Over 50 Choices
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Over 50 Choices Our aim is to provide jargon free information to help you make an informed decision that suits your individual needs. As the name suggests we specialise in helping Over 50s take control of their personal finances; providing information, guides and comparisons on a range of insurance products, home energy, retirement services and funeral planning options.

Quite simply we give you choices - a one stop shop for all your fifty plus planning needs. Whether you want to put plans in place with writing a will, prepaid funeral plans, direct cremation funeral or over 50 life insurance; are looking to compare car insurance or health insurance, or looking to make your retirement more comfortable by choosing the right annuity or equity release scheme.

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Highlights

read more › We offer a wide range of personal finance products and utility services. Quite simply we give you 'choices'! We are Independent, meaning that we are not owned by any corporate companies and offer products and services we believe can help make a difference. In addition to our range of insurance, energy and financial products, we focus significantly on funeral planning; a subject we believe is of great importance. We appreciate that although death is the one thing we all have in common; it is not a subject we like to talk about.

read more › Funeral Planning is so much more than just arranging a funeral. It's more than choosing hymns or organising flowers. What will happen to your house, your possessions, your cat or dog; who will pay your bills? Wouldn't it be better if you made all the decisions beforehand and set aside the money to pay for it all? Wouldn't it be great to know that when the time comes you have taken care of everything and that your family has one less thing to worry about? A growing number of Over 50s are realising the value of putting plans in place in advance and making funeral planning part of their every day financial planning arrangements.

read more › Going through the process of arranging a funeral can seem daunting; so many things to think about and arrange whilst at the same time trying to come to terms with the loss of someone you care about. That's why putting plans in place in advance and arranging your own funeral is one of the kindest things you can do. You get to have your say in how you are remembered, relieving your family from the additional pressure of having to make funeral arrangements when the time comes. The good thing is that regardless of whether you are arranging a funeral for yourself or for someone you have recently lost, there is a wealth information and support available to you so you don't have to feel as though you are facing the unknown on your own.

read more › This may sound odd but why not make a funeral more personal? We live interesting and varied lives, each with different hobbies, views, likes and dislikes. So how come when it comes to funerals, the majority of people still fall in line with tradition and have a funeral service that doesn't bare any resemblance to the life the person lived? Things are starting to change and it's about time. There is so much choice out there for funeral music, poems, transport, flowers, even coffins. Just think how poignant the service would be if the music played really meant something.

read more › To help you choose which plan may be right for you, use our best buy table to quickly and easily compare over 50s life cover and get quick quotes from all the leading insurers. For your protection, we only compare companies who are authorised and regulated by the Financial Conduct Authority, all of whom guarantee to accept anyone aged between 50 and 80, without the need for a medical. Prices start from just 3.70 a month, and some plans also come with a free gift, although you should not let this sway your decision in any way.

read more › Direct cremation is a simple cremation without a funeral service. A dignified, fuss free, unattended cremation at the crematorium that's typically 60% cheaper than the average funeral service. Once the body has been cremated, the ashes are returned to family or scattered at the crematoriums garden of remembrance. Direct Cremation or direct funeral as it is also known is a simple, low cost alternative to a traditional funeral, suitable for those looking to save money and avoid the upset of funeral service.

read more › A funeral plan is a way you can pre-pay and pre-plan your funeral. Choosing a funeral plan to pay and arrange your funeral in advance can make life easier for family and save money by avoiding inflation because pay for the funeral service you want at today's prices. A funeral plan works by letting you make your own funeral arrangements, rather than leaving family to arrange everything. With either a single payment or monthly instalments, your funeral plan secures the services of a local funeral director, who when ready will take care of everything as detailed in your plan.

read more › Want to increase your pension income or make life a little easier by releasing cash from your home? If you are Over 50 and looking to manage your finances, perhaps in readiness for retirement then, it's worth taking a look at the different options on offer. There are several products designed specifically for the Over 50's that can really make your money go further and get the best return possible. For example, did you know that when you use your pension fund to buy an annuity, you could get an enhanced income for the rest of your life?

read more › Equity release, or Lifetime Mortgage is a tax free way to unlock some of the cash tied up in your home if you're over the age of 55. The money can be released in one go, or in smaller amounts as required. It can be used for home or garden improvements, to pay off existing debts or mortgages, for holidays, to help family get a foot on the housing ladder or to improve retirement funds by supplementing their pension pot. The 'equity' in your home is the difference between its value and any outstanding loans secured against it, such as a mortgage.

