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Am I Too Late?

mumpy
mumpy Posts: 12 Forumite
Part of the Furniture First Post Combo Breaker
in Pensions, annuities & retirement planning
Hi all, thanks for reading me ;)
Could anyone help me with regard to life insurance or a funeral plan for over 50s? I want one that will pay whether I die within two years or not. They all seem to not want to pay out if I kick the proverbial before 24 months is up :(
I'm a young 62 (today), don't smoke, don't drink, don't do drugs, so I'm a good girl-ish, I just eat - hence I am morbidly obese, but losing ;) :j
Would be very grateful for any help. Thank you. xxx

Comments

  • Brynsam
    Brynsam Posts: 3,643 Forumite
    Fifth Anniversary 1,000 Posts Name Dropper Combo Breaker
    Try the pre-paid funeral plan thread: https://forums.moneysavingexpert.com/discussion/5539475/prepaid-funeral-plans&page=5#topofpage
  • tacpot12
    tacpot12 Posts: 9,499 Forumite
    Tenth Anniversary 1,000 Posts Name Dropper
    Try an insurance broker. They will be able to find you what you need.
    The comments I post are my personal opinion. While I try to check everything is correct before posting, I can and do make mistakes, so always try to check official information sources before relying on my posts.
  • Brynsam
    Brynsam Posts: 3,643 Forumite
    Fifth Anniversary 1,000 Posts Name Dropper Combo Breaker
    tacpot12 wrote: »
    Try an insurance broker. They will be able to find you what you need.

    Likely to be quite expensive - and need full medical underwriting. Why the rush, OP, if you are in good nick?
  • mumpy
    mumpy Posts: 12 Forumite
    Part of the Furniture First Post Combo Breaker
    I've just been talking to Sun Life, who seem pretty good, and someone has just said one of the best in the field are British Seniors, so I'm going to look at them.

    Thanks so much for your help :)
  • dunstonh
    dunstonh Posts: 120,895 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    The over 50s plans are an option of last resort. Even a highly adjusted whole of assurance plan (due to weight) can offer better value than an over 50s plan.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • Mnd
    Mnd Posts: 1,699 Forumite
    1,000 Posts Fourth Anniversary Name Dropper
    Happy birthday!
    No.79 save £12k in 2020. Total end May £11610
    Annual target £24000
  • McKneff
    McKneff Posts: 38,857 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Buy a prepaid funeral, either cash or in insyallments.

    Coop do a basic one for less than 3k.
    Join as a member and you get a £150 discount
    make the most of it, we are only here for the weekend.
    and we will never, ever return.
  • badmemory
    badmemory Posts: 10,340 Forumite
    Ninth Anniversary 10,000 Posts Name Dropper
    Be careful. I looked at one of these "plans" out of curiosity. I think they have improved since, but this one at aged 70 the payments for 2.5 years were what the plan was due to pay out & if you stopped paying well tough luck. They are not being nice, if you don't need to give any medical info it is because they are insuring you on the assumption that it is bad.
  • westv
    westv Posts: 6,593 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    dunstonh wrote: »
    The over 50s plans are an option of last resort. Even a highly adjusted whole of assurance plan (due to weight) can offer better value than an over 50s plan.
    But the chance of a free pen should never be turned down.
  • atush
    atush Posts: 18,731 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Save into a S&S isa or pension instead.
This discussion has been closed.
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