We work directly with FCA authorised advisers who will be able to answer any of the questions that you may have about life insurance and making sure you get the right cover for your circumstances.
Detailed in these FAQs is generic information to help you understand a little more about insurance. Please do not consider that we are giving you any financial advice nor making recommendations to you. You should ensure that your FCA authorised adviser answers the questions that you have.
Why do I need Life Insurance?
Having a comprehensive life insurance policy in place will provide peace of mind for
both you and your loved ones.
The purpose of life insurance is to provide a source of income for your children, dependents, or
other beneficiaries. Life Insurance policies will pay your family either a lump sum or a series of
smaller sums in the event of your death or if you are diagnosed critically ill.
Why Choose 50pluslife?
50pluslife can provide free instant quotes, plus full, tailored quotes on request. There are no charges at any stage for this service. 50pluslife works with FCA authorised advisers to help you find the the most suitable life insurance quote for your circumstances. The FCA authorised advisers we work with scan hundreds of life insurance providers and policies for the best deals available. Our service is free, quick and easy to use and you are under no obligation to accept the quotes you receive.
There is no obligation to accept any quote we offer.
We off acess to FCA authorised advisers who offer a complete service for the best value life insurance.
How much is the cost of life insurance?
The cost of life insurance depends on multiple factors, some of which we have
1. How much cover you require
2. How long you want it for
3. Your age
4. Your sex
5. Your occupation
6. Your medical history
7. Your smoking habits
8. Current state of health
All of these factors can affect the cost of life insurance.
How much life cover do I need?
This will depend upon your personal circumstances and it is something that you
should discuss with your FCA authorised adviser.
As a rule of thumb, the loss of a partner will result in a fall of approximately
30% in the expenditure of a family. You should be looking at cover of about five
to ten times your annual salary.
If you are the breadwinner, you may want to keep your family in something like
the style to which they have become accustomed.
If you are a carer, you may want to provide cash for professionals to take over
because you are not around.
How long should I be covered for?
It is impossible to provide a definitive answer to you as much will depend on
your individual circumstances. Things you may wish to consider include how long
your savings will provide for you and your family and how long before your
dependants are old enough to look after themselves.
If you are looking to cover the cost of you mortgage repayment, you will want to
cover the amount of the outstanding debt on your mortgage up until such a time
as the debt is paid off.
There may be other considerations which you should discuss with an FCA authorised
What type of mortgage cover do I need?
An FCA authorised adviser will be able to tell you what type of policy is right
for you. If your mortgage is a repayment mortgage, Decreasing Term Assurance may
be the right policy for you.
If you have an interest-only mortgage, a level term policy may be more