As you start to look at the cover you have in place for significant life events, the options available as your age increases begins to dwindle.
Looking at Life Insurance cover as an example, AA Life Insurance (provided by Legal and General) offers a simple way to help you to financially protect your family should you die during the term of the policy. Although you have to be between the ages of 18 and 77 when the policy it taken, you can keep this in place up until your 90th birthday.
If you are looking for a combined Life and Critical Illness policy however, the age restriction changes slightly and you must be between 18 and 67 before the start of the policy and it must end before your 70th birthday.
As an AA member you are entitled to a discount in premium and the policies can include:
- Cover from as little as £6 per month
- Options relating to the length of time you want the policy for and how much you need.
- Level term, the amount of cover stays the same during the policy term unless you choose to change the policy
- Can provide cover for an interest only mortgage
- Can provide cover for you and your partner
- Terminal illness cover for no additional premium
AA members also have access to a free legal advice line.
AA Life Insurance do offer two additional options which can be provided at an additional cost.
Critical Illness cover or Waiver of premium
- Waiver of premium is available at an extra cost, so if you are off work due to incapacity caused by illness or injury, after 26 weeks you won’t need to pay your monthly premiums.
- Critical illness cover can be added to your life insurance policy, at the outset, for an additional cost. This covers critical illness conditions that could affect your life and work
The above information has been sourced from http://www.theaa.com/life-insurance/life-cover
There are many options available for life and critical illness cover and the AA Life Insurance is just one of them, your financial adviser or specialist health insurance intermediary should be able to help you find the right policy for your needs. You can contact the insurance provider directly or speak to an independent adviser. The Medigest Business Directory can help you find a specialist in your area: https://www.medigest.uk/directory/