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Over 50s Life Insurance

What is over 50s life insurance?

Over 50s life insurance, as the name suggests, is a life insurance policy specially designed to meet the unique needs of people aged 50 and over. It is sometimes referred to as ‘over 50s life cover’ or an ‘over 50s plan’.

You pay in a fixed, monthly premium and the policy will pay out a fixed, cash lump sum to your beneficiaries, on death. The pay out is often used to cover funeral costs or leave an inheritance.

50 is often the age when your mortgage is largely paid off, the children have left home and well-paid management jobs are secured. However, you may need life cover that reflects these changing circumstances.

Over 50s plan vs standard life insurance

Over 50s policies are a form of whole of life cover and are guaranteed to pay out when you die, (as long as you pay your premium). This is sometimes called ‘life assurance’ – as a pay out is assured at some point.

In contrast, a standard life insurance policy provides cover for a set period of time, (term). Although these policies tend to pay out much larger sums and are used to cover long-term family living costs and mortgages.

As you get older, especially if you have had medical problems, securing affordable life insurance, becomes much harder. There could also be restrictions on the length of the term an insurer is willing to protect you.

As a result, for many an over 50s plan, which does not require a medical and guarantees acceptance, is more suitable.

Over 50s life insurance

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The benefits of an over 50s plan:

Over 50s life insurance in summary:



Why use Reassured to compare over 50s life insurance?

Talk to our Reassured consultants on 0808 168 2025 and let us help you compare the best available over 50s life insurance quotes.

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