you come to realise the peace of mind that life insurance products can provide, it is essential to carefully consider which policies are right for you. So firstly, who needs life insurance cover? Life insurance is a product that makes a great deal of financial sense in a wide range of circumstances. You should seriously consider the protection provided by life cover if you have: * A partner whose standard of living would be at risk...The benefits of over 50s life cover
The benefits of over 50s life cover When considering the most suitable form of life cover for you, it seems there is a myriad of different policies to sift through, with each providing their own benefits to suit specific situations. Over 50s life cover policies are designed to take into account your maturing years, as well as the existence of health issues. Over 50s life insurance differs from conventional term policies, in that, whilst over 50s cover extends until you die, term policies only payout if you die within a predetermined period. Let’s have a look at some of the other benefits of over 50s cover not offered by term insurance: Acceptance without a medical One of the primary benefits of an over 50s policy not offered by ot...Save your property and more with mortgage protection insurance
Save your property and more with mortgage protection insurance Taking out a mortgage in itself is a scary enough prospect. Many people are not able to buy their first property until they are in their thirties, with rising house prices and the tightening of lenders’ belts making it increasingly difficult to secure a mortgage. But what happens if one of the household’s breadwinners dies? Will it be possible to maintain the mortgage repayments? The above scenario is the precise purpose of mortgage protection insurance (MPI), to protect the remaining partner and ensure they can continue to live in the home. The premise behind mortgage protection insurance is simple. A premium is paid from the time the mortgage draws down. Over the years t...