Over 50s Life Insurance | Over 50s Life Cover
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Article submitted on 4th Febuary 2008
Life Insurance for the Over 50s
Have you considered what will happen to your loved ones when you die? It is inevitable that it will happen to all of us at some point, but have you thought how your partner and/or children will pay the bills, arrange your funeral, pay off your liabilities and continue a reasonable standard of living. This is important to everyone who has a family but is often overlooked as you get older. Just because you're over 50 doesn't mean that you shouldn't have any Life Cover in place.
No Waiting Period
Unlike many Over 50s Life Policies, policies offered by Top Quote UK have no waiting period. This means once you're accepted, the policy can pay out from day 1 and you don't have to pay into it for 2-3 years first.
Tax Free Payout - Writing the Policy in Trust
Our Over 50s Life Insurance Policies will pay your loved ones a tax-free lump sum in the event of death. We can also offer to write your policy into trust for your loved ones, ensuring that the proceeds are kept outside of your estate. This will mean that the money reaches your loved ones without probate, with no inheritance tax and most importantly quickly. Writing your policy in trust will not cost you as we arrange this free of charge.
Guaranteed Premiums
When it comes to Life Insurance for the over 50s, it is vital that your premiums remain guaranteed throughout the life of your policy so that you know what is going to be paid for the future. Some companies may offer a ‘reviewable’ premium, this means that your premiums may go up in the later years on the policy. Obviously this can affect affordability of the policy and may mean that you have to cancel the policy before it ends. For this reason, Top Quote UK will only offer you guaranteed premiums for your over 50s Life Cover.
Over 50s Life Cover - Term or Whole of Life
There are two main over 50s Life Insurance policies offered by Top Quote UK: Term and Whole of Life. Over 50s Term Life Cover will run for a number of years whereas Whole of Life runs until death, no matter what age. Over 50s Term Life Insurance is usually much cheaper than whole of life because the risk is less, therefore if budget is of concern it would be more beneficial to take out a policy for a number of years and put some money into savings, than to pay an extremely high premium for a Whole of Life Policy. If you need advice or clarification it this, then please call one of our highly trained and experienced staff.
Here at Top Quote UK we specialise in finding Life Insurance for the over 50s and our qualified advisors are always on hand to help find you the cheapest and most comprehensive over 50s Life Insurance plan on the market.
In order to get an instant quote for our over 50 life insurance, please visit our Life Insurance Quote page, or please feel free to contact one of our friendly advisors for financial advice on Over 50 Life Insurance free on 0808 1782 777.
