Thinking about what will happen to loved ones and spouses when you pass away may be an uncomfortable subject. But, putting a plan in place to guarantee these important people are cared for can also bring a great amount of relief for you and your loved ones.
Although older policy seekers may believe their options for life insurance are limited, there are a number of programs in place specifically for this age group. One of these programs is ASDA’s Over 50 Life Insurance.
Guaranteed Acceptance and Low Payments with ASDA Life Insurance Over 50s Plan
One of the biggest concerns older individuals have when it comes to applying for life insurance is if they will be accepted.
There are a number of insurance agencies that will deny applicants based on age or pre-existing medical conditions.
ASDA has taken these concerns into account and offers applicants guaranteed acceptance and coverage to policy seekers between the ages of 50 and 80 living in the United Kingdom.
This acceptance also includes no medical exam or health questions as well as premium payments that will not increase.
You Choose Coverage Level and Features….
ASDA allows applicants to choose their level of coverage as well as any additional features or benefits they would like added to their insurance plan. Once these choices are made, premium payments are determined – based on what options are selected, payments for this insurance coverage can begin as low as £5 a month.
ASDA provides coverage that ranges from a maximum £10,000 to a minimum £650 depending on how much coverage is desired and also give policy holders the option of choosing how their insurance plan will be paid out when they pass away.
These options include funds being given in a lump sum amount to beneficiaries or funds can be applied directly to funeral costs. There is also a Funeral Benefit option available through ASDA – depending on the amount of the payout put toward funeral costs, this benefit could provide an additional £1,000 toward burial expenses, only further lessening the burden on a spouse or loved one.
Additional Benefits from ASDA Life Insurance Over 50s Plan
ASDA also offers other specialized benefits with their Over 50 Life Insurance Plan. One of these benefits is the option to choose capped or uncapped payments – capped payments means that premium payments will stop when the amount paid into the plan equals the amount of coverage being provided. An uncapped plan, however, requires premium payments for up to 30 years without taking the amount of coverage into consideration.
Another great benefit that ASDA offers if that life insurance payouts will be honored as long as the policy has been in effect for at least one year – generally, life insurance payouts only occur if the policy has been in effect for two years or longer. Finally, ASDA offers their clients a £30 ASDA gift simply for purchasing a policy. This gift card can be used in any fashion as a thank you from ASDA for your business.
Thinking about how a spouse or loved one will get by once you have passed on can be extremely stressful and worrisome. By planning ahead and purchasing a life insurance policy, you can help ease your mind about the burdens family members may face when you are no longer around.
ASDA offers a comprehensive, affordable, and flexible coverage life insurance plan for individuals over 50 that may be the perfect fit for you and your family.