Life Insurance -
Age Concern raises benefits alarm - 25/10/2007
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Many elderly people are suffering by refusing to claim benefits, charity Age Concern has said.
What's more, simple embarrassment among pensioners might be to blame, according to a spokesperson.
Elderly people in the UK are entitled to council tax benefit, housing benefit and tendance allowance.
Those who suffer from severe illness can also gain life insurance payouts through critical illness policies.
What's more, the preponderance of recent advertisements for over-50 life insurance products from the Post Office, among other providers, also points to the fact that elderly people are willing to seek out non-governmental financial products.
According to the Office of National Statistics, as many as 88 per cent of Britons are not aware of pension credits, one of the major forms of state financial recompense on offer to the elderly.
Spokesperson for Age Concern Helen Spinney commented: "There is a real problem around claiming pension credits. Around a third of older people entitled to pension credit are not claiming it - and that's for a number of reasons; some people may not have heard anything about it, some people may have heard about it but assume they're not entitled to the extra money.
"Other people may simply feel embarrassed about claiming. So, there are a whole number of reasons why people don't claim the benefits, and certainly lack of information is one of them."
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 Life insurance guide. Most life policies have optional extras, which include the following. A waiver of premium...
Life Insurance. What is Life Assurance/Insurance? What types of life assurance are there? What is critical illness...
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