A little extra for the over 50s
Tuesday, November 8, 2016
Our 50+ Life Cover offers an affordable way to leave your loved ones a guaranteed lump sum, plus there is more to being a Foresters member, with extra benefits like Foresters Care and discretionary grants available for you.
Our recent survey of Foresters Friendly Society members found that 67% of respondents had life insurance. That’s great news! However, when we asked the 33% without life insurance why they didn’t have a policy, some thought they were too ill or too old to apply. Well here's the good news – Foresters Friendly Society’s 50+ Life Cover guarantees cover, without the need for a medical and is available to UK residents aged 50 – 80 years old.
Our life cover
Our 50+ Life Cover policy gives you an easy and affordable way to leave your loved ones a guaranteed lump sum. Cover starts from just 33p a day, it’s easy to apply online or by post and your lump sum has the potential to increase through the addition of annual bonuses and a possible final bonus. The addition of bonuses is not guaranteed.
Having a plan such as this can give you peace of mind for the future. We all know that there will come a time when we can no longer be there for the ones we love, but life cover can make sure that there is some money set aside for when they need it most. It can go towards the cost of your funeral or act as a cash gift for someone special.
What’s more, great cover isn’t the only thing on offer. When you become a Foresters member, you become eligible for extra benefits at no additional cost.
Our care service, provided by RedArc, offers practical and emotional aid for the tough times.
With our care service, your Personal Nurse Adviser (PNA) will provide information and support over the phone for as long as you need it. This includes helping you understand conditions, explaining treatment options, assisting with preparation for consultants’ appointments, and even help finding suitable medical aids and equipment. It could also include advice on getting a second opinion, after-hospital care and access to a range of integrated services – such as a course of therapy or details of local support groups. The service also provides help for people coping with bereavement or mental health issues, as well as elder-age care.
Mrs M lost her husband to cancer last year and struggled to come to terms with his death. Mrs M’s PNA allowed her to express her sadness freely, something she had felt unable to do with her family. The nurse and Mrs M identified that a course of bereavement counselling would be of benefit, and it was quickly arranged at no charge.
“I felt that someone genuinely cared during a really desperate time. I was offered gentle strength and motivation when I was feeling lost and alone.” - Mrs M
The help you need, when you need it most
Our member benefits package includes discretionary financial assistance for help with all sorts of expenses, such as:
- Higher education – to help cover the cost of books, travel expenses or other items
- Convalescence – to help members recuperate after illness
- General hardship – for example when members are affected by floods, or are facing illness
- Financial support for children – who have lost a parent, are incapacitated or have special needs
We also provide healthcare assistance which offers a minimum grant of £25 per year towards optical, dental and other health-related costs.
In 2015, we paid out over £1million back to our members in the form of dental and optical grants, discretionary benefits and charitable donations.
Mrs H received a discretionary grant in 2015, after she sadly suffered a stroke and lost the use of her legs. Mrs H used the grant to help towards the cost of her new wheelchair, which has allowed her to regain her independence.
“We are so grateful for this generous donation. Mum can now sit in comfort and is looking forward to getting out into the garden.” - Mrs H’s daughter
- This blog is intended to provide information, not financial advice, to help you make an informed decision. We do not offer financial advice. If you want financial advice you should contact a financial adviser, who may charge a fee.
- The 50+ Life Cover policy is not a savings or funeral plan - there is no guarantee that the amount received would cover the costs of a funeral. The cash sum that is paid out may not cover what you intended for it. This is because the price of things can change over time and inflation will reduce what can be bought with the lump sum.
- Premiums must be paid until you reach age 85, when you will stop paying premiums but your life cover will continue.
- Depending on how long you live, the total amount you pay in may be more than the amount payable on your death
- Because you don't need a medical to take out our 50+ Life Cover policy, if you die within the first two years of the policy, the cash sum paid out will be limited to returning the premiums you have paid, except in the case of accidental death, where we pay the full lump sum.
- Membership benefits are discretionary and are not regulated by the Financial Conduct Authority and the Prudential Regulation Authority and are regularly reviewed by us to ensure they are relevant to our members.