Over 50 life insurance is a way to be prepared. It allows you to provide help for your loved ones with things like funeral expenses or outstanding debts. Having that protection in place can mean peace of mind for you and your family.
Think of an over 50 life insurance policy as an agreement between you and an insurance company. Once you have an agreement, or policy in place, you pay a monthly premium to your insurance company. Should you pass away while insured under your policy, your life insurance company will pay a lump sum amount to whoever is legally entitled to it.
What’s the difference between over 50 life insurance and life insurance?
While regular life insurance is available for adults aged 18 and above. Over 50 life insurance is usually available for UK residents aged 50 to 80 but this can vary depending on the provider. The amount of cover available with an Over 50s Life Insurance policy from Cover Today is up to £22,000 depending on your age. Life insurance policies tend to provide cover for a certain period known as a term, whereas over 50 life insurance would cover you for the whole of your life if you continue to make monthly payments. The benefit amount from an over 50 life insurance policy could be used to help pay for final expenses, help pay off any outstanding debts or even leave behind a gift for loved ones.
Benefits of choosing Cover Today Over 50s Life Insurance
Choosing Cover Today for your over 50 life insurance means you are insured from day one. There’s no waiting period1, so once you've been accepted for cover and secured your policy, you'll have peace of mind knowing that your loved ones will have financial assistance when you’re gone.
We understand that when the time comes you want to know that your loved ones have support, that's why we aim to make our claims process both simple and straightforward.
- We’ve also partnered with the National Bereavement Service to help provide you and your loved ones with practical advice on what to do when you’ve experienced a bereavement. You can call them free on 0800 024 6185 Monday to Friday 9am-6pm and Saturday 10am-2pm (excluding bank holidays). Alternatively, visit the website which offers a wealth of information www.theNBS.org.
- You'll be glad to know as well that over 50 life insurance from Cover Today is what's known as whole of life insurance. That means that so long as you continue to make your monthly payments you'll have cover for the rest of your life, and you can relax knowing that support is always there for your family. You’ll also have 2x accidental death cover for the duration of your policy. Which means that if you pass away as a result of an accident at any stage while you are covered your loved ones will receive double the benefit amount.
- Another reason to choose Cover Today for your over 50 life insurance is that you’ll also be eligible for a £125 Gift Card2. You'll have a choice of either an M&S, Tesco, or Amazon.co.uk Gift Card. It’s our small way of saying thanks for choosing us.
- You, your partner and all of your children up to the age of 21 will also have access to free Health and Wellbeing Services3. With it, you’ll have access to a range of great services that can help you take steps to improve your overall health. Please note that the Health and Wellbeing Services are not part of your contract and may be withdrawn at any time.
- The Health and Wellbeing Services include things like virtual access to GP appointments, nutrition and diet guidance and even access to a virtual nurse champion (available 9:30am to 5:30pm on weekdays). Once you have purchased a policy, we’ll give you all you need to know about availing of this service in a handy leaflet.
- There's also a free Funeral Benefit Option that can be added to your policy, which gives a £300 contribution to the total cost of your funeral when the time comes.
- If you choose to get a Cover Today Over 50s Life Insurance policy, you’ll also get your own Will Kit worth £100 for free. This Will Kit offers you a simplified way for you to prepare your last wishes before you pass away.
What are the different types of over 50 life insurance?
At Cover Today, we offer two types of over 50 life insurance. One is known as a “level policy”, and the other is referred to as the “increasing benefit option”.
With a level policy, the amount you pay each month and the amount your policy will pay out stays the same throughout the duration of the policy. It could be a good option if you want to stick to a specific budget because you always know what payment you need to make. However, it doesn’t consider the possible effects of inflation. If you choose the increasing benefit option policy for your over 50 life insurance, both your premiums and payout will increase by a set percentage annually. With this type of policy, it’s important to consider both what you’re able to afford today and what you might be able to afford in the future.
How is Cover Today different?
Over 50 life insurance from Cover Today is designed for UK residents aged 50 to 80. The application is simple and straightforward, with just a few simple health questions. And with Cover Today, your cover begins from day one. In fact, compared to current market providers of Over 50s Life Insurance, only Cover Today offers immediate cover for death due to any cause1.
Contact us for answers to all your questions about over 50 life insurance
At Cover Today we understand that hearing information from a human voice can be a lot more reassuring than reading it on a computer. It is a lot more interactive and efficient, too. Our UK-based team of life insurance professionals can help you through the process of securing over 50 life insurance. They’ll answer any questions you might have and provide you with everything you need to know about securing Cover Today Over 50s Life Insurance.
And if you decide to take out cover with us, we can set things up in minutes. After all, there are no medicals or blood tests just a few straightforward health questions.
If you need clarity on the details or the benefits of taking out an Over 50 Life Insurance policy from Cover Today, we’d love to hear from you. Simply visit our Get a Quote page where you can arrange a call back once you have filled out a few details.