Over 50 Life Insurance FAQs
Why consider Over 50 Life Insurance? Is it a necessity?
If you find yourself in the mid to later stages of life, you might have started to think about what you will leave behind for your loved ones. Over 50 Life Insurance through Co-op can help you tackle these thoughts, by paying a fixed monthly premium, you can ensure that your family receives a financial benefit when you pass away. This sum can assist in settling unpaid bills, covering funeral expenses, or simply serving as a thoughtful gift. Ultimately, it provides peace of mind and financial reassurance to your closest ones during a challenging period.
Can anyone take our over 50 life insurance?
Absolutely! Anyone between the ages of 50 and 80 can easily apply for Over 50 Life Insurance through Co-op. It is a straightforward and affordable way to leave financial support for your loved ones, with a quick and easy application process. There is no need to answer any medical questions or undergo medical tests. If you’re a UK resident aged 50-80, acceptance is guaranteed.
What are the costs involved?
Despite the current economic challenges, this policy offers affordable cover, with your price depending on your age and smoking status. Once enrolled, you can rest assured that your monthly payments are fixed as long as you don’t make any changes to your cover, and your coverage is constant. Full coverage is granted after just one year, with immediate accidental death cover, providing your family with support whilst facing the unforeseen (T&Cs apply).
How do I sign up?
It is very easy to get a quote for Over 50 Life Insurance from Co-op. It only takes two minutes on our website, or you can give our contact centre a call.
How quickly does the policy pay out?
Losing a loved one is a challenging experience, and Over 50 Life Insurance from Co-op aims to provide quick support. With 100% of claims paid, most within a day based on all Legal & General Over 50 Life Insurance, the policy offers a reliable source of assistance during difficult times.
Can the policy help cover funeral costs?
Yes, funeral expenses average £4450 in the UK, so many people use the policy payout towards helping with funeral costs.
What happens if my circumstances change?
Life is full of surprises, and at Co-op, we understand the importance of flexibility in navigating life’s twists and turns. That’s why Over 50 Life Insurance from Co-op is designed to adapt to your needs. If you’re struggling financially, you have the freedom to lower your premiums after the initial year (minimum premium applies). And even though your 90th birthday might seem a while off, it marks the day you stop paying premiums, but your coverage continues providing peace of mind.
