Life cover for over 50s launched by AA
The AA has launched a new low-cost life insurance policy for those aged 50 and over. AA 50 Plus is underwritten by Friends Provident. It is a whole of life plan that provides a guaranteed cash sum on death. The AA believes it is the most affordable product of its type on the market. The minimum premium is £4.99 per month and the maximum £49.99.
Mark Huggins of AA says: "The beauty of the plan is its simplicity - it does just what it says it does. It is easy to start and there is no medical underwriting or complex form filling. You can pick your price, which will influence the sum assured. You are guaranteed to qualify if a UK resident 50 to 80. Funeral fees have gone up substantially while recent reports suggest that many councils are substantially increasing both burial and cremation costs. This plan could help families cope with such expenses."
Funeral plans news: 10 February 2011