There are alternative options available if you wish to provide financial assistance to your family in the event of your death.
Over 50s Life Cover
This is a simple way of leaving your loved ones some money when you die, as a gift or to help pay for your funeral.
The more you pay each month, the bigger the payout your family will receive.
There’s no savings or investment element to it, so the payments you make each month will tend to be low-cost.
You can take out the plan from the age of 50 up to 80. Unlike traditional life insurance policies, you won’t need to provide any medical details when you apply.
Cover is guaranteed and lasts as long as you live.
As there is no medical questionnaire, you can buy Over 50s Life Insurance even if you have been turned down for other types of life insurance. You may not be able to get quite as much cover, but you will still be able to provide a financial lifeline for your family in the event of your death.
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