The Post Office has announced it's entry into the life insurance market with a new Over 50s Life Cover policy.

Available now, the over 50s plan is provided by Norwich Union and extends the Post Office's current range of insurance products with the aim of offering affordable cover to people who want to avoid leaving funeral costs or debts to their family.

Like many other over 50 plans, acceptance is guaranteed for all applicants with only three questions required to receive a quote. Unlike traditional life insurance, ther are no medical questions or checks needed.

Customers can choose how much cover they want with premiums starting at just £7 a month up to a maximum of £50. Post Office life insurance offers higher levels of cover than some of the current market leaders and will pay out the full sum assured after just 12 months.

Any self respecting over 50s plan wouldn't be complete without a free gift and the Post Office plan is no different with a choice of a Freeview box, digital camera or box of wine after the third monthly payment has been received.

Director of insurance at the Post Office, Phil Ashkuri said... "This is the first of a suite of products the Post Office is launching into the life insurance market. Our Over 50s cover is easy to understand and apply for, with guaranteed acceptance. We also offer our customers more comprehensive cover than some of the leading plans on the market by paying out the full sum assured after just 12 months."

To apply customers simply need to visit any Post Office branch, call 0800 096 5597 or visit the Post Office life cover website.