What is Shepherds Friendly Guaranteed Over 50s Life Insurance?
This product is a plan designed to provide a cash lump sum for your loved ones on your death, which can be used towards the cost of your funeral or to help meet any outstanding costs. The plan provides “whole of life” assurance, meaning it does not have a defined term but provides cover until the time of your death.
Am I eligible?
You can take out a plan as long as you are aged between 50 and 80 and resident in the UK or Isle of Man. You will be accepted with no medical questions to answer, regardless of your health.
How could it help your family?
Your family will be provided a cash sum after you die, to help contribute towards funeral costs or to leave as a gift and the option to access bereavement services.
Why should I choose Shepherds Friendly Guaranteed Over 50s Life Assurance?
- Guaranteed acceptance, no questions asked- if you’re aged between 50 and 80 at the time of application and you live in the UK permanently your cover will be approved, and we won’t need to ask you any questions about your health or personal circumstances.
- A guaranteed cash lump sum that we'll never reduce- when you take out the plan you’ll be quoted a tax-free amount that your family will receive when they make a claim. We guarantee this amount will never be reduced, just as long as you continue to pay your monthly premiums as required.
- Affordable premiums- you can become insured for a small monthly amount, and you can choose a monthly premium that suits you. The higher the monthly premium you choose, the higher your level of cover will be.
- Fixed premiums for life- the premiums you pay each month will be fixed from the start of the plan, and will not be increased throughout the term of the plan. When you reach age 90 you will stop paying your premiums but you will remain fully covered.
- Flexibility to reduce your premiums- if you wish you can choose to reduce your monthly premiums at any time, as long as this remains within the minimum of £10 per month, and we would then reduce the amount of life cover to reflect this change. You can also decide to open more than one Over 50s Life Insurance Plan with us, just as long as the total amount of monthly premiums you pay does not exceed the maximum of £50 per month.
- Funeral benefit option - we work with Golden Charter Funeral Services, the largest independent funeral service provider in the UK, who will contribute an extra £300 on top of your cover when you choose to nominate them to take care of your funeral. You can opt in to the funeral benefit option at the time of your application. Unfortunately, Golden Charter funeral benefit option is not available for Isle of Man residents.
- Access to bereavement services - your Over 50s Life Insurance plan gives you access to the National Bereavement Service, a not for profit organisation that offers practical guidance to families going through a bereavement. We understand that when you lose someone who is close to you that it can be both traumatic and upsetting. Few of us realise how much practical work has to take place and at an already difficult time.
How do I buy a Guaranteed Over 50s Life Insurance?
Deciding to take out life insurance is a sensible decision, as with many types of insurance, it’s a good idea to compare life insurance quotes to ensure you find the right cover at the right price. ActiveQuote is one of the UK’s leading comparison sites, working in partnership with MoneySuperMarket, Confused.com, Gocompare and uSwitch, and getting your quotes with us takes less than two minutes!
By simply filling in our short online form, you will get free no obligation Over 50s Life Cover quote. As with many types of policy, the quotes will allow you to weigh up affordability of premiums with the level of cover provided.
If you have questions or need extra help, please call us on 0800 862 0949.
All information is correct as at 16.07.2020