Who are Shepherds Friendly?
We’re a mutual society that acts differently. In a world of financial complexity, we believe in the power of simplicity. We’ve made it our mission to provide clear, fair plans that help our members organise their finances and secure their family’s future.
About our Over 50s Life Insurance:
Over 50s life insurance can be taken out by people aged between 50 and 80 years old. It allows you to leave behind a fixed tax-free cash lump sum after your death, which can then be used by your loved ones towards any funeral costs or unexpected bills. This plan costs from as little as £10 per month, and you can choose to pay up to £50. Your premiums are guaranteed never to rise and your cover will never be reduced, regardless of your future health. If you have loved ones such as a partner or children, over 50s life insurance could give them a helping hand once you’re gone. No medical information is required for over 50s life insurance plans, so there’s a guarantee that your application will be accepted.
Important things to consider about Over 50s Life Insurance:
If your circumstances change and you stop paying the premiums, your over 50s life cover will end after three missed premiums.
Over 50s Life Insurance has no cash in value at any time, so if you cancel it after the first 30 days you will get nothing back.
Your life cover does not start until after the second anniversary of your plan start date, as shown in your plan illustration, unless you die as a result of an accident, in which case your life cover begins from the start date shown on your plan illustration.
This life plan is not a funeral plan and therefore may not cover the full cost of a funeral.
Over time, although the amount we pay out when you die is fixed, this amount is likely to reduce in value because of the effects of inflation.
Depending on how long you live, the total premiums you have paid may be greater than the amount payable on death.
All references to taxation are to UK taxation and are based on Shepherds Friendly Society’s understanding of current legislation and H M Revenue and Customs practice which may change in the future. Please ensure that you read the full terms and conditions of this plan which are available from your financial adviser or by contacting us directly.
Please note: No advice has been provided by Shepherds Friendly. If you are in any doubt as to whether a plan is suitable for you, we recommend getting in touch with a financial adviser, who will be happy to take you through what options are available. Should you consult a financial adviser there could be a cost involved and you should confirm this cost beforehand.
