Insurance - its not just for travel


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Travel InsuranceWhen you go on holiday there is always a list of things you know you need to take with you. This list is likely to vary considerably depending on where in the world the holiday is going to take you. If you’re heading off to the Mediterranean then it is likely sun cream and shorts will be included, while those heading for a winter break in Alps will be more concerned with taking a big scarf and a thick pair of gloves.

But there is one thing that it always on the list. A holiday essential that no-one should leave the country without. And no, it’s not a passport.

Little thought goes into buying travel insurance usually - it is something that is provided as an optional extra when booking a holiday, and purchasing it is very simple. In a nutshell it is an easy process that is seen as a quick and painless part of booking a holiday, which costs a small amount on top. But it is also a vital part of the process, and something no one should really do without.

The implications of failing to buy travel insurance could be very expensive. The same can be said about car insurance, home insurance  and pet insurance, and people see these as necessities; protecting their personal and valuable belongings against damage and injury for peace of mind.

And 2012 has seen a sharp rise in the amount of over 50s insuring themselves against death with life insurance. While it may not be as obvious to do this as buying other types of insurance products, it is just as valuable. It could save your family thousands of pounds and ensure that you have your own peace of mind when thinking about how those closest to you would manage in the event of your death.

At Shepherds Friendly, the Over 50s Plan can be taken out by anybody between the ages of 50 and 75.

What the policy does is provide a lump sum that is payable to the estate of the deceased in the event of their death, or is passed on to their partners at Golden Chartered Funeral Plans who will use the money to organise the funeral, and will even add an extra £250 worth of benefit in top. Anything left over that is not needed for the funeral will then be added to the estate.

The great thing about this type of insurance is that it is very inexpensive if you want it to be. It costs from as little as £10 per month and the premiums will never go up. They do not use any medical underwriting to determine whether someone qualifies for the insurance, or to define the costs of the premiums either, meaning that everybody gets the same level of cover, no matter what their personal health circumstances are.

At this time when personal finance is the topic of much conversation in the media there is a clear necessity to ensure that you and your family do not receive any nasty financial surprises. And while nothing can compare to the pain of losing a loved one, knowing that once you leave your loved ones behind you will not be a burden financially will give both you and your family peace of mind when you need it most. So if you’re travelling the world remember your travel insurance, but give a thought to the bigger picture as well, and make sure everything back at home is taken care of at the same time.

For more information about the Over 50s Plan visit Shepherds Friendly.

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