Sainsbury’s has launched an Over 50s single life cover plan with premiums starting from as little as £8 a month.
The plan can be taken out between the ages of 50 and 74. No medical is needed and premiums will remain level for the life of the plan. Premiums stop at your 90th birthday, but cover continues.
You can choose how much cover to have based on a rate table, or choose from a number of set premiums to suit gender and age. After five years, cover is increased automatically by 10% with no increase in premiums.
Lucy Hunter of Sainsbury's says, “These policies can make a lot of sense if you want to leave a tax-free sum to your partner and loved ones when you die. Also, with no medical required and applications accepted online or on the phone, our Over 50s single life cover plan is easy to apply for.”
The insurer is Legal & General.
Life insurance: News update: 11/05/2009