Saga has entered into the life insurance market with the launch of Guaranteed Acceptance 50+ Life Cover Plan. It has been developed with PruProtect and is underwritten by Prudential Assurance.
Those who have no health problems will benefit from up to 15% more cover for the duration of their policy, typically worth £685, and will be placed on full cover immediately. It offers whole life cover with no medical required and pays a guaranteed, fixed sum on death. The plan is open to customers 50 to 85.
Andrew Goodsell of Saga says, “We believe the over 50s have been poorly served by the life industry in the past, a problem we aim to put right by offering better terms to those who lead healthy lives.”