23 May 2024

Have I left it too late to take out a Life Insurance policy?

Life Insurance provides cover for the unexpected, and offers financial support to your loved ones in a difficult time.

But is there an age-limit on taking out Life Insurance cover?

Start as young as possible

Ideally, the younger you are when you take out a Life Insurance policy, the better. This is because the chances of developing health conditions increase with age, which in turn increases the price of life insurance. By buying a policy in your younger years, you get more affordable cover for a long time to come.

Consider your financial obligations

There is a list of things to consider when deciding on the level of cover you require, but also whether you need cover in the first place. If you have a mortgage, children or are the main income earner, chances are your dependents would struggle if you were no longer around to take care of them.

If you purchased a property when you are younger, you might have a very small mortgage remaining, or your children may be older and financially independent. In this case, a new policy in your older years could protect you with any remaining mortgage payments, help your partner to continue to live without the worries of bills, or to put money towards the costs of a funeral.

Can I still get cover?

There are a range of age limits depending on the policy term and the cover that you require. Stacey, RK Henshall Protection & Healthcare Consultant, can talk through your specific circumstances to discuss your options.

Contact Stacey today.

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R.K. Henshall © 2024

R K Henshall & Co Ltd are Independent Intermediaries and are authorised and regulated by the Financial Conduct Authority. Registration Number: 308865. Directors: J.R. Henshall B.A.(Hons) ACII Cert CII (FS), A.J.Simpson ACII, A.Brown FCCA. Written quotations, policy terms, conditions and exclusions are available on request.
Company Secretary: A.Brown FCCA. Registered No. 01285024

R K Henshall are very proud to support Lupus UK. Lupus UK is a charity very close to our hearts. Unfortunately, Nita Davies who had been a stalwart of our company from it’s very beginning lost her battle against this terrible illness in 2013. Lupus UK is the only National Charity which supports people with the immune system illness. (Registered charity nos. 1051610, SC039682) Click here to read more about Lupus UK.