Welcome to the Over 50 Insurance Website
Important Financial Decisions
There are some insurers who have developed travel insurance offers for people with pre-existing medical conditions. Saga's website says "we aim to provide comprehensive cover for all of our customers" and does not offer the option of excluding a medical condition. It points out that while some insurers do offer this option, in the event of a claim "all bills would have to be funded by you and these can become very expensive in overseas hospitals and clinics.". Saga also notes that the European Health Insurance Card is not a substitute for illness insurance under a travel policy.
Saga revealed research showing that the elderly are losing faith in the NHS. 87% of those over 50 have used the NHS in the last year and 43% rated their experience as good. However a third of the people questioned felt that the NHS will get worse over the next 5 years. Saga Health say that they have seen a marked increase in the numbers of people enquiring about private health insurance.
Saga revealed research showing that the elderly are losing faith in the NHS. 87% of those over 50 have used the NHS in the last year and 43% rated their experience as good. However a third of the people questioned felt that the NHS will get worse over the next 5 years. Saga Health say that they have seen a marked increase in the numbers of people enquiring about private health insurance.
Growing old can be a double-edged sword, especially when it comes to insurance. Some companies will view you as a better risk as you get older while others will treat you quite differently.
Car insurance illustrates the different ways that older drivers are treated. Some companies require increased premiums once drivers hit 50 while many believe that older drivers are safer, at least up to a certain age. The drivers most at risk are young males who have passed their test recently and the more mature drivers are less likely to be involved in accidents. However, figures produced by the Association of British Insurers (ABI) show that drivers over 70 are 13% more likely to claim on their motor insurance than those aged between 40 and 50 and the cost of their claims is generally higher. As a result, premiums often increase rapidly, especially when past 60, resulting in inflated costs in later years.
Car insurance illustrates the different ways that older drivers are treated. Some companies require increased premiums once drivers hit 50 while many believe that older drivers are safer, at least up to a certain age. The drivers most at risk are young males who have passed their test recently and the more mature drivers are less likely to be involved in accidents. However, figures produced by the Association of British Insurers (ABI) show that drivers over 70 are 13% more likely to claim on their motor insurance than those aged between 40 and 50 and the cost of their claims is generally higher. As a result, premiums often increase rapidly, especially when past 60, resulting in inflated costs in later years.
As you get older, life insurance can become more important. Although you're likely to have fewer dependants to provide for, end of life is coming nearer and you may want to have some money available to meet funeral costs and other expenses, as well as leaving something for your children or grandchildren. There may be money available in your estate but it can be tied up until everything is sorted out, so a life insurance payout can be a benefit at an upsetting time.
Many life insurance companies recognise this need and so provide plans aimed specifically at the over 50s. These have many common features that include guaranteed cover with no health questions or medical examination. There is generally a scale of premiums and the cover available will depend on your sex and whether you're a smoker as well as the amount of premium you pay.
Many life insurance companies recognise this need and so provide plans aimed specifically at the over 50s. These have many common features that include guaranteed cover with no health questions or medical examination. There is generally a scale of premiums and the cover available will depend on your sex and whether you're a smoker as well as the amount of premium you pay.
