You know what they say – life begins at 50. And it’s easy to see why.
You might be a little older, and maybe spot the occasional white hair, but you have experience and maturity that younger people could only dream of.
You have more assets and skills, a strong support network of friends that you’ve collected over the years, you value your time and won’t let others take it from you and you value and appreciate life more than ever.
Hitting this milestone might mean you have a few miles on the clock, but getting older is certainly a privilege denied to many, so making the most of it is certainly important.
This is why planning the next stage of your life is crucial and why many individuals who have never considered life insurance before, decide to buy over 50s life insurance. But why are so many over 50s choosing this stage in their life to search for over 50 life insurance quotes? In this post, we’ll explore some of the benefits of over 50s life cover and how it can have a positive impact on this new phase of your life, read on to find out more.
What’s the difference between life insurance and over 50s insurance?
Before we get into the benefits of this type of cover, it’s good to know the difference between a standard life insurance policy and over 50s insurance.
The key difference?
A standard life insurance policy can be taken out by someone aged 18-75 and will cover you for a specific period of time, such as 10 or even 20 years, once that period is over the policy and the cover finishes. An over 50 life insurance plan can be taken out from the age of 50 and will cover you at a fixed monthly premium until you die.
The benefits of over 50s life insurance
You don’t need to worry about your medical history
If you’ve been plagued by poor health throughout your life, or you’ve had health issues arising recently, you don’t need to worry about your medical history. With an over 50s life insurance plan, you’re guaranteed to be accepted and you won’t be faced with a barrage of intrusive medical questions, making it much easier and less stressful for you to get the coverage you need.
A guaranteed payout for those you leave behind
You may or may not be aware of the pitfalls of inheritance tax and the proverbial hoops loved ones have to jump through during the probate process. One of the main benefits of taking out an over 50s life insurance plan is that you can leave a guaranteed payout behind for your loved ones. The perfect way to ensure that they receive some financial benefit from your death and ultimately give you peace of mind.
Whether you choose to travel, enjoy time with loved ones, or even take that dream job working overseas, knowing you have a policy that works for you will ensure you enjoy this stage of your life to the full.
And finally – You’ll be covered for the rest of your life
Knowing that you have some protection and those you leave behind will also benefit, is enough to make any individual of a certain age consider an over 50s life cover policy. All you have to do is ensure you keep up with your monthly payments – it really is that simple.
So, why not consider an over 50s life insurance policy?
