Which other types of policy could I compare?
If your need for life insurance will still be a factor in older age, you might want to consider a whole-of-life insurance policy. This type of cover could protect those you love most through a lump sum payment. However, before purchasing this form of insurance, you should pay attention to the total premium you you’ll end up paying. That’s because whole-of-life policies often require you to continue to make payments for the rest of your life, or at least until an advanced age – typically up to around 90. Be sure to read the terms and conditions of each policy with care, so that you’re clear on exactly what you are signing up for.
Some people take out over 50s life insurance for funeral expenses. Bear in mind that these plans often have a maximum age for acceptance, which can be as high as 90. For your beneficiaries to be eligible for a pay-out, you may need to survive for two years after commencement of the policy.