Over 50s life cover is a kind of life cover policy for people age above 50s. It promises to pay out a cash lump sum to policy holder’s dependents when they die. It covers the big funeral costs and few other debts as well. In the past decade, there were 2.8 million Over 50s life policy sold out by UK’s insurers. There are a number of plans available in the market, but as your financial advisor FreePriceCompare urges all elderly to make sure that the payout will never be less than what you pay in ( as a monthly premium). Don’t choose the plan which makes it poor value for money if you live longer. In other means, the payout shouldn’t be decreased with your age. Aviva recently launched a new Over 50s life cover plan under that company stops collecting premiums after 30 years or on your 90th Birthday-whichever comes first. Its minimum payout is £2,350.
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