Over 50's Life Insurance - Mutuals
Although a few building societies sell over 50 life
insurance they sell it on behalf of other providers. But if you do want to buy
an over 50's life insurance directly from a mutual organisation the good news
is you can buy it directly from LV (Liverpool Victoria).
It’s never too late to plan for your future and take
out life insurance, but as you get older you may find it more difficult to get
the cover you want, particularly if you’re in poor health or have suffered a
serious illness. That’s why LV now offer the LV 50 Plus Plan, which guarantees to
accept you onto the policy as long as you are aged 50 to 80 and a UK resident.
Unlike traditional life assurance, you can get covered with the 50 Plus plan
regardless of any current health issues. You don't have to complete a lengthy
questionnaire or take a medical before you get cover from them.
Another over 50 plan offered by a number of building societies is The Legal & General Over 50s Life Insurance Plan that
offers three options which allows you to choose the plan that best suits your
needs.
The Fixed Plan – gives you the certainty of having
the benefit of a fixed cash sum paid out when you die. The premiums are
guaranteed to never go up once your plan starts. Inflation may, over time,
reduce the value of the benefit of your plan.
The Increasing Plan – gives you the benefit of a
cash sum paid out when you die. The benefit is designed to increase in line
with inflation. (Benefits and premiums
will be reviewed each year).
The Funeral Plan – for those who want to ensure that
the costs of their funeral are covered. The benefit of the Funeral Plan is that
when you die the costs of a traditional cremation funeral (or a contribution
towards the costs of a burial) are paid directly to Dignity, who will arrange
the funeral through their network of funeral directors. This plan benefit and
premium will also increase in the same way as the Increasing Plan.
Guaranteed acceptance with no medical or
health questions.
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