Life Insurance

Best life insurance for Over 59 Years Old

Written by Julia Anderson
7 OVER-59′ ‘FIXED PAYOUT’ INSURANCE PLANS ( for NON-SMOKER, AGED 65 Limit)


Min age Total sum paid on death if paying: £10/mth Total sum paid on death if paying: £30/mth Age you stop paying When will you be eligible for the full sum payout? Inflation-linked option? (1)
Legal & General 50 £1,860 £6,050 90 12mths before full sum is paid (2) No
Sainsbury’s 50 £1,805 £5,870 90 12mths before full sum is paid (2) Yes
Royal London* 50 £1,800 £5,830 90 12mths before full sum is paid (2) No
Asda (LV) 50 £1,730 £5,760 After 30 yrs 12mths before full sum is paid (2) No
Shepherds Friendly* 50 £1,720 £6,080 90 24mths before full sum is paid (5) No
SunLife (Axa) 49 £1,720 £5,440 You never stop paying (4) 24mths before full sum is paid (5) No
Aviva 50 £1,525 £5,330 After 30 yrs or 90th birthday (3) 12mths before full sum is paid (2) No

Getting Cheap Life Insurance Quotes Over 59 Years Old – An Introduction

Gone are the days of finding life insurance by running your fingers through the yellow pages. Now days, savvy shoppers looking for cheap life insurance over 59 years quotes browse the internet to find the best deal. Being prepared for the future with an insurance policy is what everyone should do, but because the price of insurance can be so steep, getting a decent but cheap life insurance policy is often thought difficult. But rest assured it is not impossible.

As previously mentioned, online insurance websites are the best places to find all of the information a person needs to make a wise choice in selecting cheap life insurance. Fast quotes are attainable in moments after filling out the required personal information. When searching, it is also possible to get multiple quotes from one website making it easy to compare life insurance quotes before making a decision.
Read Also: Best Life Insurance for 50 to 59 Years Old

There are basically two kinds of life insurance, term insurance and permanent insurance. Permanent provides death benefits along with an accumulation of savings, while term is just life insurance. Obviously, permanent will cost owners more because more is provided with the policy and term is more affordable for those buyer looking only to be insured in the case of death. Many people looking for cheap life insurance will go with the term insurance so at least their family and final expenses will be covered.

For the most part a term policy is available from one year to thirty year coverage. They are affordable not only because they offer only death benefits, but because they can be purchased for shorter periods of time regardless of the age of the individual. For example a sixty year old male can buy cheap over 59 life insurance even though his life expectancy is not as long as a thirty year old male. This way the older man can still provide for his family even at an older age. Cheap life insurance of this nature is an excellent idea.

Some basics of cheap life insurance, or any life insurance for that matter are the person being covered is called the ‘insured’, the company issuing the policy is the ‘insurer’, and the person or persons who will benefit from the policy at the time of death are the ‘beneficiaries.’ Most people with families make the children and spouse the beneficiaries so that they can continue to live in the manner they are most accustomed after the insured’s death. So, it makes sense to have some kind of cheap life insurance to cover the family.

One aspect of buying a cheap life insurance policy is that often times the company issuing the policy will require no health exam from the one seeking the cheap life insurance. Locating a good policy gets harder as a person ages because health risks increase and people are more likely to get sick. So, naturally cheap life insurance is easier to acquire for younger people.

Another reason finding cheap life insurance may be more difficult is when people enjoy high risk or dangerous hobbies, habits or jobs. Some bad habits like smoking for example increase the risk of getting sick and the insurance companies are less likely to offer a cheap insurance policy rate. Others who have dangerous hobbies like riding motorcycles or skydiving are too at risk and less likely to find a good rate than those people who do not take part in that kind of activity.

Some lifestyle tips to take into consideration to help find better rates and get the best cheap life insurance are to stop smoking, eat better and attain a healthy body weight. As stated before, insurance companies look at the habits of the insured and assess the policy rates accordingly. A person who does not take care of their health by smoking and remaining overweight are not a good risk and will have to pay more for insurance cheap or otherwise.

How to get your cheap life insurance quotes Over 59 Years

Getting cheap life insurance is not impossible now days because there are so many insurance companies doing business with lots of competition among the businesses themselves to get a person to buy. They’re always coming up with new kinds of policies to cover anything about a person that can be thought of. By doing research online and getting as many quotes for cheap life insurance, anyone can provide decent coverage for their family and insure they live a comfortable life in the event of the insured’s death.

About the author

Julia Anderson

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