Welcome to the Over 50 Insurance Website
Important Financial Decisions
When you get past a certain age everything seems to get more expensive. You will need to visit the doctor more often, you might want the heating on for longer and you might be on a fixed income. Insurance for those aged over 50 is also more expensive in most cases and so the importance of finding the best possible over 50 insurance plans cannot be underestimated.
The one area where being that little bit older is an advantage is motor insurance. Most insurers will accept that the more mature a driver is the less likely they are to have an accident. In addition older drivers tend to drive their cars less often and will have smaller less expensive and more reliable car types. For this reason getting car insurance once you are over 50 should be easier and cheaper than ever.
The one area where being that little bit older is an advantage is motor insurance. Most insurers will accept that the more mature a driver is the less likely they are to have an accident. In addition older drivers tend to drive their cars less often and will have smaller less expensive and more reliable car types. For this reason getting car insurance once you are over 50 should be easier and cheaper than ever.
Launched on 31st July 2006, Castle Cover operates from Poole in Dorset and has from the outset aimed to provide insurance cover at competitive prices. It does this by focusing exclusively on the over 50s market, which is seen as a low risk area where a low level of claims means premiums can be kept at a correspondingly low level.
The initial product was home insurance and the launch was publicised mainly through a direct mail campaign, which was considered the most appropriate medium for the target market. Each mail pack contained a number of flyers plus a personalised letter that emphasised the trustworthiness of the company and the affordability of its products. To encourage response, a free pen and participation in a prize draw were offered.
The initial product was home insurance and the launch was publicised mainly through a direct mail campaign, which was considered the most appropriate medium for the target market. Each mail pack contained a number of flyers plus a personalised letter that emphasised the trustworthiness of the company and the affordability of its products. To encourage response, a free pen and participation in a prize draw were offered.
Car drivers tend to pay the highest premiums for car insurance at the start and end of their driving lives. When they're young and have just passed their test, they're considered high-risk drivers who cause a lot of accidents due to their inexperience and immaturity. They also tend to boost their image by driving 'boy racer' cars that are often too powerful for them to handle properly. As a result, annual premiums are often frighteningly high.
Once drivers reach retirement age or thereabouts, they're increasingly thought to be doddery and not fit to be behind the wheel. Premiums start to rise to reflect the perceived increased risk until they reach a level when many older drivers are forced off the road by the cost.
Once drivers reach retirement age or thereabouts, they're increasingly thought to be doddery and not fit to be behind the wheel. Premiums start to rise to reflect the perceived increased risk until they reach a level when many older drivers are forced off the road by the cost.
Since their launch in 1992, RIAS has been providing insurance for the over 50 market via a number of insurance partners. They pride themselves on offering the best deals and the ability to offer a service tailored for people who are slightly older. They quite rightly believe that those who are over 50 deserve the best insurance deals as they represent a lower risk to insurance companies.
RIAS are ready to negotiate the best deals for their customers based on the fact that as people age they tend to become more risk averse. This means that they drive more carefully, they have smaller, more reliable cars, they are more careful about home insurance and they tend to make insurance claims less often than younger people.
RIAS are ready to negotiate the best deals for their customers based on the fact that as people age they tend to become more risk averse. This means that they drive more carefully, they have smaller, more reliable cars, they are more careful about home insurance and they tend to make insurance claims less often than younger people.
Having merged with AXA Equity and Law in 1997 to become AXA Sun Life, the former Sun Life Assurance Society plc became part of the French-based AXA insurance group. It changed to its current name in 2009 as the trading name of AXA Sun Life plc. The company actually started as the Sun Fire Office Board in 1810 and so celebrates its 200th anniversary in 2010.
Sun Life Direct's big speciality is life cover and particularly over 50s life cover. It has been offering life cover plans since 1979 and had over 750,000 customers by the middle of 2010.
Sun Life Direct's big speciality is life cover and particularly over 50s life cover. It has been offering life cover plans since 1979 and had over 750,000 customers by the middle of 2010.
There are insurance companies that have products aimed specifically at women and there are also companies that specialise in the over 50s market. So insurance for women over 50 is a bit of a niche market that cuts across both areas.
Car insurance is an area where the older woman is likely to gain particular benefit. Not only is the over 50s age group thought to be a low-risk market for car insurance but women are also known to have a good claim record. Over 50s are classed as safe and sensible drivers who have relatively few accidents compared to other age groups while women are statistically proven to have a better driving record than men do on average.
Car insurance is an area where the older woman is likely to gain particular benefit. Not only is the over 50s age group thought to be a low-risk market for car insurance but women are also known to have a good claim record. Over 50s are classed as safe and sensible drivers who have relatively few accidents compared to other age groups while women are statistically proven to have a better driving record than men do on average.
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.
