Smart Over 50s Life Insurance

A smart over 50’s life insurance policy can help your family pay off debts such as a mortgage or credit cards, or it can give them the money they need to maintain their current lifestyle after you die. Depending on your circumstances, you may also choose to use it to leave behind a legacy or to donate to a charity.

Many people take out life insurance as a safety net to cover any outstanding debts or expenses after their death. However, if you have no financial responsibilities and have enough money saved up for funeral costs, then you may not need a life insurance policy.

Smart Planning for the Future: A Guide to Over 50’s Life Insurance

Generally, the older you are when you take out life insurance, the higher your premiums will be. This is because your age and health are considered to be a greater risk for an insurer. If you smoke, are overweight or have any preexisting medical conditions, this will further increase your premiums.

Some companies offer policies specifically designed for the over 50s, which have benefits that aren’t available with a standard life insurance policy. These can include guaranteed acceptance, which means your application won’t be assessed by a medical exam, and fixed premiums, so your monthly payments will stay the same throughout the duration of the policy.

If you are considering life insurance, speak to a specialist adviser who can advise on the most suitable options for your situation. Alternatively, you can compare quotes on price comparison websites or directly with a provider.