Over 50s Life Cover
Over 50s Life Cover
If your health is a concern, over 50s life insurance can help, often skipping medical checks and requiring lower contributions.
What Is An Over 50s Insurance Policy?
What Is An Over 50s Insurance Policy?
It’s a life insurance plan tailored for individuals aged 50 to 80 (or 49 to 85 in certain instances) it aims to mitigate the financial stresses for your loved ones in the event of your passing.
By making monthly payments, the policy ensures that upon your death, a lump sum is provided. This sum can be utilised to address various financial needs such as mortgages, debts, outstanding bills, funeral expenses, or can serve as a gift to your beneficiaries.
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Why UKMC For Your Over 50s Policy?
Why UKMC For Your Over 50s Policy?
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Things To Consider
Things To Consider
Benefits
There typically aren't any medical questions when you’re taking out the policy.
If the payout is a gift, loved ones have the freedom to use it however they choose. Insurance companies do not inquire or place any restrictions on its use.
Fixed payouts and monthly instalments are excellent for planning. You decide what you can afford and know exactly what you will receive in return.
Considerations
If you stop paying the monthly premiums, your cover will be cancelled
Some causes of death aren’t covered so make sure to check the fine print
Policies may not pay out straight away, there can be long waiting periods before your family receives the lump sum of money.
as the sum insured is fixed, the value of the sum assured will be reduced in real terms by inflation (unless the plan includes indexation).
How To Apply
How To Apply
Contact An Adviser
We’ll listen and understand your circumstances, to help you and your loved ones feel protected if the worst was to happen.
Compare deals
We’ll search and compare insurance policies to find the most suitable deal for you. We’ll take you through the entire process and make sure you’re covered.
Sign on the dotted line
Once you’ve found the most suitable policy for you, you can sign on the dotted line and feel confident that you’re covered.
Frequently asked questions
Frequently asked questions
What is an over 50's insurance policy?
It’s a life insurance plan tailored for individuals aged 50 to 80 (or 49 to 85 in certain instances) it aims to mitigate the financial stresses for your loved ones in the event of your passing.
By making monthly payments, the policy ensures that upon your death, a lump sum is provided. This sum can be utilised to address various financial needs such as mortgages, debts, outstanding bills, funeral expenses, or can serve as a gift to your beneficiaries.
How does the cover work?
It’s important to understand that all policies designed for individuals over 50 fall under the category of whole-of-life policies. This guarantees a pay-out upon your death, regardless of when it occurs. Compared to other life insurance policies with term-based limitations, whole-of-life policies do not expire
Due to the assured pay-out, insurance providers can set premiums without asking details of your medical history. They mostly rely on your age and statistical data to calculate the premium amount.
Will I need any medical checks?
