What Martin Lewis said about our Over 50'S Life Insurance

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With plenty of advice available online these days, a simple free gift with your life insurance policy shouldn’t be enough to sway your choice of provider anymore (and it never should be by the way).

Websites such as Money Saving Expert, founded by Martin Lewis, provide millions of people with a logical and sound decision-making process when investing in financial products.

Martin Lewis reviewed one such financial product – over 50’s life insurance - to help people understand the type of cover and to highlight the best life insurance plans for people over 50 years-old. His review is somewhat scathing, and deservedly so – why would you pay in more than will be paid out?

While reviewing particular life insurance providers, he argues that the main downfall of their over 50s life insurance policy was its low and static payout, one which may well be less than what you paid in.

At Quick Quote Protect, we don't offer such policies and we only use the best over’s 50’s life insurance plans available in the UK.

Our advisors at QQL will listen to your exact requirements and situation, then review a database of insurance providers and run a comparison of over 50's life insurance policies to find you not only the cheapest, but the best cover possible.

In his review of the over fifties life insurance plan, Martin ended on a positive note – and that was a list of insurance providers that could offer indexation and a decent payout for minimal monthly costs. These are the providers that QQL turn to when looking to find you the best cover.

As well as using only the best life insurance plans and providers in the UK, our advisors will offer you a comprehensive guide to buying life insurance so that you understand exactly how your plan will work and how you can make the most of it.

They will talk you through index-linking your life insurance policy and will help to find you a policy with great rates if you have a pre-existing medical condition.

Our over 50’s plans do not require a medical but we do need you to be honest when applying for life insurance. Lying on your application could result in the insurance provider not paying out in the event of your death. Having said that, over 98% of policies are paid out in full – see the exact graph here.

Indexing your life insurance policy is a great move for over 50’s plans. What your assured sum is worth now, is realistically not what it will be worth in a decade or two due to inflation. Indexing your insurance policy to the Retail Price Index (RPI) will make sure the value of your assured sum is representative of its worth in years to come.

You will have to index your premiums too but the increase is only small, and without sounding too morbid, it won’t be for long enough to become substantial. Those getting life insurance very early on can opt-in to index-link their life insurance at a later stage or opt out at any point if premiums become too expensive – their assured sum will be fixed at whatever value they opted out on so no paying-in has been lost.

The benefits of over 50’s plans in a nutshell are:

• No medical needed
• Guaranteed to be accepted
• shorter duration for indexation
• Good payouts (if you shop around)

The crux of what Martin Lewis had to say about over 50’s life insurance was this: shop around, do the maths and be smart. At Quick Quote Protect, we can do all that for you!

If you want some help or feel you don’t quite understand the way it works then just give us a call. We are here to help, advise and find you the best life insurance policy suited to your needs.

Useful Guides

• The Ultimate Guide to Life Insurance
• Over 50s Plans Explained
• What is Index-Linking in Life Insurance?