AXA Sun Life – Guaranteed Over 50 Plan

AXA Sun Life plc is an insurer based in United Kingdom. The company also trades as Sun Life Direct and is the distributor of Guaranteed Over 50 Plan. AXA Sun Life is authorized and regulated by the Financial Services Authority. Usually we don’t care to think much about old age, funerals and stuff till the time we reach 50. And when that day arrives, when people start treating you like a senior citizen, then you know for sure the time has come for you to take that all important decision in your life about life insurance.

Some of us would be so hasty in taking that decision that without giving it much of a thought we would land up in the office of some B grade insurance company and after a few months we would be cursing ourselves for that decision of ours. And still there will be those who would be so confused as to what to do that they may not make a decision at all. Both these states can be costly in the end.

Guaranteed Over 50 Plan of AXA Sun Life

has simplified life for thousands and thousands of its customers. This plan meets the demands and needs of those who want their insurance to provide a cash sum on death. This money can then be used for funeral expenditure or any outstanding debts or just to help your family cope up with difficult times.

The eligibility criterion is as simple as the name of policy itself. You just got be in between the age of 50 and 85 and that would be enough to buy the policy. Off course we are assuming here that you are a resident of UK. The good thing about this plan is that your acceptance is guaranteed. No medicals required. After two years of maturation a fixed amount of cash is paid out on your death. If one were to die during the first two years, 11/2 times the premiums paid will be payable. However if the death occurs as a result of travel accident or within 90 days of attaining an accidental injury, the company will pay three times the fixed cash sum.

Now there are a few limitations to the Sun Life Direct insurance plan. The maximum initial life cover you can receive from the Guaranteed Over 50 Plan is twenty thousand pounds in total but this is excluding the travel accident benefit mentioned earlier. Inflation will also play its part and thus the value of cash sum paid will be generally reduced. Moreover the plan has no cash-in value at any time and depending on how long you live, the total premiums paid may be greater than the amount payable on your death.

Overall AXA Sun Life Insurance is a good choice for people reaching their far end. However it is not advised that you miss any of the premiums as the company gives a grace period of only 30 days, after which you’ll be paid nothing. So it’s high time now for all the old timers to pull up their socks and make a plan for their own and their family’s future.