It’s much easier to talk about covering food and energy bills and how they impact family finances than it is the sizeable expense of a funeral. However, such reluctance to confront the matter can cost a family thousands of pounds of needless expense. Funeral costs have almost doubled in a decade and they continue to rise quickly. Only by planning ahead and investing a small amount of money now can those thousands of pounds be kept in the family purse. There are two popular options which help cut the costs of funerals – a funeral plan and over 50s life insurance. Each product is based on forward thinking and prudence. Both are regularly used for funerals by families throughout the UK, but...
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The number of expatriates from around the world who reside in Asia is increasing. Since the continent accommodates great health facilities, tourist destinations and low cost of living which are excellent for moving in with your family and setting up a new life abroad. If you are over 50 and are scanning through life insurance for expats over 50s to protect yourself and your family, then here are the things you need to know and look out for when you are considering buying expat over 50s life insurance during your expat life overseas. What is expat over 50s life insurance? An expat over 50s life insurance is a life insurance policy that has benefits that are tailor-made to policyholders...
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Over 50's Plans Explained Do I need an Over 50s Life Insurance Plan? As everyone gets into their 50s, more often than not, priorities start to change and there may be more reasons to need Over 50s life cover. Many people are not aware that the average cost of a funeral can be as high as £5,899. With this in mind, it is essential to begin looking into Over 50s Life insurance to put your mind at rest in making sure that your loved ones won’t have to struggle with things such as funeral costs, should anything happen to you. Many also consider leaving something behind for their families so that they can live comfortably but find it difficult to do so. Surprisingly, as many as...
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Best Overall: Nationwide High customer satisfaction rating Few complaints for its size Offers no-medical-exam coverage Most policies include a trio of living benefits riders Based on our research, Nationwide is the best overall life insurance company for people over 50. The company received few customer complaints, according to the National Association of Insurance Commissioners (NAIC), has a good financial strength rating, and earned the second-highest J.D. Power rating for overall customer satisfaction among major insurance companies. Individuals over 50 can choose from a variety of different life insurance policies from Nationwide. You may qualify for a no-medical-exam policy depending...
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We'll help you find the best over 50's life insurance quotes An over 50’s life insurance policy is a very specific type of life insurance policy. It is similar to that of a ‘whole of life’ policy in that it does not automatically expire after a chosen term. So long as you maintain the monthly premiums, you will be able to make a claim on the policy at any age. With some providers you even cease to pay monthly premiums when you reach the age of 90, but remain fully covered above and beyond this age. There are a few major pro’s and con’s of this type of the policy which should be important to take note of. Even if you are aged over 50, an over 50’s life insurance policy may not actually be...
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Which type of life cover is best for someone The best life cover for someone over 50 should be explored with an adviser. In the first instance, depending on your medical history, you should consider a whole-of-life policy before an over 50s plan. The reasons for this are based on cost and value. With a fully underwritten whole of life plan, the sum assured will be payable immediately should you pass away. You wouldn’t have to wait one or two years of paying premiums before a payout would be guaranteed like an over 50s plan. A whole-of-life plan is also likely to provide a higher sum assured than an over 50s plan on a like-for-like premium. Meaning it is greater value for money. Are there...
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What our Nerds say about over 50s life insurance It may cost less when you’re younger, but don’t assume it’s too late to consider life insurance. Leaving money to your loved ones when you’re gone might be something you want to arrange a bit later in life. With over 50s life insurance, you choose a premium and your loved ones get a payout when you die, as long as you keep up with your payments. Just be aware that it’s possible to pay more in total premiums than the eventual payout, if you live a long life. Learn about over 50s life insurance What is over 50s life insurance? How does over 50s life insurance work? How much does over 50s life insurance cost? How much over 50s cover can I have?...
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Which type of life cover is best for someone The best life cover for someone over 50 should be explored with an adviser. In the first instance and depending on your medical history, you should consider a whole-of-life policy before an over 50s plan. The reasons for this are based on cost and value. With a fully underwritten whole of life plan, the sum assured will be payable immediately should you pass away. You wouldn’t have to wait one or two years of paying premiums before a payout would be guaranteed like an over 50s plan. A whole of life plan is also likely to provide a higher sum assured than an over 50s plan on a like-for-like premium. Meaning it is greater value for money. Are...
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Over 50s life insurance is a type of life cover you can take out between the ages of 50 and 80. It may seem harder to get life insurance as you get older, but there are still policies available that could give you peace of mind. An Over 50s life insurance plan pays out a guaranteed fixed lump sum when you die, helping your loved ones when you are not with them anymore. How does it work? It functions like any other sort of life insurance: you pay a monthly payment, and your insurer pays a lump sum to anyone you named on your policy when you die. The funds might be used for funeral expenses, debt repayment, or simply as a gift to your family and loved ones. Regardless of your age, most over...
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Many people choose to take out an over 50s life insurance policy in order to cover these costs, meaning that their loved ones will be able to give them a proper send off without suffering financially as a result. Should I buy over 50s life insurance? One of the more unique features of over 50s life insurance cover is that it is ‘guaranteed acceptance’. What does this mean? It means that anyone (over the age of 50, and under the age of 80) can purchase a policy, regardless of their health. Essentially, you don’t have to answer any questions about your health or lifestyle in order to qualify for cover. As a result, it is much quicker and simpler to purchase an over 50s plan compared to more...
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