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We all have seen TV celebrities endorsing compare life insurance policies, but do they really offer value for money. Now let’s just have a sneak peek on what is over 50 life insurance Once individuals have attained the age of 50 years there is usually some degree of health deterioration; and hence, a conventional life insurance policy may not be suitable for you. There is a solution in the form of Over 50 life insurance that provides you with guaranteed peace and harmony. Features of Life Insurance Over 50 Most of us think that these plans are sheer wastage of money. The cover provides insurance coverage on whole of life basis, which means the cover won’t cease after a stipulated time frame. It is an ideal cover if you want to cover your funeral expenses or gift some money to your loved ones. So, is Life Insurance over 50, a desirable cover? There are two main things that you need to know about this cover • The product won’t cover you in first two years and if you die in the initial period, you receive just the premium amount. • If you are healthy, it is almost sure that you will get much better cover as compare to brick and mortar type insurance policy. So is life insurance over 50 a bad idea to consider It is a dilemma that many persons face. Not necessary, it is not a bad idea to consider, especially if you are in a poor medical condition. No life insurance company will be able to provide you such type of cover. In latter case, none will ask you about your medical health or medical history. So, in a nutshell life insurance over 50 has its own share of advantages, but there is a big but to it… It covers you well; if you are in a proper medical condition. But before deciding upon any course of action, you need to explore other options like standard life insurance. Types of Insurance Policies that you need to consider Markets are flooded with host of life insurance policies; you need to consider your financial obligations and other things before taking such policy. Types of cover available for you Life Insurance- If your family is still dependant upon you or simply, you can say that you are sole bread winner of the family, then life insurance is a best way to alleviate yourself from family burden. In present times, there are many life insurance companies offering you different products to suit your requirement. With the benefits of tailored life insurance policy, you have an added advantage. Life insurance companies offer you policy ranging from $5.44 a week, and your beneficiaries will receive Lumpsum amount in the event of your death. It could range from $100,000 or $1.5 million, depending upon the amount you pay as a premium. Option 2- Funeral Life Insurance Policies Funeral cover is an ideal cover for you and your family members. Your premium can provide of $3000 and $15000, again depending upon the cover that you apply for. Cover is available after the immediate death of policyholder or after 12 months of the policy. Thus, if you are over 50, and you want to provide protection to your family, start exploring the options right now.
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