Saga: Saga Guaranteed Life Insurance

Product profile

Description 

• Pays out a guaranteed fixed cash sum when you die

• Option to pay proceeds to funeral director

Age

50 to 85

Benefits

• You choose the amount

• Level benefit basis

• Guaranteed to be accepted without a medical

• No health questions or medical examination

• Life cover

• Premiums guaranteed never to rise

• Premiums cease at age 90 but cover will continue

• Free confidential advice on elderly care

• Telephone helpline on bereavement and diagnosis of critical illness

Basis of cover

Standard is for all, and Enhanced is only for those who are healthy.

Standard

• Accidental death cover only for first 12 months

• Premiums returned if die naturally within 12 months

Enhanced

• Accidental and natural death cover in first 12 months

• An additional 15% payout at no extra cost

Options

• Enhanced cover

• Funeral benefit from Co-Operative Funeralcare

Warning

In some cases there may come a point when the premiums paid will exceed what would be paid out on death. The lump sum paid out may be subject to inheritance tax unless the policy is written in trust.

Last updated: 5 October 2010