Help re Life Insurance please

mardatha

I'm in one of those over 50 plans, and have just had a letter saying a new provider has taken over and did I know that I was only insured until I was 87. If I die at 88 then my family get nothing. I'm in shock lol because I didn't know. I'm in good health now but I do have a very serious condition (Addisons Disease) that makes getting new life insurance tricky. What are my options now? I'm on basic pension so can't afford a hefty monthly payment. What a worry

Weighty1

over 50's plans are whole of life plans, meaning it should cover for the whole of your life. Could it be that the plan becomes "paid up" at age 87 so that the cover continues but you simply don't need to pay any more premiums?

If not, you have a couple of options:

1) Keep the plan going and "hope" a claim is put in before age 88.
2) Replace the plan with an alternative

mardatha

Thanks Weighty1, that's what I thought too, that it would paid in full and cover continued. Going to phone them and moan