ChatterBank0 min ago
Guaranteed Over 50S Life Insurance
I commented on TV ads for companies offering this insurance some time ago; I see that some are now showing the pay out amounts in small on screen lettering.
A 50 year old paying £5 a month will qualify for a £1,000 pay out – so if you decide to takeout one of these insurance plans as a 50 year old, you’ve got to die before you reach age 67 to win out on the deal. Given that most 50 year olds are likely to make it into their 80s, most will pay in twice the amount paid out. And don’t forget if for any reason you stop paying into the plan, you get nothing.
A 50 year old paying £5 a month will qualify for a £1,000 pay out – so if you decide to takeout one of these insurance plans as a 50 year old, you’ve got to die before you reach age 67 to win out on the deal. Given that most 50 year olds are likely to make it into their 80s, most will pay in twice the amount paid out. And don’t forget if for any reason you stop paying into the plan, you get nothing.
Answers
1 to 2 of 2
Best Answer
No best answer has yet been selected by Hymie. Once a best answer has been selected, it will be shown here.
For more on marking an answer as the "Best Answer", please visit our FAQ.
You've got a point about those over 50s life insurance plans. It's like playing the long game, but not necessarily a winning one. You're spot on that many folks will pay in more than they'll ever get out of it, especially with today's life expectancy.
In the meantime, I've been mulling over life insurance myself recently. It's one of those grown-up things, right? 😅 I've been checking out this option at https:/
1 to 2 of 2
