2nd July ‘08 - Older People Receive Critical Illness Cover Advice
Posted on Monday, July 07th, 2008 at 9:00amA UK life insurance company has commented that with UK citizens living longer than at any time in history, people should be looking at taking out policies like critical illness cover, decreasing term cover and level term cover with more seriousness than ever before.
Statistics released by the company, Life Trust, show that with an increasing number of British people taking on new debt as they move into their sixtieth decade, life insurance policies like critical illness cover are becoming hugely important to senior citizens.
The life insurance company's chief executive officer commented, "People are living longer, healthier lives. This is great news but only if people have the finances in place to really enjoy their post-career years.
"The combination of rising life expectancy and the impact of inflation over time can have huge financial implications, and this report allows us, for the first time, to see the scale of these trends.
"With more and more people reaching 90 and beyond, and with 90 becoming the new 70 in terms of healthy ageing, it has never been more necessary for the industry and individuals to understand the true cost of modern retirement."
Policies like critical illness cover are much cheaper to elderly people who live healthy lifestyles. To find out more about living a healthy lifestyle go to the Age Concern website.
