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Over 50s Life Insurance
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Over 50s Life Insurance

Several life insurance companies provide Over 50s Life Insurance so it would be prudent to consider shopping around for what you feel is the best package that fits in with your budget and meets your needs.

Not only should you consider the amount of life cover you are being provided with for the monthly cost but you should also digest the key features and benefits documentation relating to the Over 50s Life Insurance plan so that you are fully aware of the benefits and features.

There are many reasons why this type of life cover is taken out by someone. Perhaps to cover the expense of their funeral, leave some monies to a grandchild, to clear any debts or to make financial provision for their partner.

Somebody may submit an application for Over 50s Life Insurance if they are aged between 50 and 80 years. An excellent benefit with this type of life assurance is that you are guaranteed to be accepted for the cover as it does not matter should you suffer or have suffered from any existing medical conditions. You will be pleased to hear there are no health questions to answer on the proposal form.

You pay the premiums for a set period of time depending upon how old you are when you take out the policy. Having stopped paying the premiums you will be delighted to note that the Over 50s Life Insurance plan will still continue and pay out whenever you die.

However, if you die within either the first 12 or 24 months (different life insurance companies have different conditions) from natural causes the policy will just refund the premiums to your estate. If you died during this timescale as a result of an accident the full sum assured would pay out. After this initial period if you died due to an accident twice the sum assured would be paid out.

It is very easy to apply for Over 50s Life Insurance as the insurance company will only require your name, address, contact number, date of birth, male or female, smoking status and either how much you want to pay per month or the amount of life cover you require.

The premiums are usually paid by direct debit from your bank account on a date agreed with you.

The proposal form can quickly be completed online, over the telephone or by post.

It is often possible to have the policy started immediately.

The policy has no surrender value.


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