Over 50s No Medical

What is Over 50 Life Insurance Cover with No Medical?

An Over 50 Life Insurance Cover plan is a ‘whole of life’ Insurance Plan, which provides Life Cover for people who are aged 50 and over. To be eligible for an over 50s life policy, you will need to be between the ages of 50 and 80 and be a UK resident. One of the main advantages of taking out an Over 50’s Life insurance plan with Contact Insurance is that you won’t be required to have a medical examination as you would do with other types of Life cover. This type of Life Insurance plan also has low cost premiums, which are guaranteed not to rise. This whole of Life Insurance plan will pay out on death, but has no cash in value at any time.

How Over 50 Life Insurance Cover works

As this type of cover is a whole of life policy, your Life Insurance cover is guaranteed to last for life providing you pay all the premiums due during the time of the policy. If you stop paying your premiums your cover will stop. However, at the age of 90 you will stop paying the premiums due, but you will remain covered for the rest of your life.

It is also important to remember that you may pay more in premiums than the plan would pay out on death; but this will depend on how long premiums are paid for. The premiums that you pay for this cover will be used to cover the cost of your life cover and expenses.

If you take out an Over 50s policy with Contact Insurance we can guarantee you won’t need a medical to be accepted provided you are aged between 50 and 80 and a UK resident.

There is a guaranteed tax-free cash lump sum payable on death. The tax-free lump sum that is paid will depend on the premium amount you choose. It is important to remember that the lump sum would also count as part of your estate and may be subject to inheritance tax.

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Life insurance calculator

Funeral Costs	£
Mortgage	£
Loans	£
Credit Card Balance	£
Total:	£ 0
Living Costs - Per Month	£
Your Partners Likely Income - Per Month	£
Annual Liability or Shortfall:	£ 0
How long would this liability last for - eg until your dependants are no longer financially reliant on you (Years).
Existing life insurance policies	£
Death in service	£
Endowments	£
Other savings or investments	£
Amount of life cover shortfall	£ 0

Decreasing Term Life Insurance

What type of cover are you looking for

Single or joint cover

Type of cover required? Select the type of insurance to suit your needs:

- Level Term Insurance will provide a fixed sum over the term of the policy. In the event of a claim being made the payout will be the amount insured.

- Decreasing Term Insurance is specifically designed to protect against a 'repayment' (capital/interest) mortgage, therefore the sum assured will reduce inline with your mortgage.

Benefit options Select the conditions that you would like the policy to pay out under.

- Life Cover Only pays out in the event of death within the term of the policy.

- Critical Illness Only pays out on diagnosis of a predefined illness. Insurers cover between 26 & 37 illnesses which are listed in each Insurers Key Features Document, shown on the next page.

- Life Insurance and Critical Illness will cover both eventualities & will normally pay out on the first event. Please ask us for more information.

Amount of cover Enter the amount of cover in GBP's (£'s) that you require

Term of policy (years) Enter the number of years you would like the policy to run for.

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App 1 Smoker or non-smoker For insurance purposes, you will be considered a smoker if you have smoked or used any nicotine replacement products in the last 12 months.

Applicant 2 Sex

App 2 Date of Birth

App 2 Smoker or non-smoker For insurance purposes, you will be considered a smoker if you have smoked or used any nicotine replacement products in the last 12 months.

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Applicant 2 personal details

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Long story short...

If you’re looking to cover your funeral costs or you simply just want to leave some money behind for any relatives – choosing an over 50 Life Insurance Cover plan is an ideal solution to eradicate any of these uncertainties, with monthly premiums from as little as £8!