That’s also meant for living….
This is a press release on Over 50’s life cover from Engage Mutual – contact us to see if their product may be suitable for you. Here goes:
But since introducing the option to claim a cash lump sum on diagnosis of either a serious or terminal illness on its guaranteed over 50s life cover, Engage Mutual anticipates that it will soon be paying out to its policyholders on this basis.
“The terminal and serious illness option on the plan provides real financial help when most needed, while the client is still alive,” explains sales director, Maria Harris.
“With the two year moratorium on the first policies sold now at an end, we are expecting to start receiving claims through for cash lump sums from clients who find themselves in this situation. They should provide a welcome financial helping hand at a time they might need it most.”
Policyholders diagnosed with a terminal illness after the end of the moratorium period, which applies in the first two years of the plan, can claim the full sum assured, in which case the policy would close. Those diagnosed with a serious illness after the moratorium period can claim 20% of the full sum assured. The serious illness benefit can be claimed once, leaving 80% of the sum assured available in the event of a terminal illness diagnosis, or to be paid on death.
Engage offers cover levels up to £40,000; a wide range of premiums from £10 to £75 per month dependent on the sum assured; and maximum accidental death benefit of £48,000 (the policy pays out three times the level of cover to a maximum payout of £48,000 if death occurs in the first two years solely as the result of an accident).
The plan is currently the only one of its kind to offer customers the flexibility to claim a cash lump sum should they be diagnosed with a serious or terminal illness, at no extra cost to them. It continues to offer guaranteed acceptance without a medical, affordable premiums and a simple application process.
Providing access to a cash lump sum at a time of crisis can help alleviate money worries and assist with any practical changes that may need to be made at home.
In addition, the plan includes free access to a personal nurse adviser in the event of serious or terminal illness, offered as part of a range of free services provided by Engage Health Support.
Maria Harris continued:
“This is an over 50s life cover plan with a difference. It provides extra reassurance, and for the first time it offers benefits to the insured, as well as their families. It is there to support clients and their loved ones when serious or terminal illnesses can suddenly hit and options need to be considered.”
Advisers have given a ‘thumbs up’ for the clarity of the product, and complimented the fact that the serious illness benefit option can be easily applied.
Engage Mutual’s Guaranteed 50 Plus Life Cover also offers access to a free independent long term care advice service from one of the UK’s leading independent care advisers.