Welcome to the Knowledge Hub 

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What kind of financial decisions should you be considering?

If like me you have joined the over 50s club, you may be considering your retirement; planning for a financially secure future whilst ensuring you have enough money to enjoy life now.

The decisions we make through our 50s, 60s and 70s, before and after retirement are important ones, so its helpful to have clear, unbiased and honest information to guide you on your way.

The knowledge hub has been created to do just that; help you with your research and fine tune your thinking so you can make those important decisions. 

And through the companies we work with, specialists are on hand should you need advice or have any questions you want answered.

Releasing equity from your home - all you need to know

What is equity release?

Equity Release lets you unlock some of the cash tied up in your home; giving you a tax-free cash lump sum to use how you want. Perhaps to pay for home improvements, clear outstanding debts, help family get on the housing ladder or boost your retirement income.

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Is equity release a good idea?

Depending on your needs, Equity release could be a good idea but it’s important to understand how lifetime mortgages work and how it could impact your family. Tight regulation by the FCA and Equity Release Council ensures plans are safe but it’s important to get advice from an expert.

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How much equity can I release from my home?

Depending on your age, you could release a tax-free cash sum of between 20% to 50% of the value of your home; typically the older you are the more you can borrow. For example a 60 year old with property worth £300,000, could release up to £88,500.

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Funeral Planning - Where to start?

Prepaid Funeral Plans - the traditional prepayment option

How much does a funeral cost?

Having continually outstripped inflation, the average cost of a UK funeral in 2018 was £4,271; a huge increase of 122% in just 15 years. If this trend continues, funeral costs in 10 years could be as much as £6,202 or a staggering £9,005 in 20 years time. 

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What is a funeral plan?

A funeral plan lets you arrange and pay for your funeral in advance; removing the financial stress and upset often associated with arranging a funeral from your family. The price you pay is fixed at today’s prices meaning you could potentially save thousands of pounds by avoiding future inflation. 

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How to choose the best funeral plan

Comparing funeral plans is important as not all plans are the same. By using the free independent information we provide, you can ensure your chosen plan is safe and secure, regulated by the Funeral Planning Authority and guarantees the services you require with nothing more to pay.

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Alernative options - on a budget or looking for a more modern approach

The increasingly popular - Direct Cremation

Direct Cremation is cremation without a funeral service, designed for those who want to save money and avoid the fuss and upset of a traditional service at the crematorium. It offers flexibility for families to say goodbye their own way.

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Funeral Insurance - what is it and how does it work?

Funeral Insurance is a term often used to describe Over 50 life insurance; a policy that is frequently used to help with funeral costs, however it can also refer to prepaid funeral plans. Whilst both options help with funeral costs, the way they work is completely different. 

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Over 50 Life Insurance - a tax free cash sum

Over 50 life insurance guarantees to pay out a cash lump sum when you die; a simple and affordable way to leave money for those you care about. The main reason people choose them is to help with funeral costs, however the money can be used however you prefer.

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Insurance for over 50s

Health Insurance - all you need to know

What is health insurance and do I need it?

Private health insurance gives you speedy access to leading consultants and healthcare specialists, medical diagnostics and treatment, private hospitals and drugs that may not be available of the NHS;  getting you back on your feet sooner by giving you control over how, where and by whom you are treated.

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How to choose the best health insurance

Choosing the best health insurance is not just about selecting the cheapest option available, although cost is of course important. It’s also about the quality and level of service included, so understanding how you can tweak your healthcare plan to suit your own personal needs and budget is essential. 

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How to compare leading health insurance providers

Whether you’re looking for cheap medical insurance or a comprehensive plan, there are several ways you can lower the cost of your health cover and save money. Comparing health insurance quotes is quick and easy to do and could save you up to 40% on the price you pay.   

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Life Insurance - all you need to know

Do I need life insurance at my age?

Have you ever stopped to think about the financial and practical impact you not being around would have on your family; that loss of income and support? If so, you would understand how the decision to buy life insurance could be one of the most important decisions you ever make.

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How much does life insurance cost in the UK?

The cost of life insurance in the UK depends on the type and amount of life cover you need; your age and budget. The state of your health and medical history may also affect the cost and level of cover you get, so its important to understand the options available.

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How to choose the best life insurance to suit your needs

To choose the best life insurance it helps to identify why you want it. Do you want to insure your life for a certain number of years or the whole of your life? Will you always require the same amount of life cover or should it reduce over time? 

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More articles

The importance of setting up a Will

There are times when doing things by the book and getting the legal necessaties right maybe imperative - writing a Will is one of those times. 

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Are annuities any good?

Since April 2015 you have more freedom and flexibility with your pension pot, investing in annuity used to be your only option, but now you can do more. 

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The best car insurance deals

Like most of us when your car insurance is due for renewal you will receive a reminder form your current provider, at this point you should shop around for the best deal.    

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How to choose a crematorium

Unless you have had to arrange a funeral you are probably a little in the dark as to what happens and what to expect; this article will help you undertand your choices.

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The main funeral plan providers

When considering a funeral plan you need to be sure the plan you choose is safe and gives you the peace of mind you are looking for. Read more.

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No medical life insurance

If you are or have suffered from a medical condition then this type of cover could suit you, as there are no medical questions or doctors reports needed.  

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Did you find this information helpful?

We work with

First Choice Health
Age Partnership

How this site works

Our aim is to provide you with clear and accurate information to help you research your chosen financial products and services. The material on this site is for general information only and does not constitute any form of advice or recommendation.

If a link has an * by it, it means it is an affiliated link to an insurance company or broker that may result in a payment to the site. Should you use the equity release calculator, speak to an Age Partnership adviser and take out a plan out using their services, we receive a commission, however this will not affect the price you pay.

Also, from time to time you may see advertisements from third party companies who pay us a fee to advertise their services on our site.

None of the above arrangements constitute advice or recommendations, as other products and companies are available. You should always obtain independent, professional advice for your own situation.

The information provided on this site is accurate at the date of publication, occasionally however, things will change before we have had the opportunity to update them, so please do check. Always do your own research and take independent advice.

We do not investigate the solvency of any company mentioned on our website and are not responsible for the content on websites we link to.

Over50choices is an independent company and regulated by the FCA (No.594280) for insurance products only and a member of the Equity Release Council.