Find over 55 Life Insurance
Times are hard and many people aged 55 or over are struggling to make ends meet. This means that savings and other assets won’t go as far as they once would have and buying over 55 life insurance is one way to secure the future of your family after you are gone.
Do I need over 55 life insurance?
There are lots of reasons why life insurance may be a good idea for you, even if you’ve never considered it before. You may want to retire early but can’t do so because you need to continue to save money for the future, or you may still have dependants at home.
Perhaps you’re worried about how your debt, death duties and funeral expenses will be paid for after you’re gone.
You could need to continue to support a spouse or pay off your mortgage and need funds to do so.
Whatever your reasons, buying over 55 life insurance can offer you real peace of mind because you will know that your family will be looked after if the worst happens.
Which type of over 55 life insurance should I choose?
The two main types of life insurance are term insurance and whole life insurance. Term insurance will insure you for a fixed term, so if you die after that date, you won’t be able to claim any money. However, this is normally the cheapest form of life insurance you can get.
Whole life insurance will cover you for the length of your life so you won’t need to worry about whether or not your family will be able to make a claim but this type of policy normally incurs higher premiums.
When you are aged 55 or over you can purchase specialist policies for older people and many of them will not require you to take a medical or reveal your medical history. However, as the insurance company you choose will have no idea of the likelihood of your death premiums are higher to compensate for this.
Where can I find over 55 life insurance?
If you want to ensure you find the best life insurance deals then it pays to be as informed as possible and get as many different quotes as you can. One of the quickest and easiest ways to do that is by using price comparison websites. Price comparison sites allow you to see several quotes from different companies at once so you can make a more informed choice about which policy is going to be right for your needs.