Thinking ahead is probably the most caring thing you can do for those you care about. When individuals become 50 years old, most of them in a very short time start pondering on how they will make things easier for their family in terms of finance once they are no more. Sun Life Over 50s Life Insurance from Sun Life is a product specially made for this phase of life, a simple and safe solution.
Which Benefits Are Included in the Sun Life Over 50s Life Insurance?
In short, Sun Life is a company that issues a life insurance contract with the functioning that when the insured dies a selected amount of money will be paid to the heirs in cash. For the very first time, the plan is designed to cover people who are between 50 and 85 years old, and it is also free from any health-related questions.
Main Benefits of Choosing Sun Life Over 50s Plan
Guaranteed Acceptance – Any person within the age bracket 50–85, trying to get a new policy, will be automatically accepted without consideration of the applicant’s medical history.
- Fixed Monthly Premiums – The amount you pay as a premium remains constant all through the policy.
- Lifelong Cover – The cover is for life as long as the premiums are up to date.
- Funeral Contribution Option – The made a claim can be prearranged to direct the money to a funeral service.
- Trusted Insurer – Sun Life is a well-known and respected brand in the UK insurance market.
Why It Might Be a Positive Option
Numerous individuals over 50 values this policy, it being a good choice because of its straightforwardness, reasonable pricing, and the fact that it guarantees some financial assistance to the family. The money can facilitate the payment of:
- Death and memorial services
- Unpaid bills or small amounts of debt
- An inheritance for the kids or grandkids
Points to Keep in Mind
Some things that should be understood before a purchase are;
- The benefit is usually capped and might not be enough to cover a big financial requirement.
- In the event, you died sooner than expected, your beneficiaries will receive a death benefit. If on the contrary, you outlive the life expectancy, then you will have paid more in premiums than the policy will have paid out.
- Insurance protection is only available during the time that the policy payments are up to date.
Who Is This Insurance Best Suited For?
The Sun Life Over 50s Life Insurance is the ideal policy for those who:
- Desire to guarantee that the burial expenses will be taken care of.
- Avoid having to undergo health examinations.
- Intend to provide their relatives with a modest monetary legacy after they pass away.