How Over 50’s Life Insurance Works

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Life insurance can give your family financial security if you die. If you’re over 50 you can still get life insurance, but choosing the right policy could save you money and better protect your family. Here we explain life insurance for the over 50s.


An Over 50s life plan is a simple life cover plan especially suited to people aged over 50, that pays out a guaranteed lump sum when the plan holder dies.

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What are the life insurance over 50 options?

Over 50s can buy standard life insurance although the older you are, the more it will cost. Standard life insurance normally lasts for a set period of time – around 10 years or until retirement.

For most people a standard life insurance policy will be better value than a special over 50s life insurance policy.

Would I be suitable for an over 50’s plan?

Over 50s life insurance plans normally don’t have any medical checks and as a result could be good for someone who has a poor medical history.

Over 50 policies normally last for life and pay out a lump sum in the event of death, but there is normally an initial qualifying period of 2 years during which the death benefit will not be payable.

As the premiums are payable for life, and this period is unknown, you may pay premiums in excess of the death benefit. A standard life insurance policy will probably offer better value if you are over 50 but in good health.

What are the main features?

General over 50s plan offers:

  • Cover that provides a guaranteed fixed cash sum – you can decide how much you want your family to receive.
  • Premiums that are guaranteed never to rise; Once you have decided on how much to pay into your new plan each month, we promise that these premiums will never increase.
  • Option to receive an extra £250 of funeral benefits. You can choose to nominate your final payout to Golden Charter, the UK’s leading independent funeral plan provider. They will not only take care of all funeral arrangements but will also contribute an extra £250 towards the cost.
  • Quick and easy application process: Our online application process is easy to use and can be completed in minutes.

How do I buy over 50 life insurance?

Whether you want an over-50s life insurance policy or just standard life insurance, it’s important that you review policies but also that you utilise a whole of market search facility via online or via an industry approved broker. If you are over 50, make sure that the amount of cover you get reflects the fact that you have probably paid off your mortgage and have fewer debts.

Remember that if you don’t have dependants then you probably don’t need a life insurance policy. Before buying over 50 life insurance, you should check what life insurance cover you already have with your mortgage or employment.

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**Content curated source can be located here: U Switch

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