Despite the over-50s age group being more susceptible to COVID-19 complications, two thirds had no life cover during the pandemic, a recent report has revealed.
Just 33% of over-50s have been covered by a life insurance policy during the past 12 months; this is partly due to a lack of engagement, with a quarter (28%) saying they simply don’t want to think about end-of-life planning.
Another factor is a persistent belief in the myth that older people can’t get life insurance, with 18% believing this, while the cost involved prevents one in eight (13%) from taking out vital cover.
Life insurance is a policy that provides protection in the form of financial support should the unthinkable happen.
This type of policy can help give families money to live off, so your partner or children can continue to pay bills and living expenses.
It can offer this in a lump sum payment, which can help clear outstanding debts such as your mortgage, for example.
We can help you sort fact from fiction and think more positively about life insurance, enabling you to make informed decisions.
Find out more about life insurance.
As with all insurance policies, conditions and exclusions will apply.