Designed especially for the over 50 market Tesco Finance has launched a new life insurance policy that will leave a guaranteed tax free lump sum upon claiming.
There is no medical needed as long as applicants are aged between 50 and 75 and all customers who purchase the policy before 26 June also receive a GBP20 gift voucher. Applying for the Tesco Finance life insurance policy is really easy, using the phone or online.
Payments into the Tesco Finance insurance policy stop when the person covered reaches 90 years of age but the policy remains valid until death. Typically a 55 year old man who pays GBP10 per month would receive a lump sum of over GBP2,400, while a woman of the same age and paying the same amount would receive over GBP3,000.
The credit crunch has brought with it rising prices and access to borrowing much harder than it used to be. Looking at how this impacts on UK residents the Post Office, insurance providers as well as much more, have seen the over 50 market hit the hardest.
The rise in the cost of living has meant almost two thirds of the over 70s now use credit to buy basic food and groceries. This will be in the form of credit cards or overdrafts. Meanwhile 35 percent of over 50s can no longer put savings aside regularly said the Post Office insurance against harder times in the future.
Speaking of which a Post Office insurance spokesman urged people to make sure they are paying reasonable rates for their life insurance. An essential like this can still be bought effectively and as such leave a little more money for day to day costs.
A new mortgage and lifestyle protection package has been announced by Liverpool Victoria, designed to provide peace of mind for customers who suffer sickness or unemployment.
The package is quite comprehensive in what it offers, with the option of regular mortgage payment coverage or an index linked sum that will replace more living expenses in the event of difficulties. There is a lot of flexibility in the package too, with the facility to have cover running for different periods of time depending on the need.
A Liverpool Victoria spokesman explained that the protection package offered the flexibility customers wanted with simplicity and delivered the peace of mind that was sought.
