Have you thought about how your family will get by when you pass away? How will they pay for your final expenses? What will they do when it comes to paying off outstanding debts such as a mortgage or loan? As we get older, these are the thoughts we have most often when thinking about the future.
A life insurance policy is a great way to take comfort in knowing how your loved ones will take care of final expenses when you pass away and can no longer provide for them.
Many older individuals believe they cannot get comprehensive, affordable coverage because of their age or medical history. Luckily, this is far from the truth and companies like AXA have developed life insurance plans specifically for this specific group of policy seekers.
Better yet, Genesage has developed a close working relationship with AXA – this means policy seekers are able to explore all the features of this plan and get the best possible benefits and coverage that will fit into any family’s budget.
Benefits of AXA’s Over 50 Life Insurance Plan
AXA offers policy seekers a simple, affordable way to provide financial assistance for their loved ones when they pass away. Funds from this life insurance plan can be used to aid in paying costly burial expenses as well as use for outstanding debts such as mortgages, credit card debts, and personal loans.
One of the great features of AXA’s Over 50 Life Insurance is that premium payments start as low as £4 a month and the application process for this plan does not include any medical exams or health questions.
AXA Offers Guaranteed Acceptance with the Over 50 Life Insurance Plan
Policy seekers between the ages of 50 and 80 who hold permanent residence in the United Kingdom are offered guaranteed acceptance with AXA’s Over 50 Life Insurance Plan without having to require any medical exams or asking any health questions.
Policy holders can also choose their monthly payment amount, which can range from £4 a month to £74 a month depending on coverage choices. AXA also offers to pay policy holder’s first month’s premium and guarantees that coverage will never decrease and payments will never increase over the life of the policy.
Cash Sum Payouts with AXA’s Over 50 Life Insurance Plan
AXA offers a guaranteed cash sum payout and these funds will be granted to beneficiaries as long as the policy has been held and paid on time for a minimum of two full years. If the policy holder were to pass away within that two year period, however, AXA will refund the amount paid into the policy in premium payments.
Additionally, if the policy holder were to pass away from an accident at any time, the full amount of the policy will be paid to beneficiaries to help cover any and all final expenses.
AXA’s Over 50 Life Insurance Plan Also Offers a Funeral Benefit Option
Like many over 50 life insurance plans, AXA offers a Funeral Benefit Option to further help spouses and loved ones cover the costs of burial expenses. This option will provide Golden Charter with a set amount of funds to be used toward the policy holder’s funeral expenses.
Additionally, Golden Charter will contribute £250 toward any final costs as a thank you for allowing them to conduct the services. Applying for this benefit on an application is as simple as checking the “Funeral Benefit” box.
When considering the care of loved ones after you pass away, planning ahead with a life insurance policy is a great way to help put you and your families minds at ease. AXA’s Over 50 Life Insurance Plan is a great option for those individuals who are concerned about coverage options and affordable payments.
Genesage can help policy seekers explore this plans many great options and also assist in getting applicants the best coverage features to meet their financial needs.