read more › The best savings accounts for over 50s should be covered by the Financial Services Compensation Scheme, offer the best interest rates and flexibility to access your money when you want. However, with so many options to choose from, are over 50s savings accounts really the best option for your money? Over 50s and over 60s savings accounts may feel like the obvious answer when looking for the best savings accounts however this may not be true as savings account designed for any age frequently offer better rates of interest.

read more › Mortgages for over 50s are widely available however the older you get, the more difficult it becomes. Lenders set their own age limits which could rule out some older borrowers however there are companies that specialise in mortgages for over 50s, over 60s and even over 70 year olds. The following information explains the type of mortgages available, specialist mortgages for over 50s and 55 year olds and how to improve your chances of being accepted. Lenders have their own rules on mortgages for older borrowers.

read more › It's fair to say that unless you are in the industry, most of us know very little about annuities, so it's quite understandable that when it comes to thinking about retiring, choosing an annuity can seem like a daunting task. Quite simply an annuity is the name given to the insurance plan that your pension and / or savings are paid into, giving you a guaranteed income for life. Over the years you may have paid into several pension plans, so it's important to track them all down. If you are unsure as to whether you have any 'old' pensions from previous employers or pension companies, you can find out by using the Pension Tracing Service a free service provided by the government.

read more › When you have worked hard all of your life, saving the money you will need for use in your retirement, your pension is a critical consideration - its value and the way you choose to use the savings are likely to determine just what kind of life you are able to enjoy once you have retired. Determining how much state pension you might receive after retirement is difficult, but you can get a State Pension Statement which shows how many qualifying years you have paid in National Insurance contributions and a forecast of how much you are likely to get.

read more › As you approach retirement your pension pot suddenly becomes more important as beyond retirement the likely hood is that your income will be less than it is today. The pension income generated by your pension pot will be determined by the performance of the annuity or fund where your money is invested, which means that you have choices on where to place what is probably one of the most important financial decisions you will make. What you probably won't know at this stage is what pension income your pot will provide you; if you purchase an annuity the pension forecast will depend on your age, the size of your pension pot and your health, see examples below.

read more › The Money Advice Service suggests that your retirement might last for longer than 30 years - an appreciable length of time to be doing that living. But they are years when your income is likely to be considerably less than when you were at work, so careful financial planning needs to be done to stretch out you funds for as long as possible. But that careful financial planning is not simply a question of being overly frugal - you need to live life too. Living that full and satisfying life involves many different aspects and lifestyle choices, so it might be helpful to cast an eye over some of the main issues and decisions you are likely to face.

read more › Inheritance tax, commonly referred to as death tax is a 40% tax payable on the assets of a person who has died, including their cash, investments, property, vehicles and life insurance payouts. The inheritance tax threshold applies to assets over 325,000 so anything left below this threshold is tax free. Our inheritance tax guide will help you understand all you need to know about IHT, whether it could affect you and your family and if so, what you need to do to help avoid or at least minimize the risk.

read more › Writing a will ensures your money, property and possessions go to those you care about, yet 60% of UK adults still don't have one. If you die without making a will, your estate is divided according to the government's intestacy rules, which may not be in line with your wishes. A Will is a legal document that states what should happen to your money, possessions and property when you die. In addition to naming the executor and setting out how your estate should be distributed; a will can also confirm who should be appointed legal guardian for children under 18.

read more › Probate is the process of administering someone's estate once they have died. This includes applying for either a grant of probate or letters of administration; gathering the deceased's money, assets and possessions, paying off any taxes or debts and distributing the remaining estate to the beneficiaries. To understand how probate works when someone dies, you need to establish whether a will is in place or not. If the deceased has left a will, the named executor, typically someone they trust such as a relative, friend, solicitor or specialist probate service provider will be responsible for applying for a 'grant of probate' which basically gives them authority to administer the deceased's estate according to the will.

read more › Power of attorney is someone you appoint to manage your affairs on your behalf if you're no longer able to or prefer not to do it yourself. Depending on your requirements, there are several types of power of attorney to choose from including ordinary, enduring and lasting power of attorney. Power of attorney is a legal document giving someone you trust legal authority to make financial or welfare decisions should you become too unwell to do so yourself, perhaps as a result of dementia, a stroke or serious accident.

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