Is over 50 life insurance with free gift worth it?
It’s always good to receive a welcome – at the very least, it shows that your presence is wanted.
When a business gives you that welcome, it not only shows that your custom is wanted and valued, but that there is a commitment to delivering the service for which you have paid and the reassurance that attentive customer service is guaranteed.
Many providers of over 50 life insurance express that welcome with a free gift, both as a welcome to the insurance plan and as a thank you for having paid at least one (or sometimes 3) of the monthly premium payments.
Are such gifts worth it? Or is it worth to check this out and get a life insurance policy, regardless if there is a gift or not?
With any free gift valued at between 30 and 75 (depending on the insurer and the value of the over 50 life insurance plan you agreed), that monetary value of the gift alone might be said to be worth it.
But the real value of over 50 insurance with free gifts is likely to go much further than the value of the gifts themselves.
What a thank you or welcoming gift goes on to express is your insurer’s commitment to delivering a first-class service throughout the duration of this type of whole of life insurance cover.
That commitment might be best illustrated by the very high number of over 50 life insurance claims which are settled each year, without the shadow of any question or delay. Insurers Royal London, for example, reported on the 29th of April 2016 that in the previous year, it had paid out a faultless 100% of over 50 life insurance claims.
Gift or no gift, the over 50 life insurance you have bought should have the following factors in play to truly be worth it:
- your acceptance for cover is guaranteed – irrespective of your state of health or lifestyle choices;
- plans that start with premiums costing just a low amount each month;
- the cost of your premiums is fixed, so there is always just the same amount to pay each month – whatever may happen to prices or interest rates elsewhere in the economy. If you don’t understand what this will entail, this life insurance FAQ might be of use to you;
- this type of whole of life insurance – which pays out whenever you die – is available to anyone over the age of 50 and up to the age of 75 or 85, depending on the insurer;
- the full life cover under the terms of your insurance plan comes into effect either one or two years after commencement (depending on the insurer);
- when you die, your designated family members receive the agreed, guaranteed pay-out from the policy;
- if you die as a result of an accident, many such over 50 life insurance plans provide additional cover;
- with many policies, too, you may add an optional funeral benefit – which may add a further 250 to 300 to any claim settlement which is paid directly to a funeral plan provider; and
- online quotes for over 50 life insurance are typically delivered within just a minute or two.
Over 50 life insurance with a free gift that makes your custom feel wanted and valued might form an integral part of your financial planning for the future.