Lifestyle, Retirement Pensions & Insurance
If you have ever been labelled grumpy, over the hill or out of touch, you may think these stereotypes of older people are more out of touch than you are. And you’re not alone. A recent study carried out by British Seniors found 71% of people interviewed over 50, said they felt younger than their actual age.
Keeping fit, starting businesses and learning new languages are all high on the agenda as well as finding new love later in life. Getting online is not only for the young. As more of us become computer savvy, it’s also for the young at heart with an estimated 1.3 million over 50s having tried online dating since their milestone birthday.
In fact we are investing in our love lives; on average the over 50s spend £41.11 online dating every month so, it’s not surprising that that six per cent of older people have remarried since turning fifty, proving it’s never too late to find love.
We aren’t just spending on ourselves; the study found that older people in the UK are still supporting their children and grandchildren. An estimated £380 million is spent each month on treating children and a further £262 million on treating grandchildren. Helping family with their day-to-day finances, such as paying off debt, lending money and providing childcare, costs us over 50s, on average, £104.90 each month.
As well as treating our family, grocery shopping, eating out, dating and gym memberships, we also like to indulge in online shopping with many of us spending £36.74 each month online. This amount excludes groceries and clothes.
It’s clear that we still have a supporting role later in life and will want to continue giving to our families so it makes sense to prepare for the future. British Seniors Insurance Agency (BSIA) is the first UK company to offer a Lifetime Payback Guarantee which offers peace of mind and ensures that you get full value for your hard earned money.
British Seniors offer ‘Over 50 Life Insurance with the Lifetime Payback Guarantee’. Unlike other life insurance providers, they guarantee that your cover amount will never be less than the amount you have paid in. So if you live a long life and have paid in more than your cover amount, your loved ones will either get your cover amount or the amount you’ve paid in, whichever is greater. For example if you chose a benefit amount of £5,000 at age 65 and your monthly payments are £30.27, by the age of 79 you will have paid more in premiums than the benefit amount. If you passed away aged 85, your loved ones would receive £7,264.80 instead of the original benefit amount of £5,000. This British Seniors video explains more.
The key product features of British Seniors Life Insurance Over 50s Life Insurance with the Lifetime Payback Guarantee are:
Although we are all feeling younger than our years we still need to plan for the future. British Seniors help ensure that we can live for the day knowing that we can still help our families in the future, it’s great peace of mind.
For more information and a quote visit British Seniors Insurance Agency
This article was produced in partnership with BSIA
