Life insurance helps reassure you that your spouse or dependents will not be left with mortgage payments, funeral costs or other debts to settle should you die prematurely; it can also pay out lump sums and ensure the financial security of your surviving family. Insurers take age, as well as state of health, into account when calculating a premium, but there are plans specifically designed for the over-50s which need not involve medical checks.<br> <br>Only selected insurers may offer conventional life cover to elderly policy-buyers, but over 50s life insurance can be bought from specialist providers and plans can typically be bought between the ages of 50-80. They can continue to give cover and the same guaranteed pay-outs after your 90th birthday without any further monthly payments required – though remember to check the conditions for each individual policy. <br> <br>Consider the benefits<br>Different types of life insurance policies offer different benefits – depending on how much you pay for them – so make sure you compare like with like when looking for a quote. The cheapest policy may not necessarily give the best value to your beneficiaries.<br>Consider:<br> <br>- The alternative types of life insurance policy, i.e. whole-life (which pays out when you die, with no pre-determined policy term), level-term (with fixed monthly payments over the agreed policy term) or decreasing term (usually with a lower monthly cost than level-term, and paying out less as time goes by – designed to cover decreasing costs such as repayment mortgages). Which will offer the best value to your dependents?<br>- Whether you want single cover or a joint policy with your spouse, and if you <a href="http://over50slifeinsurance.org/">here</a> require critical illness cover.<br>- Whether a policy pays out a guaranteed cash lump sum if you die during the policy term, and/or pays any funeral costs, or if it guarantees a monthly income to your surviving beneficiaries for the remainder of the policy term.<br>- Whether you want a policy which is linked to your pension and any endowment policies or other investments you have made, or to write it in trust.<br>- The level of monthly payments you want to make, whether they will increase year upon year (typical with a ‘low start’ rather than ‘level term’ policy), and if a policy will refund should you survive the policy term.<br>- Whether accidental death is treated differently to death from a medical condition, and if any other restrictions on pay-outs which may apply. Some policies may not pay out if the policy-holder dies within the first two years, for example.<br>- Whether medical certification or health checks are required to start or maintain the policy.<br><br>For more Over 50s life insurance Information visit: http://over50slifeinsurance.org/