The bad news is that I’m only 49 and can’t have one of these yet. When the job ends on 31st May my death in service benefit will end. The critical illness policy has already paid off the mortgage. In other words I’m worth nothing extra when I go!
But with daytime TV packed with over-50 life assurance plan adverts my exploitative mind is ticking away.
No medical questions asked. Good news for those of us that are medically compromised.
Premiums refunded if you check out within 12 months (or 24 months with Parky’s lot). So it’s heads you win, tails you get your money back. £75 retail gift cards at some places too!
Cover is basically priced at around 20/1 that a fifty year old taking out the policy will die within any particular year after taking the policy out.
It’s pretty terrible value for the healthy middle aged man. For a bloke with a terminal illness like mine it’s an absolute gift and I can’t see a catch, unless I live for an unexpectedky long time. I get the benefit of extra direct debits to gain benefits on various bank accounts. The kids inherit more.
Roll on January when I can take multiple plans out!