Over 50’s – Late Life Insurance Option
th Sep 2018 |
Late Life Cover is an alternative to traditional Over 50’s life insurance, which is just a one-person fixed price life assurance policy. Its big plus is that for a very affordable fixed price you can get your life cover in place from day one and if you’re under 75 and you can take out cover for a chosen fixed term up to age 91. To get you started, we will arrange for your first month’s cover absolutely free!
So, if you have no life insurance in place and are concerned about the cost of covering a funeral or leaving a nest egg of up to €50,000, you can apply without any automatic medical.
A 74-year-old non-smoker in good health could have €10,000 life cover up to their 91st birthday for as little as €35.00 pm, with no medical exam. That’s just €8.08 per week!
A 68-year old non-smoker in good health could have €30,000 life cover up to their 91st birthday for as little as €67.00 pm, with no medical exam. That’s just €15.46 per week!
The pluses of Late Life Cover
- Cover to age 91: You can choose to be covered right up to your 90th birthday.
- No automatic medical exam: We don’t ask you to take a medical unless necessitated by poor health, or certain chronic health issues.
- No Claim Waiting: Unlike traditional over 50’s life cover, there is no 2-year claim waiting period.
- Guaranteed lump sum: You choose the life cover amount (from €10,000 to €50,000).
- Guaranteed monthly payments: Your monthly payment will never increase.
- Free Cover: to get you started, we will arrange for your first month’s cover absolutely free.
- Claims: Advance payment of up to €10,000 to cover funeral costs exists ahead of probate.
Important features of Late Life Cover
- The plan is only available to residents of the Republic of Ireland.
- If you stop your monthly payments, you will not continue to be covered.
- Terminal Illness Cover applies once the plan starts.
- You must be under age 75 to apply.
- The minimum life cover amount is €10,000.
- The maximum life cover is €50,000 without the need for an automatic medical exam.
- Higher levels of life insurance are available but may require an automatic doctors report or a medical exam dependent on your age and regardless of reported health.
- Helping hand at claim stage.
Get a Late Life Insurance Quote
We hope you find this information useful, but should you need to speak with a Life Insurance specialist simply call: 01 845 0049
Ken O’Gorman – QFA
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