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Homeowners Friendly Society offers new life plan

The Homeowners Friendly Society is targeting UK residents aged between 50 and 75 with its friendly life cover plan.

The guaranteed acceptance life insurance plan can be used on death to help pay outstanding debts or to pass on a tax-free lump sum to loved ones.

For a monthly payment of £16, a female non-smoker aged 65 would receive life cover worth £3,451. In comparison, HFS says a similar policy with another provider would offer cover of £2,482 a difference of £970.

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