Nationwide Building Society is launching a whole of life plan specifically for the over-55s.
The over-55s life cover plan will offer guaranteed acceptance without medical or statement of health required and will be available for clients aged between 55 and 75, with premiums that will never rise.
The plan offers a sum assured of up to 20,000, with premiums starting from 6 a month, with the first months premium waived.
Nationwide divisional director for insurance Robin Bailey says: The over-55s life cover plan offers guaranteed acceptance between the age of 55 and 75 – without the need for a medical or statement of health. Premiums start from only 6 per month and provide a competitive lump sum payment in the event of death which can be used for any purpose. This could be to cover funeral expenses or even provide a small nest egg for a family’s well-being.