Over 50 Life Insurance: Guaranteed Acceptance with No Medical

Life insurance is very important for individuals who are worried about leaving the family to pay for funeral costs or any outstanding debts that may be left upon their death. While it is in the back of most people's minds, it becomes a more prominent part of life the older a person gets. Over 50 Life Insurance is for older people who want to take out life insurance and their often isn't a requirement for a medical, in order to qualify. For whatever reason, if you need to learn more about this topic, then we have some things that we would like to share with you.

A few perks of this type of life insurance are:

The sum assured is fixed and won't decrease as the person gets older. Coverage won't be cancelled, as long as premiums are paid on time. The sum assured is available after 12 months in the first year only a refund of premiums paid is given. Cash value is built after the first year For the first 30 days, there is a money-back guarantee This coverage can be combined with other insurance policies

People over 50 may desire this type of life insurance to help pay for funeral costs. These can easily come to a total of around £2,000.

This financial assistance will not only cover the costs of a funeral, but also any outstanding credit card payments, loans, or medical bills. Putting the rest of the family in debt is something that concerns quite a few people, which is often what drives people to seek out life insurance in the first place.

Life insurance policies for older individuals will generally accept people between the ages of 50 to 75 years old. Some companies will also provide coverage for people past the age of 75. There is also usually a benefit period for a specific number of years. This means that benefits will be paid if death occurs from a cause that is considered non-accidental. After this limited time period has passed, benefits will be paid in full for any cause of death.