Things to consider when planning a funeral
Nobody wants to think about their ‘last party’. But, as we get older, or buy a house, or even have children, our thoughts about mortality creep in and may lead us to think about making sure we plan our funeral, so our loved ones know what to do.
Marie Curie has some great suggestions to help you think about how you would like your final send-off to be.
You’ll no-doubt also begin to think about this how will all be paid for. You might have the money now, but as you move through to retirement, it is very common to see savings dwindle. One option is to consider is an over-50s life insurance policy.
What is over-50’s life insurance?
Over 50s Life Insurance is a type of life insurance for anyone aged over 50 (up to the age of 80), where you pay regular monthly payments and, when you die, it pays out a pre-agreed lump sum.
A big advantage of an over 50s policy is that it is ‘guaranteed acceptance’ which means you don’t have to answer any questions about your medical history or current health.
What do you need to know before setting up a policy?
Your age.If you are a smoker or not.And how much money you want your final pay out to be? As this will affect your monthly premium.How is this insurance policy best used? This is where you can use the questions you answered previously.
This type of policy can work well if you don’t want to talk about your personal medical circumstances, your BMI or your family health history. Everyone is accepted, the only thing you need to understand is that there can be a short qualification period before you could claim.
Gifts, best rates, offers?
Take a close look at rates, offers and gifts from insurers. Some of the big insurers in the market offer gift cards for joining, while some offer a really valuable online GP and prescription service – plus a second opinion service as an added benefit.
Things to be aware of:
You must ensure you keep up with your monthly premiums for your policy to continue. If you cancel your policy there is no cash in option available and you will not be covered. Make sure you get advice when looking at policies.
Top tips:
Talk to a qualified advisor – the A-Plan Life & Health team can help with this.Don’t be seduced by free vouchers and big name insurers – go for the best price and product features.Think about how much you can afford on a monthly basis – it has to be manageable.Look at all the insurers available – the most well-known brands don’t always have the best rates.
Talk to us to find out more: 0800 172 172 or use this form.
