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The main motto of this policy is to provide you ways which will guide you enough to plan your future without any hinderers. The policy offers an affordable and simple plan to help the policyholder leave behind something for their family members or loved ones once they are no more.
The Over 50 plan provided by Santander is nothing but a life insurance plan which is mainly designed to pay back a fixed lump sum within two years after the demise of its customer. Santander over 50 Life Insurance is the Leading insurance plan in UK.
Unlike other life insurance plans, The Santander over 50 life insurance plan makes it quite easy for the policyholder to leave behind a sufficient lump sum for their dear ones when they are no more grounded. The price range of premium is near about £6 a month.
About Santander Over 50 Life Insurance
One of the largest banking groups in the Euro zone, The Santander Group is centered on Banco Santander, S.A. According to Forbes magazine global 2000, The Santander group is one of the largest group in terms of market capitalization.
The merger of Banco Hispanoamericano, Banco central and Banco Santander in the year 1999 resulted in the creation of Banco Santander Central Hispano or BSCH which now commonly referred to as ‘The Santander Group’.
Advantage
As long as you are within the age group of 50-85 you’re surely guaranteed to be accepted with no health or medical queries. You premiums paid are worth it as if you die within the first two years of the plan started you will be returned with all the money you paid as premiums and half of it again. With the flexibility in the payments of the premium, the price ranges from £6 to £74 per month according to your affordability. You just have to make sure that the premium which you chose is affordable by you since your cover will never go down and your premium will never rise.
Drawbacks
One of the main drawbacks is that the policy will cost you more money and you won’t be having it to use it for your any personals. Also until and unless you are 90 you have to pay your premiums or else nothing will reach your hand. Only for first two years the condition is applicable for receiving all the money deposited as premium and half of it again later if you die within the first two years of the policy period but if you die after two years than there is no guarantee regarding pay back.
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