As we reach the older years of our lives, it becomes more and more important to start looking into life insurance policies. Life insurance is a great benefit to have when you pass away – this type of insurance can help ensure that loved ones are taken care of when you are no longer able to do it yourself.
Many people believe that purchasing life insurance over the age of 50 means higher premiums that may not be affordable. Luckily, Axa offers a life insurance plan specifically for older individuals, and its close relationship with Claybrooke Life Insurance means policy seekers will get the best possible coverage for their money.
Why is Axa’s Guaranteed Over 50 Plan Right for You?
There are many benefits that make Axa’s Over 50 Life Insurance plan a great choice for older policy seekers. This plan is an affordable, simple way to leave funds behind for spouses and loved ones when you pass away. Beneficiaries can use these funds to help pay any outstanding debts and even funeral costs.
Additionally, premiums for Guaranteed Over 50 Plan start as low as £4 a month, which is one of the lowest payments available for this coverage. Finally, policy seekers can relax knowing that the application process for this type of plan does not require asking any medical or health related questions.
Guaranteed Acceptance and Affordable Premiums through Axa’s Over 50 Life Insurance
For Axa’s Over 50 Life Plan, acceptance is guaranteed for individuals between the ages of 50 and 85 who live in the United Kingdom without having to ask any health questions or requiring information about your family’s medical history.
Policyholders can also choose their premium payments, which can range anywhere from £4 to £74 as long as the payout sum does not exceed £25,000. Axa also offers the first month’s premium free and promises to never increase your payments or decrease your coverage. It is important to know, however, that inflation may affect the cash sum’s value over time.
Payout Information For This Type Of Plan
Axa’s Over 50 Life Insurance plan provides a guaranteed cash sum payment that will be paid out as long as the policy is held for a minimum of two years and premiums are paid regularly. If premium payments were to stop, so will the policy holder’s coverage.
In the unfortunate event the policy holder were to pass away in the first two years of holding the policy, only the premiums that were paid into the policy will be paid out plus half as much again. Another payment scenario is if the policy holder were to pass away in an accident, or up to three months after the accident, as the policy will be paid out in full.
Funeral Benefit Option Available with Axa’s Over 50’s Life Plan
Axa also offers a Funeral Benefit Option with their Over 50 Life Insurance Plan in which the amount that is assured would be paid directly to Golden Charter when you pass away to cover any funeral costs. Additionally, Golden Charter will contribute an additional £250 toward any costs as a thank you for allowing them to conduct your funeral services.
Having this extra benefit will help lessen the burden on loved ones and spouses to pay for expensive funeral and burial services. Applying for this benefit is easy – simply check the box next to “Funeral Benefit” when submitting your application.
For older life insurance policy seekers, thinking about life after they have passed on and the impact it will have on their loved ones can be uncomfortable. But, planning ahead to can provide an enormous amount of relief for everyone, policy holders and loved ones alike.
Although many older individuals feel that their premiums will only be higher in the later years of their lives, Axa’s Over 50 Life Insurance Plan is a great, affordable option that many people do not expect. Better yet, Claybrooke Life Insurance’s close relationship with Axa will only increase the benefits for policy seekers.