Over 50 Life Insurance terminology W. What is a Will and how does it effect me?

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    Over 50 Life Insurance Terminology - W

    Will
    Legal documentation containing a set of instructions of what to do with a persons estate after they have died.
    If you do not have a will in place at the time of your death your are know to have died ‘Intestate’ which means that the government will then decide what happens to your estate.
    This is a separate product from an
    Over 50 Life Insurance policy and it is recommended by may independent financial advisors that you have a will in place even if you do not have any life insurance.


    Waiver Of Premium
    This is sometimes offered as an optional extra by the insurance provider which then means that they will cover your monthly premiums should you have difficulty paying them due to sickness or redundancy but the conditions vary from each provider so please make sure to carefully read all your policy documents to find out exactly which scenarios are covered.




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