50+ Health Insurance - one of the costs of living longer
If you think that turning 50 is the equivalent of waiting in life's departure lounge, waiting for your final call then you will perhaps appreciate the benefits of paying for private health insurance.
But if you’re of the school of thought that ‘life’s too short’ to hunt out the cheapest private medical insurance quote, then it may be time to think again.
Because while the official life expectancy of a child born today in the UK is between 79 and 83 years, the latest findings by The Office of National Statistics show that we’re actually living six years LONGER still.
The upward trend in life expectancy shows no signs of ceasing either – with figures giving no indication that we’re anywhere near reaching an upper limit.
With healthier lifestyles contributing to an elongation of our years, it seems 40 really is the new 30, and 50 the new 40. So it’s perhaps surprising that despite these marked shifts, it’s still a struggle to find private medical insurance as soon as you tick over from 49 to 50.
50, it seems, is still the cut-off for most health insurers, who are intent – despite the findings above – to write you off as soon as you celebrate your half-century.
And even if you’re lucky enough to find yourself an over 50s Health Insurer that will cover you at 50, you may well find them less obliging when you hit 55 or 60.
Of course, the older you get, the more likely it is that you’ll need some form of medical help somewhere down the line. So while the private health insurance market might shrink at 50, your need for cover increases.
The basic principal of supply and demand leads to an obvious conclusion – higher premiums – but by shopping around and comparing health insurance quotes, you can make significant savings.
Specialist insurers offering Health Insurance for Over 50s are your best bet of finding a great deal. And at QuoteRack, we have a number of these specialists ready to give you a quote today.
Life certainly isn’t too short to shop around – especially when it just takes a couple of minutes to potentially save yourself hundreds of pounds to enjoy in retirement…