Sainsburys Bank : Over 50s Life Insurance Plan

Product profile

Description

Giving your family a helping hand towards your funeral costs could be taken care of simply with a  cash lump sum on your death

Age

50 to 74

Period of cover

• Minimum one year

• Cover ends at death

• Cover continues but premiums cease at 90

Benefits

• You choose the amount up to £20,000

• The amount of cover automatically increases by 10 per cent after five years

• Level benefit basis

• Life cover

• Guaranteed acceptability

• No medical or health questions

• No contact with your doctor

• Premium based on age the policy is taken out

• Accidental death cover premium only for first 24 months

• Your premiums will never go up once you've taken out cover

• Full refund of all premiums if you die from any cause except an accident within the first two years

Not covered

Taking part in a dangerous sport or pastime

Taking part in an aerial flight, other than a licensed airline as a fee paying passenger

Committing, attempting or provoking an assault or criminal offence

Important notes

• No cash-in value

• Depending on how long you live, the total premiums you pay may be greater than the cash lump sum paid on your death

• The lump sum payable on your death will form part of your estate, which may be subject to inheritance tax unless you write your plan in trust