The benefits of over 50s life cover

The benefits of over 50s life cover Over-50s

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 other life insurance products is the acceptance of pre-existing medical conditions. In over 50s life insurance, you can sign up for a policy without having to answer any medical queries or provide information about your medical background. This guaranteed acceptance makes an over 50s plan particularly popular amongst individuals with medical health issues.

Set premiums

It is simple to keep track of your payments in an over 50s life policy as they remain constant, and do not increase as you age. However, this benefit should be tempered by the fact that the payout will not rise either, remaining at the same level throughout the duration of the policy. This means inflation will actually reduce the value of the payout over time.

Cover funeral costs

Research has shown the average cost of a funeral in the UK and Ireland in 2012 was €3,200. Over 50s cover ensures you do not burden your loved ones with this expense, and instead leave them with a fixed cash sum to cover this cost and more. For a no obligation, free quotation, fill out the short form at the bottom of our Over 50s page and we’ll get back to you within 48 hours to discuss your options and advise you on the best way forward.

For more information contact easylifecover.ie or loCall 1890 917917