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Over 50s life insurance is aimed at anyone between the ages of 50 and 80, who needs cover to pay for funeral expenses, or leave a gift to their loved ones.

Over 50s insurance is competitively priced – policies start at as little as £10 a month. There are often no medical questions during the application – you just need to be over 50 to get cover, making this ideal for anyone with pre-existing conditions or a more complex medical history.

Over 50s life insurance is a whole of life type insurance policy – as long as you make your payments, your loved ones are guaranteed to receive a payout. Many providers won’t ask you to pay your premiums after the age of 90 – meaning that you’ll have life cover for free once you reach a certain age.

Over 50s Life Insurance FAQs

Over 50s life insurance is a type of whole of life insurance policy specifically designed for people over the age of 50. There are no medical questions so anyone over 50 and under 80 will be accepted on the plan. As such, this is often a more suitable type of policy for those who have more complex medical histories or who simply choose not to answer medical questions. An over 50s live insurance policy runs from you take out the policy till you pass away, as long as you make all your monthly payments are on time, your beneficiaries will receive a payment in a lump sum.

Over 50s life insurance and a term life insurance policies have some key differences. Over 50s life insurance has a guaranteed pay out as long as you maintain the premiums, no matter what age you pass away. Conversely, with term assurance you are covered for a defined period of time, for example, you may want cover for the duration of a mortgage. With Over 50s insurance, if you live past the age of 90, you no longer need to pay your premiums but the policy will still pay out.

No, there are no requirements for a medical or acceptance when taking out an over 50s insurance policy. With most providers, full cover is payable two years after taking out the policy.

The cost of over 50s life insurance starts at £10 per month*, this will depend on your age and the amount of cover you need. Like with any insurance product, the higher your monthly premium the more your beneficiaries will receive in a lump sum when you pass away.

Most Over 50s life insurance policies will pay out a maximum of £10,000. This is because these policies are usually used to pay for funeral expenses or leave a gift to family members.

The main difference is that Over 50s life insurance is specifically tailored to older customers, in terms of having no medical questions and comparatively cheaper monthly premiums.

The other difference is that most providers will only pay out in full if you die after the first 2 years of having the policy. If you die before then, they’ll pay back the premiums you have already paid.

Other types of protection

There are several types of protection to consider, which all have different benefits. Our qualified protection advisors will be able to tell you what's best for you.

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