Silver Life Cover - Life Insurance for Over 50s
As you get older, your financial obligations and responsibilities change. Your children may have just finished their education, left home and you may have paid off your mortgage, or with very little debt left. With these in mind, that doesn't mean that you want to burden your loved ones with the expenses that incur if you are to pass away suddenly.
Life insurance may be harder to obtain when you reach a certain age, particularly over 50. If you are eligible for cover, it may seem hard to find a policy with affordable premiums, often due to certain health risks that may affect individuals over the age of 50.
Therefore, you need to look for specialised life insurance products which understand your differing needs, which is why Real Insurance has specifically designed Silver Life Cover, for Australians over 50 years old. Silver Life Cover can pay a benefit to your family or your estate when you die, so that you don’t have to worry about leaving behind funeral bills, final expenses or unmanageable living costs.
Features of Silver Life Cover from Real Insurance
Everything from your health needs to your sleeping habits, to the car you drive change as you get older. So it makes sense that if you are over 50, you should look into a dedicated senior’s life insurance to help meet those changing needs. Real Insurance is the third largest reinsurer in the world, which means that you can rest assured that your policy and your insurer can be relied upon to look after your family when you’re gone. Some of the benefits and features of Real Insurance include:
- Flexibility to choose your cover amountYou can choose a Silver Life Cover benefit amount from $3,000 up to $15,000 to be paid to your family, to help with final expenses when you die. This means that you can protect your family and provide for your final expenses, but you can also keep the cover affordable, because the higher the cover amount you choose, the higher your premiums.
- Accidental death coverIf your death is the result of an accident, the benefit amount of your policy will triple, so your family could receive a benefit of up to $45,000 when they need it most. You are covered for accidental death only in the first 12 months of your policy, and covered for all causes of death after that.
- Optional accidental serious injury coverWith Real Insurance you can also add accidental serious injury cover to your Silver Life Cover policy, so that you and your family can receive financial assistance not just if you die, but also if you suffer from one of the defined injuries as the result of an accident.
- A single or family cover planYou can choose to take out Silver Life Cover for just yourself, or you can cover yourself, your partner if they are over 50 too, and any financially dependent children who are under 21 years old, on the family plan.
- The Real RewardTM Cash BackReal Insurance wants to reward you for your loyalty in holding onto your life insurance product, so once you’ve held your policy for 12 months, you will receive back 10% of the premiums you’ve paid.
- Your choice of payment optionsYou can choose to pay your premiums fortnightly or monthly, and there is no extra charge for the frequency you choose. This allows you to adjust your policy premiums to suit your budget.
- Choice of fixed or age based premium rateWhen you choose the fixed premium rate, your premium will only increase if you increase your benefit.
- Free cover when you’re 90 years oldOnce you reach your 90th birthday, you won’t have to pay premiums on your Silver Life Cover, yet you will remain insured for the rest of your life.
Why Choose Real Silver Life Cover?
Most of us are now quite savvy when it comes to preparing for retirement. Whether you have a portfolio of investments in shares, property, cash or a mixture of mediums, this is money you have worked hard to earn and manage. This means you don’t want your family or partner to have to spend those savings on your funeral or final expenses – they should be used as a legacy to enjoy life. That is where Silver Life Cover comes in, to provide the money needed for those final costs, and help your family maintain financial freedom.
When you apply for Real Silver Life Cover, you won't have to go through any blood tests or medical examination and you will be guaranteed acceptance as long as:
- You are an Australian resident, and
- Between the ages of 50 and 79 years.
Real Silver Life Cover is a life insurance designed for the older citizen who has up until now felt left out of the race as they age. Simply because a person has now paid off their mortgage and the children have all left home to start their own careers and families, doesn't mean they don't need life insurance anymore. Perhaps in many cases it is the time when they need life insurance the most. The cost of even the smallest benefit can often be beyond their financial capabilities. Real Silver Life Cover can give these people a second chance, a chance to cover their final costs at a price they can afford.