What does 50+ Easy Life Insurance do?

When does my life insurance start?

Your 50+ Easy Life Insurance starts when you apply online. Also, you will only be fully covered after two years as we can only pay the cover in the first two years if you die as a result of an accident.

How long do I make regular payments for?

You will continue to make regular payments to your 50+ Easy Life Insurance until your 90th birthday. From the age of 90 onwards, you will not have to make any more payments. Your cover will however, continue for the rest of your life and your estate will receive your guaranteed amount when you die. Your plan ends if you stop making regular payments before age 90 or if you die and someone makes a claim.

Why is the cost of cover different for men and women?

Because women are more likely to live longer than men, the likelihood is that they will (on average) end up making more monthly payments to their plan and so we charge less each month to try and balance this out. Alternatively, we can offer women more life insurance than a man of their age for the same monthly premium. The actual percentage of extra life insurance depends on your age.

What about claiming?

Our guide to making a claim helps to explain our claims process. We want to make claiming under the plan as straightforward as possible for your loved ones. Because we do not ask you for any medical details or health history when you apply, we do not have to follow up on any of this when you pass and so can process claims quicker. To process the claim, we will need:

• The name and date of birth of the policyholder
• The original death certificate
• A copy of the policyholder's Will if there is one.
• The Policy Schedule
• The name of the person making the claim and evidence of their entitlement to the policy proceeds

It is important that you keep the policy documents safe and let your next of kin know where to find them.

What if I die in the first 2 years?

As we do not ask you to take a medical examination or ask any health questions when you apply, we can only cover you for 'accidental death' within the first two years. If you die in those first 2 years we will pay your estate a full refund of the regular payments you have made, unless you die in an accident, whereby we will pay out your chosen level of cover. If you want to apply for our life insurance products that do not have the 2 year waiting, those involve medicals.

After year two of your 50+ Easy Life Insurance you are fully covered for life insurance as shown in your schedule. There is no cash-in value at any stage – this is not a savings plan.

What is accidental death?

For this plan, 'accidental death' means ‘death caused only and directly as a result of an accident caused by something violent, which can be seen and which is not linked to any other cause'. Some exclusions apply around the nature of the accidental death, for example we will not pay a claim for suicide. These are set out further down.

Are there any situations when a claim would not be paid?

Yes. If you die as a result of your own deliberate act, or as a result of a penalty imposed by a court of law, at any stage during your plan, we will not pay any benefit under 50+ Easy Life Insurance.
During the first two years you are only covered for accidental death. However, some exclusions apply to the accidental death cover during this period;

• If the accidental death is caused directly or indirectly by war, riot, revolution or a similar event.
• If the accidental death is caused directly or indirectly by taking part in a criminal act.
• If the accidental death is caused by an assault on you which is not reported to the police.
• If the accidental death is self-inflicted or caused directly or indirectly by you taking alcohol or drugs.
• If the accidental death is as a result of suicide or self inflicted injury causing death.
• If you fail to follow reasonable medical advice.

Claims would also not be paid if accidental death is caused by you taking part in the following pursuits:

*other than as a fare-paying passenger on a regular public airline

What happens if I change my mind?

We guarantee to pay all your money back if you choose to cancel within 30 days of when you apply online. As long as you continue to pay your monthly premiums, your plan cannot be cancelled by us for any reason.

Who should I talk to if I have any questions or complaints?

Our 50+ Easy Life Insurance is sold on a non-advice basis and so you should seek independent financial advice if you are not comfortable that it is right for you. If would like a full financial review, you should make an appointment with a financial adviser. You can also contact us on Lo-call 1890 92 87 10.