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Financial products aimed at over-50s often are poor value
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PostPosted: Mon Jan 19, 2015 12:33 pm 
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Location: Hampshire
Financial products aimed at the over-50s often offer poor value, a consumer group has warned.

Despite the fact specialist cover is frequently seen as a cheaper option, car insurance can cost almost £1,100 a year extra, while home insurance can be up to £364 more.

Research by the consumer group Which? suggests some firms are ripping off older customers rather than giving them preferential treatment for being a low risk. Read more


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Re: Financial products aimed at over-50s often are poor value
PostPosted: Tue Jan 20, 2015 8:31 am 
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Location: Hampshire
Which? analysis of 55 financial products designed for over-50s has found that some are a rip-off compared with alternatives.

Avoid bad deals
We found bad deals in five areas targeted at the over-50s, despite some coming with eye-catching celebrity endorsements and free gifts. Here's what we found:

Over-50s life insurance plans
These plans usually offer poor value with whole-of-life plans often offering a better return. For example, we found premiums of £50 per month resulting in pay-outs varying from only £10,185 up to a more generous £13,999. Whereas some whole-of-life insurance policies cost only £27 per month yet pay out £14,000. You may pay in more than you will ever receive. Read more


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