Over 60s Life Insurance | Over 60s Life Cover
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Article submitted on 17th March 2008
Over 60s Life Insurance | Life Insurance Over 60
In the UK today there are many people applying for life insurance well into their 60s. These days 60 isn't classed as being old, and many people aged 60 and over still have liabilities that need financial protection. Even without liabilities, many people like to have life insurance in place for funeral costs.
What Types of Life Insurance is available Over 60
Firstly you would choose either term insurance or whole life insurance. Term insurance is the most popular due to the lower cost; it enables you to provide financial protection for a fixed number of years. Whole life insurance is far more expensive but does provide open-ended cover.
After choosing term or whole life cover, you must choose from the following types of cover:
- Level Cover
- Increasing Cover
- Decreasing Cover *Term only
Level Life Cover
This policy is paid on death and the sum assured remains the same throughout the policy.
Increasing Life Cover
Increasing policies usually increase inline with inflation each year. This type of policy can be beneficial if you intend to insure for a long period, helping to offset the effects of inflation.
Decreasing Term Insurance
With decreasing cover, the value of the policy decreases each year. This type of cover is mainly used to cover loans and mortgages and can only be taken on a term basis.
In order to get an instant quote for our over 60 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 60 Life Insurance free on 0808 1782 777.
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Previous insurance article from Top Quote UK :
Term Assurance
