Have You Got Your Over-50S Life Cover?

[davebro]

Or do you think Promis Life, Sun Life, Royal London etc. etc. should go take a running jump?

That June bird looks so excited about her death benefit that she's about to wet herself!

[hereIam]

Lol that made me chuckle - can't stand that ad !

[hc4361]

I say they should take a running jump and I lose any respect I had for the famous people that appear in the ads. Yes, I do mean you, Michael Parkinson and Alan Titchmarsh

[Old_Geezer]

Why would I need life cover ? I'm still going to lose this life anyway. Of course, if they wanted to pay up-front now, might be worth considering.

[Hymie]

Apparently a large number of older citizens are taken in by the adverts.

Imagine for a moment I started an over 50’s life cover company; from the money paid in I would have the not inconsiderable expense of employing staff to operate the scheme – I would have to pay for TV adverts and the TV stars to appear in those adverts. I would also want to take a profit from my company. Once all that money has been paid out, what is left could be paid as a death benefit to the mugs in the scheme. Obviously for most, the money paid out will have to be less than that paid in, otherwise I’d be operating some philanthropic operation.

Of course if you are in poor health and not expected to live long, such scheme might be beneficial to your heirs, provided that you met any scheme conditions to guarantee a payout (such as paying in to the scheme for a minimum period).