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Over 50s Life Insurance: Financially Prepare your Family for Life Without You

• Written by Katie

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Today's article is a guest post from Shepherds Friendly, a provider of over 50s life insurance in the UK.

Save a Fixed Amount Every Month for Your Loved Ones

Growing older is a natural part of life, and everybody wants to make sure their family and loved ones are provided for once they’re gone. This is why taking out an over 50s life insurance plan will give you and your family peace of mind, knowing that after you die, any bills and funeral costs will be taken care of.

A recent study [1] found out that 42% of people with a mortgage have no life insurance in place.

With so few people signed up to a life insurance plan, and with the average funeral costing £3,757 [2], they may be creating a hole in their loved ones’ finances. Parents and grandparents have been strong and supportive figures in their children's and grandchildren’s lives, helping them prepare for the future at every opportunity. Taking steps now to avoiding leaving them in financial difficulty in the future is just another way of supporting your family.

We all know that we won’t be here forever, so the lump sum your loved ones would receive from your over 50s life insurance plan can be your way of continuing to look out for them once you’re gone.

Shepherds Friendly: Over 50s Life Insurance

Shepherds Friendly provides Over 50s Life Insurance, giving you the comfort that when you die, you’re leaving a fixed, tax-free cash lump sum for those you leave behind. A plan can be opened from just £10 a month, with the option of paying up to £50 a month. The more you pay in, the more your loved ones will receive.

Anyone aged 50 to 80 can start a plan and premiums are no longer payable after the plan has been in place for 30 years, or when you reach age 90, whichever comes first. You will never pay premiums past the age of 90, regardless of when you take out the plan. The policy provides cover for the whole of the policyholder’s life, and there are no medical questions, so acceptance is guaranteed. You can find more information on their website.

Shepherds Friendly is one of the UK’s oldest mutual societies, helping families and investors secure their future with ease for nearly 200 years. As a member, you will always be treated fairly and receive a high level of customer service.

Additional Advice from Lifeline24

Like over 50s life insurance, a Lifeline alarm can give you and your family peace of mind. Having an alarm in place means that you will always be able to call for assistance with just the touch of a button. For older people, especially those who live alone or are prone to falling, a Lifeline alarm system can give you the confidence and independence you need.

To find out more about the range of personal alarms on offer, click here or call our friendly team on 0800 999 0400. Alternatively, get in touch online with our handy contact form.

You can also order a Lifeline alarm online or over the phone at any time. All our alarms come with free next-working-day delivery and 24-hour support from our expert Response Team.

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