Senior life insurance policy, If you die during the period, the insurance company pays your loved ones and if you don’t, the insurance company protects your premiums. So far, the only way to guarantee a payment was with all life assurance.
But now, you have a new option. If you don’t die, you can get something back on your life insurance.
Senior Life Insurance has launched a new type of life policy called the Life Changes Option. It is a life policy that has many advantages against competition. It makes it easy for you to calculate the maximum amount you will pay to see if you can pay more than you pay for your policy.
Get free protection after 15 years
While he died without paying another penny. you may choose to pay a lower warranty. After paying your policy for 15 years, if you decide that you no longer want to pay a premium, you can stop, but some of your security will continue.
Get life insurance cash back after 15 years
You can choose to receive an immediate refund and terminate your policy. If you decide that you do not need senior life insurance after paying your policy for 15 years, you may receive a refund of up to 70% of your premiums.
The amount of the refund depends on your coverage, age and smoking status, so you may need to get a definite price quote for you. You can use it to avoid the inheritance tax bills for your children.
Your policy will pay for the first diagnosis of a disease that is not treated or cannot be treated and is expected to cause death within 12 months.
How much does the life insurance amount with a refund at the end of the period?
As you can understand by reading the above, guaranteed repayment senior life insurance will be more expensive than normal life insurance. After 15 years, you can get your hands to 70% of the money you pay.