A Little Peace of Mind with Over 50 Life Cover

Engage Mutual offer over 50s life insurance for UK residents between the age of 50 to 80 years old, and they guarantee acceptance without a medical. An over 50 life cover policyholder can choose to pay monthly premiums ranging from £8 to £75 per month and the policy can pay out a one-off cash sum following the policyholder's death. The premiums will cease on the policyholder's 90th birthday but they will be covered for life. The policyholder could also pay in more to the policy in premiums than the amount eventually paid out following their death.

The cash lump sum could contribute towards the costs of a funeral, pay towards outstanding bills or at the loved one's discretion. However, the over 50s life cover plan is not a funeral plan as it may not cover the full costs of a funeral. Inflation will reduce the buying power of the lump sum over time.

If a person is diagnosed with a serious illness then they can claim up 20% of the benefit early. The remaining benefit would be reduced by 20%. Also, if the policyholder is diagnosed with a terminal illness and they can claim 100% of the life cover. In this case, the policy will then close and no payment will be made after their death.

To claim either the terminal illness benefit or the serious illness benefit, the policy must have been in place for at least two years. The serious illness and terminal illness benefits are only available on the new over 50s life cover plus.

Those interested in Engage Mutual's Over 50s life insurance can contact them today for more information.