Guaranteed No Medical

These kind of over 50s life insurance policies are usually guaranteed to be accepted and will require no medical. Monthly premiums vary from £10.00 to £50.00 per month. The main factors that affect the premium are the policyholders age and whether or not you are a smoker. Once accepted the premiums are guaranteed never to rise. These kind of policies can be used to help pay funeral expenses. Other uses include leaving a lump sum amount to either a spouse or children.

Whole of Life Insurance

The main problem with the over 50s life insurance plans that have been looked at above is that they are not underwritten medically at the outset. This can be a good thing if you have medical or health problems, however if you have good health then you may be paying over the odds and may be better off with a whole of life insurance policy. The law of averages means that those are are medically sound will be paying higher premiums to subsidise those that have medical issues. As mentioned above an alternative to the guaranteed over 50s life insurance policy is the Whole of Life Insurance. With whole of life insurance the premiums will offer more cover for your monthly premium, however these will be harder to get accepted. It is best to have an initial chat to one of our adviser who will advise you on which is the more suitable options for you.