Can I buy life insurance for my parents? - Quora
Life Insurance Post Office Over 50s Life Insurance If you're aged between 50 and 80 Post Office could help you to leave your family the gift of a cash sum or help towards your funeral costs Over 50s Life Insurance Post Office Free Parent Life Cover If you have children aged under four years old, you could get £15, 000 of life cover free for a year. That's £15, 000 each for mum and dad. Free Parent Life Cover Post Office Critical Illness Benefit Get extra protection and financial peace of mind by adding the optional Critical Illness Benefit to your Post Office Life Insurance. Critical Illness Benefit A closer look at family life insurance For more information on the above policies, you might want to look at our list Post Office life insurance guides and articles. They cover a range of topics and go into greater detail on all of the policies and situations outlined above.
Over 50s cover might be an important part of a family life insurance plan. It differs from term life policies in that it is cover that lasts for the rest of your life, regardless of how long that is. The payouts for Over 50s policies tend to be significantly lower than for term life policies, and are not designed to cover large repayments such as mortgages. Rather, they can help contribute towards the cost of your funeral, settle credit card bills or act as a gift to your family. There are fewer qualifying factors to over 50s policies – with the Post Office, you simply need to be a UK resident aged 50 to 80 to qualify. If life insurance for your family is something you're thinking about, use our calculator to find out what you might need or consult our team to discuss what type of policy might be right for you. If you're convinced that you need life insurance, then consider a life cover policy from the Post Office. Other ways to get covered Post Office Life Insurance Choose between level, decreasing or increasing term insurance, each designed to offer you peace of mind based on your circumstances.