For older individuals looking for life insurance coverage, there are a huge number of options available – weeding through all of the offers can be confusing! Luckily, Sun Life has developed a comprehensive life insurance plan specifically suited for individuals in the golden years of their lives.
Here we will discuss the features and benefits of Sun Life’s Over 50 Life Insurance Plan and why this may be the perfect choice for your life insurance needs.
Features of Sun Life’s Over 50 Life Insurance
Sun Life’s Over 50 Life Insurance plan is an easy, affordable way for policy holders to leave a fixed cash sum for family and loved ones or funds to help offset expensive funeral costs. Coverage from Sun Life under this policy is guaranteed for any resident of the United Kingdom between the ages of 50 and 85.
Additionally, Sun Life can guarantee this coverage without requiring a medical exam, asking any health questions or needing information on your family’s medical history.
Sun Life also offers policy holder affordable premiums that are guaranteed to never increase and coverage that is guaranteed to never decrease. It is important to note, however, that because the cash sum is fixed, inflation may have a negative effect on its value.
Premiums are available between £4 and £74 a month, as long as the policy’s cash sum amount does not exceed £25,000. Better yet, policy holder’s first month’s premium is free! Not to mention, new policy holders will receive a welcome gift from Sun Life, which include an LED TV, Amazing Kindle, or £75 gift certificate.
A Guaranteed Cash Sum Payment
This plan provides a guaranteed fixed cash sum that will be paid out upon the policy holder’s passing as long as they have been paying premiums for at least two years. Premiums need to be paid for life – ceasing payment will void any and all life insurance coverage.
If the policy holder passes away within the first two years of owning the policy, Sun Life will honor their premium payments and pay out that amount. In the case of accidental death, the cash sum will be paid out any time and even three months after the accident if the policy holder should pass away due to accident injury.
Funeral Benefit Option through Sun Life’s Over 50 Life Insurance
This plan also offers a Funeral Benefit Option that is available to policy holders. This option allows the cash sum amount from the Over 50 Life Insurance policy to be paid directly to Golden Charter when the holder passes away.
As a thank you for allowing Golden Charter to handle your burial services, they will contribute an additional £250 toward funeral costs. This feature of the Over 50 Life Insurance plan is a great option when considering the rising costs of funeral and burial services.
Sun Life’s Over 50 Life Insurance plan offers many benefits to older individuals who are looking into obtaining life insurance coverage. Guaranteed acceptance, no medical exam, premiums that will not increase, and coverage that will not decrease paired with comprehensive Funeral Benefit options and a generous welcome gift from Sun Life makes this policy great option.
If you need more information on this policy or assistance making sure this policy is right for you, contact Claybrooke – their knowledgeable advisors can help you make the best life insurance decision for you and your family.