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Saga is well known for catering to the older generation, and offers a range of products exclusively to the over 50’s. This includes holiday packages, money
services, and even a monthly magazine.
In addition to this they also provide life insurance. Please note: at this moment in time they have currently paused their offerings on Life Insurance.
Saga offers two types of life insurance with various options to create a tailor-made policy for you.
Your lump sum payout is protected over the course of the policy period, and remains the same throughout. If the policy-holder has purchased a £30,000 life insurance policy, it will payout that £30,000 even at the end. This is in contrast to Decreasing Term Cover.
This option means that the lump-sum awarded to your beneficiaries or estate will lessen across the policy period. When the policy holder has some kind of repayment loan that also reduces in time, this is a useful option since it will tend to provide cheaper monthly premiums. If you have bought £300,000 of protection, this will come to be zero on policy expiry.
There might be a time when you are diagnosed with an illness that does not
result in your death, but can still affect you and your family in a difficult
way. That stress will only be compounded if you find yourself unable to work or
earn a living. This is where the option of adding Critical Illness Cover could
come in useful. For an additional premium you can add this coverage to your life
insurance policy so that you are covered in death, upon diagnosis of a terminal
illness, and also upon diagnosis of a critical illness. The definition of
“Critical Illness” will be determined by your policy wording, but will include
at least heart attacks, stroke or cancer.
Waiver of Premium Cover: if you find yourself in a position where you are
unable to work, this cover will subsidise any premium owed if you become too ill
or incapacitated due to sickness or injury to carry out your normal occupation.
This is available for an additional premium.
We compare plans from the leading life insurance providers
N.B. Policyholders must reside in England, Wales, Scotland or Northern Ireland
(not including the Isle of Man or the Channel Islands)