Of course, there are other types of protection that you can consider beyond the age of 50 if you have different protection needs.
Critical Illness Cover can be added when taking out a Life Insurance or Decreasing Life Insurance policy at an additional cost, up to and including the age of 67. With our Critical Illness Cover, you can receive a cash sum if you’re diagnosed with, or undergo a medical procedure, for one of the specified critical illnesses that we cover during the length of your policy, and you survive for 14 days from diagnosis.
Alternatively, you could take out Income Protection Benefit (which must be bought via an adviser) before your 60th birthday. Following a valid claim, this gives you a regular monthly benefit if you’re unable to work due to illness or injury. Income protection insurance is often said to be an important option for self-employed adults, but can also be applicable if you're employed – including people over 50 – so it’s worth considering this type of protection policy to the options we’ve already covered.
Remember, these policies are not savings plans and there is no payout unless a valid claim is made.