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OVER 50s Life Insurance in the UK
Over 50s Life Insurance is a form of insurance for an indefinite (lifetime) period, assigned to those between the ages of 50 and 80. As it does not require an examination of the insured’s health condition, it is a perfect solution for people experiencing medical problems.
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This policy helps to cover the costs of medical treatment and it is paid to the insured’s family after the death of the insured. Thus, it protects both the insured’s health and their family.
The policy contains a two-year insurance risk exclusion which signifies that the insurer will pay out a full indemnity if the policy lasts more than two years.
In the event of the insured’s death within the period of two years from the beginning of the policy, her/his loved ones will receive 150% of paid premiums, but if the insured loses her/his life as a result of an accident, the paid premiums will be fully reimbursed.
In the event that, after more than two years from the beginning of the policy, the insured is diagnosed with a serious illness (e.g. cancer or Alzheimer’s disease), or suffers from a serious personal injury (such as limb amputation, stroke, dementia, blindness, organ transplantation) as a result of an illness/ accident, the insurer will pay out 25% of the insurance sum (the amount at which you are insured) while the insured will still be protected by the policy.
The benefits arising from Over 50s Policy (Insurance):
- Financial protection of the insured’s health
- Financial protection of the insured’s close relatives
- Wide choice of insurers
- No need for unnecessary formalities
- High indemnity
- Life-long protection
- No medical examination requirement
- Affordable prices
- Fast payout
- Large scope of protection
If you wish to find out how much your premium would be, talk to our consultant. Our consultations are free, so do not hesitate and start protecting your and your family’s health today whilst you still have time- you are more than welcome to contact us!