Over 50s life cover from Engage Mutual is available to UK residents aged from 50 to 80 years of age, with acceptance guaranteed without a medical. The plan can provide loved ones with a cash lump sum after the policyholder has passed away. After holding the policy for at least 2 years there is the now the flexibility to claim all of the over 50s life cover payout if you are diagnosed as being terminally ill and the flexibility to claim 20% of the over 50s life cover payout if you are diagnosed as being seriously ill.
If the terminal illness benefit hasn’t been claimed then the lump sum is payable upon the policyholder’s death. The payout could be used to pay towards the costs of a funeral, although this is not a funeral plan and may not pay for a funeral in its entirety. Alternatively, the policyholder’s loved ones may decide to use this cash lump sum to pay off any outstanding bills or debts, or purchase something to remember the policyholder by. It should be noted that the buying power of any lump sum paid out will be reduced over time by inflation.
The premiums paid into the Engage Mutual over 50 life insurance plan start from just £8 per month up to £75 per month. Once a plan has been taken out the premiums remain fixed and do not go up over time. When the Engage Mutual over 50s life cover plan holder reaches the age of 90, premiums cease but the cover continues. The plan has no cash-in value at any time. It is possible to pay more in premiums than the amount eventually paid out.
The Article is written by engagemutual.com/products/over-50s-life-cover/detail providing over 50 insurance and over 50 life cover. Visit www.engagemutual.com/products/over-50s-life-cover/detail for more information on engagemutual.com/products/over-50s-life-cover/detail Products & Services
