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Beware of thinking that over 50 life insurance would be the best deal for you, especially if you're under 50.

I read the small print in the advertising for one over 50 life insurance company, can't mention the name, and it said you may get less out than you paid in. My thoughts on that were that it would make more sense to put an equivalent amount in a savings account, even with a low rate of interest, you should at least get the amount back that you put in. Unless, of course the bank goes bust as has happened or almost happened recently . It just goes to show how vital it is to read the small print in anything before you commit to it. Companies want your custom, obviously, so they get your attention with slogans such as ' best deals for the over 50's', 'over 50 life insurance cheaper than elsewhere'. What they don't shout about is the stuff in the small print.

As with any product, if you sign an over 50 life insurance in your own home, you have fourteen days to cancel. Interestingly, I only found this out recently but it's worth bearing in mind, if you sign in their office, the contract is immediately binding and you have no 'cooling off period'.

Sometimes it may be worth asking family and friends about their experiences with any type of insurance company. Also use the price comparison sites and check carefully for other types of insurance and compare them to the over 50 insurance you may have been considering.

There's some pondering needs doing here too. Do the companies offering over 50 life insurance think that people over 50 stay at home and don't do anything risky? If they do, it's a very outdated way of thinking. After all there have been news reports of 80 year old grandmothers sky diving or parachuting for the first time on their eightieth birthday. We are no longer old at 50, life has changed a lot since our great grandparents day. At that time you were lucky to live to 50 and so had no need for over 50 life insurance. I only hope the companies offering over 50 life insurance realise that.

Over 50's now have busy lives to lead, some, like me, have regained their freedom as the children have left home. Some, like my friend, still have teenage children at home. So if you're looking for any type of life insurance, don't restrict your choice because of your age.