Whats are the Pros & Cons of Over 50's Life Insurance?
Pros
- If you want to leave a cash sum to your family, or to pay for funeral cost when you have died, over 50's life cover could be right for you
- Guaranteed acceptance if you are a UK resident aged 50-80
Cons
- If you are under 60 the amount of cover you will get will be low
- If you die in the first 2 years of the plan you will not get a pay out
- The cash sum is fixed so inflation will affect its value over time
- The amount of cover offered could be lower than a whole of life insurance policy