Over 50s Life Insurance Plans
Over 50s Life Insurance Plans
You wait ages for the right Over 50s Life Insurance Plan...then three come along at once
Are you looking to cover your funeral costs or simply to leave some money behind for your relatives? Maybe you're concerned about the rising costs of funerals? Or maybe you've thought about buying life insurance before, but the timing wasn't right or you didn't want to take the first offer that came along. The good news is, we've developed not one but three Over 50s Life Insurance Plans so you can choose the plan that best suits your needs.
Everyone's different, so our Over 50s Plans are different too
1. The Fixed Plan - pays out a fixed benefit when you die with the certainty of fixed monthly premiums.
2. The Increasing Plan - watch your benefit grow when your premiums increase.
3. The Funeral Plan - aims to cover the costs of a traditional cremation funeral.
Important things you need to know about our plans
- Guaranteed acceptance for UK residents aged 50 to 80 and no medical or health assessment when you apply.
- You need to pay the premiums until you die. However, if you reach your 90th birthday, you stop paying premiums but the cover continues for the rest of your life.
- If you stop paying premiums when they are due then the plan will be cancelled and you will not get anything back.
- The plans have no cash-in value at any time.
- Depending on how long you live, the total premiums paid may be greater than the cash sum payable on death.
- For the Fixed Plan, inflation may over time reduce the value of the benefit we pay out.
- You can help make sure that the benefit reaches the people that you would like to protect by placing the plan in Trust.
- After two years we'll pay the benefit of your plan regardless of the cause of death.
- If you die within the first two years of your plan we will not pay the benefit but we will return all the premiums paid. However, if you die as the result of an accident, then the full benefit will be paid. Exclusions and limitations apply, please refer to the section 'what exactly does accidental death mean' in the Policy Summary PDF for details.
- You can take out more than one plan, as long as the total of all your monthly premiums added together is not more than £50 a month. This will include any existing Legal & General Over 50s plans you may have. However, you can only take out one Funeral Plan.
Get on board now and help those you leave behind
All three of our Over 50s Life Insurance Plans are designed to help ease the financial burden on your family when you die
Our Fixed and Increasing Plans can provide a cash sum (which we refer to as a benefit) when you die. This can be used towards your funeral expenses, unpaid bills or to leave a gift to your children or grandchildren.
Or you can choose to specifically cover your funeral costs, by taking out our Funeral Plan. Funeral costs are predicted to rise to over £3,200 by 2015*, so it's good to know you can do something now to help your family at an emotional time.The benefit from your Funeral Plan is paid directly to Dignity, a funeral service provider, to ensure the costs of a traditional cremation funeral are covered. If you would prefer a burial, this plan will pay a contribution towards these costs.
*Mintel 2007
