Guides and Info

Life Insurance for Over 65s

over 65s life insurance

If you are over 65 and approaching retirement age or currently enjoying your hard earned retirement. Part of your planning for the future will include reviewing your financial outgoings. It is also a time when your thoughts might move towards the importance of Life Insurance to protect and provide for the future. Reviewing or taking out a new Life Insurance policy when you get older is something that can provide financial security and peace of mind. Helping you to feel more comfortable knowing that your family and loved ones will be looked after.

Not all over 65s need a Life Insurance protection policy. But as a financial safety net it can be useful and provide peace-of-mind in many different circumstances. The need for a protection policy will depend your individual situation.

Today’s Guide

Many people in their 60s have questions about the importance of Life Insurance for themselves and loved ones. In today’s guide, we take a look at some of the most common questions that many over 65s have including:

What Life Insurance Cover Is Available For Over 65-year-olds?

What Life Insurance Cover Is Available For Over 65-year-olds?

Life insurance protection for over 65-year-olds and those who are in older age groups are able to buy similar policies that people of all ages take out. All adults in the over 50s and above age brackets have a choice of a whole life or term life insurance protection. As with all Life Cover policies you can choose the level of protection you need. Including the monthly budget and the claim payment amount for your loved ones.

Many people who are aged over 65 choose a whole life insurance policy as a more viable option than a Term Based Life Insurance policy. One of the main reasons for choosing this option is because it does not require any medical information.

There is a large variety of Life Insurance policies available for the over 65s and the elderly to choose from. An over 65s Life Insurance policy are most often designed to cover:

  • Any Funeral costs.
  • Outstanding debts
  • Offset or help with inheritance tax payments on your estate.
  • Creating a legacy or a financial gift for family and loved ones

Do I Really Need Life Insurance At The Age Of Over 65?

Throughout our lives the need for adequate financial protection evolves as we take on more financial responsibilities. Because our circumstances change our need for Life Insurance also changes.

Many celebrated milestones including retirement or the last payment of a mortgage can mean that once you reach 65 it is likely you won’t have any large debts. This includes mortgages and any large loans, which are usually paid off prior to retirement. It is also quite likely that anyone who depends on you financially has moved out and started a family of their own. Therefore, a Life Insurance policy will not be required to cover these types of financial outgoings.

However there are still some expenses that you may need Life Insurance Cover for someone who is over 65 which may include:

  • Paying for funeral expenses
  • Any potential inheritance tax liability
  • Clear any outstanding debts, including credit cards and small loans
  • Provide financial stability for family and loved ones

By using and FCA regulated broker, like Life Insurance Cover who can search and find the best Over 65s Life Insurance. Will help you to find the best protection policy for you, offering peace of mind with an affordable policy. Helping you to protect today and provide for the future.

How Much Does Over 65s Life Insurance Cost?

All Life Insurance policies are created based on the information provided by each individual. Therefore the cost of Life Insurance policy will depend on a number of different factors including:

  • Age
  • General health and wellbeing
  • Lifestyle choices
  • Occupation (if you’re still working)
  • How much policy benefit you choose

Because each policy is created to match the individual who is seeking a protection policy. The monthly premiums and benefit amount (the amount you wish to leave to loved ones) is calculated on your individual circumstances and budget.

When it comes to searching and finding the right protection policy for you and your loved ones. It is important to search and compare Life Insurance policies. By doing a lot of research from all of the different providers might be a little confusing and overwhelming to find the best protection available.

However, by utilising an FCA regulated broker to do the hard work, you can be reassured that they can find the best policy within your budget. Allowing you to focus on more important things during your retirement.

If you are interested in taking out an Over 65s Life Insurance policy with the help of an FCA regulated broker. Life Insurance Cover can help you through the process and find the best policy for your individual circumstances. Our specialist advisors can also answer all your questions and help you choose the best protection policy for seniors over 65.

Where Can I Buy An Over 65s Life Insurance Policy?

Where Can I Buy An Over 65s Life Insurance Policy?

Many over 65s life insurance protection policies are available through a wide variety of providers. Including insurers, banks, tv adverts and even most supermarkets. However, even though any of these options might make a particular over 65s Life Insurance policy look appealing. It always makes sense to compare Life Insurance policies and weigh up the different options.

By using an FCA regulated broker, like Life Insurance Cover who can compare the market of Life Cover providers for you. By obtaining quotes from all of the providers listed above and many others through a broker. You can be reassured that you can find the most competitive Life Insurance quotes available. Providing you with realistic quotes that you can compare and choose. This will mean that you can be confident that you are making the right decision and buying the right cover for you and your family.

Can I Buy An Over 65s Life Cover Policy Without A Medical Exam?

The simple answer is Yes, because there are so many different Life Insurance policies available from many different providers. Many protection polices for over 65-year-olds in the UK do not require a medical examination. However, it is very important to compare the different policy options available to you and your family. Although some policy types do offer a no medical requirement, it is important to ensure that a protection policy will make a claim payment in the circumstances you need.

With all long term protection the costs can vary widely between policy types and providers and are entirely reliant on your individual situation and requirements.

Who Has The Best Senior Life Insurance Policy?

Who Has The Best Senior Life Insurance Policy?

As with many different items including most financial products, there is not a one size fits all solution. However, each protection policy is created as an individual best protection solution for your circumstances. The reason each individual policy is different is because each customer is not exactly the same. Because each person has a unique background and individual circumstances, including what they need a policy to protect. Each Over 65s Life Insurance policy is created to best match the financial requirements per person.

Finding the best over 65s Life Insurance protection policy might be easy for some, if you are confident and have the time and patience to do your own research and compare all of the different policies. However, many people choose to use an FCA regulated broker to obtain the best Senior Life Insurance available. By using an expert FCA regulated broker will make sure that you find the right Life Insurance Cover for when you’re over 65.

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Protect Today And Provide For The Future

If you are interested in reviewing your current policies or buying a new over 65s life insurance policy to ensure that you are protected for the future. Our experienced team of expert advisors are here to help you through any questions that you may have. By choosing to use an FCA regulated broker to search and compare Life Insurance policies for you. Will provide peace of mind for the future for you and your family.

Our team are looking forward to answering any questions and give you a very clear idea of how much Life Insurance might cost you based on your exact requirements. Feel free to visit our dedicated guide section for further information about all of the different options available. By protecting today and providing for the future, will mean that you can relax in the knowledge that you are providing a safety net for your family and loved ones.