Finding the Best Over 50 Life Insurance Options

Finding the Best Over 50 Life Insurance Options

Finding affordable life insurance can seem like a daunting task, especially if it has been left until the person to be insured reaches 50 years of age or more. Under normal circumstances, this is the age at which premiums start to get more expensive.

Fortunately, it is possible to find providers specialising in cover for individuals over the age of 50, usually without the need for medicals.

While these are typically a little costlier than policies taken out at a younger age, they do not have to be as expensive as consumers would first imagine. Naturally, policies will vary, depending on the provider – some will cover more than others, some will exclude certain conditions from cover and all of them will have different premiums.

To find the best over 50 life insurance policies, it is therefore necessary to carefully compare a selection of quotes from varying providers. Comparison sites make this an easy task by explaining different options and providing the opportunity to obtain relevant quotes from the most suitable providers for an individual’s requirements and circumstances.

In a similar manner, comparison sites offer help with income protection insurance. Illness, injuries or being made redundant can have serious effects on a family’s financial situation, and adequate income protection is necessary to cover for such circumstances.

Long-term policies will normally provide a monthly payment, usually of around 50 per cent of the insured person’s gross earnings in the event of them being unable to return to their usual job; or, as the case may be, if the insured is unable to perform simply daily tasks.

Short-term policies often provide lump sums to assist with bills, etc in the event of injury, illness or unemployment. Those that do pay out in monthly instalments generally only pay for a maximum period of two years.

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