Need Over 60s life insurance - Suggestions?

usignuolo

I am in my early sixties, my partner is in his late 50s. We have one son, grown up, who recently married and lives abroad. The mortgage is in my name and I have recently paid it off. I am semi retired, and have a modest occupational pension which I supplement with self employed earnings and a state pension. My partner is self employed, and fortunately, pretty busy and earns a reasonable income. Our joint income is probably around 45k plus I have some savings.

Our house has increased considerably in value over the years and even in the present climate is probably worth around 800,000. I took out critical life cover and life insurance on the original mortgage but the mortgage insurance was for quite a small amount at the time as was the mortgage.

We now want to take out term life insurance to provide a contribution towards the cost of inheritance tax for our son when we die. We are both in excellent health, have never smoked and have long lived parents (our fathers were around 80 when they died, my mother was 84 and my partner's mother was 91.) All our siblings are alive and well. However no one seems interested in providing us with cover.

So far it is proving impossible to get a quote for more than 5 years from main stream insurers. Our existing mortgage insurance was with an insurance company no longer in active business, so no use trying there.

Anyone know why or want to suggest where we might try?

dunstonh

However no one seems interested in providing us with cover.

There appears to be no underwriting reason.

So far it is proving impossible to get a quote for more than 5 years from main stream insurers.

It looks like you are only looking at distribution channels that dont hold full authorisation but only basic protection authorisation. Use a full authorised source, like an IFA.