An over 50s plan offers guaranteed acceptance to all UK residents aged 50-85 and requires no medical exam.
As a result, this cover is ideal for anyone within this age range who has experienced poor health.
With this type of policy your family would be assured a pay out after you're gone, (as long as you pay your premiums).
The pay out is usually between £3,000 - £25,000, but this varies depending on the insurer and is likely to be towards the lower end of the scale the closer you are to the upper age bracket.
At Reassured, we can arrange you up to £25,000 worth of cover.
A pay out is commonly used to cover a funeral, clear outstanding debts or provide an inheritance.
Premiums can stop at the age of 90 with some insurers, however, your cover would continue until you pass away.
A benefit offered through Reassured with many of our over 50s plans.
The waiting period, (before a claim can be made)
Whilst acceptance is guaranteed on an over 50s plan, insurers mitigate their risk by implementing a waiting period.
The waiting period starts at the beginning of the policy and lasts 12 or 24 months depending on the insurer.
It means if you were to pass away due to natural causes before this period has elapsed, no pay out would be made. (However, all premiums paid would be refunded).
To determine whether an over 50s plan is the best solution for you, simply get in touch.
Our team will provide you with all the information you need to make an informed decision.
Key benefit: Guaranteed acceptance for all UK residents aged 50-85 and no medical questions or exam on application.