Over 50s life insurance, is a type of cover, that is age specific, usually with policies specifically designed for individuals and couples, who are aged between 50 and beyond.
These can include terminal and critical illness cover or solely payout when the policyholder passes. While insurers do not tend to involve extensive health questionnaires or testing. They can contact a minimum claims period.
Upon entering into the contract with the insurer, you usually agree to pay a monthly installment for the allotted time of the policy. If the worst was to happen, a lump sum or installments depending on the policy you chose would be paid out depending on the maturity of the policy.
This can be as cheap or costly as you require, considering both the monthly payments and that of the final payout which you may require to help protect your loved ones.
Some may consider 50 years of age to be too late to purchase a policy, though if you have a steady income stream or loved ones that depend on you then it may ease any stressors with you passing.
Get peace of mind for less today with this over 50s life insurance comparison engine. It will find cheap insurance from many of the top insurers and we will not compromise on quality. It compares the best and most reliable well known insurers to make sure you are comprehensively covered at an affordable rate.