Tag: Over

The over 50s Insurance Market


Article by Iwan Williams

More than most age groups, the over 50s should shop around for their home, car and travel insurance. Often they have been with the same insurer for many years and have simply accepted the renewal deal on offer. Many will have bought their home insurance from a bank or building society when taking out a mortgage and need to be aware that there are better deals and big savings to be had.

Over 50s Should Shop Around for Insurance

It is also important for customers to remember that cheaper premiums do not have to mean less cover. A leading specialist and over 50s insurer, advises over 50s consumers planning to shop around for home, motor or travel insurance to be careful when taking out policies. Cheaper premiums are worth having only if the quality of the cover is not compromised. It is advised customers check the level of cover on policies and ensure that policy limits are suitable for the individual.

Why Over 50s Should Pay Lower Insurance Premiums

There are a variety of reasons why over 50s should expect to pay lower premiums for insurance such as car insurance and home content insurance. Primarily, they tend to have a low risk profile, which means insurers are able to offer cover at lower prices. In addition, the over 50s tend to make fewer claims and are less creative when making a claim, submitting lower value claims than the under 50s. Further savings can be also be made by using a specialist insurer for the over 50s. In fact, research conducted by a leading UK insurer shows over 50s can typically save up to 35% on home and contents insurance by using a specialist insurer.

A specialist insurer, in addition to offering potential savings, will also be able to provide tailored products for the over 50s. Examples include covering a home whilst the occupants are away for extended periods, garden cover, and home help benefit.

These savings are still available for the over 65s, particularly if they use a over 50s insurance specialist. However, travel insurance can attract higher premiums for older people as any claims made tend to be of a higher value. Also, some companies will not provide travel insurance at all to the over 65s.

Again, it is best to talk to a specialist over 50s insurer as they negotiate exclusive rates and cover with a panel of insurers and will be able to offer insurance for the over 65s.

About the Author

To find more information on over 50s insurance please visit http://www.rias.co.uk

 

 

Even If You’re Over 50, Don’t Forget Your Insurance

Even If You’re Over 50, Don’t Forget Your Insurance

Article by Chelsi Woolz







Now, more than ever, insurance coverage is needed to protect yourself and your loved ones in case of an unfortunate accident. Insurance for people over 50 doesn’t end with life insurance. There are many other situations where it can be instrumental in keeping those golden years valuable.

Life insurance is what many people are thinking about. We want our spouses and children to be taken care of when we pass. In the past, the insurance game was such that life insurance was unavailable to pensioners, but now it is a simple matter to get a deferred term life insurance policy up to the age of 85.

Life and death are not the only matters of importance. Often, death is preceded by costly hospital or long-term care. Health insurance is needed to take care of these costs as they occur, because quite frankly sometimes a doctor knows what he’s doing and you end up living for ten to twenty more years in relative good health. You don’t want those years to be spent drowning in debt. Even if you already have a good health insurance policy, there may be holes in it. In such a case, a second, or gap insurance policy can help to close those gaps and provide true full coverage that includes all prescription medications.

Your car insurance should also not lapse. You have to be honest with yourself. Your senses are not going to be as sharp as they were when you were 20 years old. Accidents do happen and your vehicle should be protected at all times. You may not be planning a new car purchase, and if that is true, then your automobile must be covered for all situations and include rental car benefits in case of an accident.

Lastly, travel insurance for people over 50 is always a good idea. Many retired couples and singles alike spend some of their time travelling, seeing places they’ve always wanted to see and visiting far-away friends and relatives. Travel insurance makes sure that you are covered for medical emergencies even if you are in another country and it also protects your ticket investment should you have to cancel.

Insurance is important at all ages – please don’t let coverage lapse, thinking it doesn’t apply. Insurance can save you from embarrassment and protect your family. That’s really what’s important.




About the Author

People over 50 who are not working full-time should consider specialist insurance catering to their age group. Finding such policies for car insurance and travel insurance could make a real difference to your budget.

Find out more about the Pros and Cons of Over 50 Life Insurance


Article by Soul Patel

Life insurance is often a difficult matter to handle as it may bring you to think about the practicalities of your own death which is not easy for anybody. It is also a comforting thought that the lump sum of cash left behind can clear any debts you may have, left to a grandchild, or cover the expense of a funeral. Most of the UK insurance providers do not require a medical checkup and for those aged 50 or older the good news is that the process is somewhat easier because of over 50s life insurance. It is also quite easy to set up an over 50 life insurance policy with the entire process able to be completed within only a few days. In the case of death, there is a lump sum of cash paid out, and this sum is paid out irrespective of the age at which death occurs.

However, there are of course disadvantages to these insurance policies. The first to know is that the monthly premium cost of the contract is relatively high compared to that of a standard life insurance policy. The closer you are to 50 years old, the lower the insurance premium will be. There is also an initial period, usually of two years, in which the policy will not pay out if you die, instead the premium costs paid over this time are often refunded. Lastly, unlike a standard life insurance policy, the level of pay out on death is significantly lower and is typically around £8,000. Having said this, and as stated above, this is a guaranteed sum.

In the UK, over 50 life insurance is a strongly growing market where many providers running extensive advertising programs. As such, there are many great deals to be found, as the competition is high. Excellent incentives are offered by some providers which include a high payout travel insurance policy where you can be paid three times the usual lump sum if a travel accident results in your death. Find a scheme appropriate for you by making sure you compare the benefits of each policy.

If you’re over 50 in looking into life insurance options, look for over 50s life insurance with provisions that enable you to extend the length of the term of the policy if you’re still alive at the end of the initial term. You should also be aware of return-of-premium term policies, which enable you to get back premiums that you paid into the policy. You might pay more for these provisions but they are worth it.

Interested in Over 50s Life Insurance? Click here