Over 50's Life Insurance Scheme Launch

April 20, 2011 - PRLog -- At Home Shield we have noticed a steady increase in the number of people aged over 50 looking for Life Insurance. The major problems on a normal life insurance policy are that they end at a specified time, normally age 75, and cover can often be declined due to medical history. To solve this problem we are now launching a Guaranteed Acceptance Plan for people aged over 50, so no matter what your medical history, we guarantee to be able to offer you cover for the whole of your life.

So how does this work?
Rather than taking all of your personal details into account when processing your policy (height, weight, medical history, etc) we only look at your age, gender, how much cover you would like and if you are a smoker or not. That’s it, nothing else, and we will offer you a guaranteed premium based on those factors. What’s more, the premiums will never increase as you get older, you will always pay the same price unless you decide to change your cover.

Why do I need life insurance?
For people aged over 50 there are several reasons, but the main one that always seems to come up is funeral expenses. With the average funeral now costing £3,903 (research by Braham 2010) the last thing anyone wants to do is leave this costly expense to their family.

How quickly can I be covered?
Immediately! As there are no medical checks to carry out, or research to be done, cover can be in force as soon as we have taken your details.

How much will it cost?
Premiums range from £8 to £50 per month, depending on your age, gender, how much cover you need and if you are a smoker. As an example cover for a 51 year old female, non smoker, would cost £10 per month for £4,324 worth of cover.

What is the tax situation?
All benefits paid out are free from income tax and capital gains tax but may be subject to inheritance tax unless your policy is written into trust. At Home Shield we are happy to write your policy into trust for you free of charge.

Are there any other benefits?
Yes. If you take out a policy through Home Shield Insurance you will receive £30 worth of gift vouchers of your choice as a thank you.

An Enthused Company Director Terry Keaney commented “We are very pleased, and excited, to be launching this product. We have always been proud of the policies and rates we have available and this product just strengthens what we have to offer.”

For more information please visit http://www.hsinsurance.co.uk/over50_insurance.html

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Home Shield Insurance are an independent UK based Insurance broker specialising in Life Insurance, Mortgage Payment Protection and Business Protection. We offer a Dedicated Adviser service to all of our clients and are proud to be unique.