Whatever your age, taking out life insurance should be considered to ensure that those you love are provided with financial aid when you die. This money can go towards helping pay mortgage costs so that your family aren’t left severely struggling to make ends meet, or can be put towards funeral expenses so that you don’t have to burden loved ones with money worries at a time of emotional distress. Though life insurance for those over 50 years old used to be difficult to find, many companies now offer wide ranging and competitive policies, such as Standard Life’s very own Over 50s Life Insurance.
One of the difficulties in obtaining life insurance when you’re a little older is that insurers will see you as having a higher risk of death. For this reason, specialised over 50s insurance has been created, providing people with guaranteed cover and payouts whenever they die. Standard Life Over 50s Life Insurance is one such policy that offers guaranteed payouts, and with no lengthy health questionnaires or forms to submit, taking out cover is very simple.
If you’re considering Over 50s Life Insurance, then one of the benefits that you can look forward to is having guaranteed acceptance onto a policy as long as you’re aged between 50 and 80 and are a permanent resident of Britain. You won’t need to complete medical surveys, and as long as you don’t pass away during the first year of the plan, then you can expect to get a guaranteed cash payout. The Standard Life Over 50s Life Insurance plan, therefore, offers you complete peace of mind that once you die, your family will be provided with enough money to pay for your funeral. Alternatively, you could leave the cash payout as a gift for your children or grandchildren.
Another important feature of the Standard Life Over 50s Life Insurance plan is that your premiums will remain the same throughout the policy’s term. Unlike other life insurance products, where premium prices can rise and fall, over 50s insurance enjoys static prices so that you always know exactly how much you have to pay each month. Once you reach 90 years old these payments stop, even though your policy will continue, allowing you to have a little more money in your pocket and the knowledge that you’re still covered by insurance.
Getting life insurance if you’re over 50 is far easier than you might think, and despite there being myths that multiple medical forms will be needed and that the process can take a lot of time, getting a competitive quote only takes a few moments. If you’re considering taking out Over 50s Life Insurance with Standard Life, then we can offer you a quote in minutes whilst also providing comparisons of other British insurers to help you make the right decision. And, if you want to ensure that your family are not left burdened with financial expenses when you die, taking out over 50s insurance with a guaranteed payout is the ideal solution.