Read - Review - Compare - Buy
How it works
Comparing Over 50’s Life Insurance is important as you want to be sure of choosing the best Over 50 Plan at the right price.
We have teamed up with Family Insurance Services who are one of the UKs leading life insurance brokers, giving you access to the country’s leading Life Insurance Providers.
To see how much life cover you could get, just click the ‘get a quote ’button, answer a few questions and we’ll do the rest.
Or you can click on the "click here" text in the table and go directly to the Sun Life website and get a quote: please note that Sun Life are not part of our price match offer.
A guaranteed over 50 plan is a whole of life insurance plan that pays out a cash sum when you die. Acceptance is guaranteed with no medicals or health questionnaires to complete; quite simply you will be covered regardless of any health issues you may have, as long as you are between the ages of 50 and 85*.
The over 50 guaranteed life insurance plan is an affordable way to leave money to those you care about, giving them the flexibility to use it in a way that suits them:
- Help with funeral costs
- Pay off outstanding debts or bills
- Use as a treat or to buy something to remember you by
Guaranteed acceptance – you will be covered regardless of any health issues
No medical or health questions to answer – just a straightforward simple application
Affordable monthly payments - starting from £10
Guaranteed cash sum when you die – that can be used to help your family financially
Fixed monthly payments – can help with budgeting
Full life cover after an initial period of 1 or 2 years* – if you die within this period the money paid in will be refunded
Available to anyone in the UK between the ages of 50 – 85*
Funeral Benefit Option
Most over 50 life insurance plans now offer a funeral benefit option. They vary slightly but typically, instead of having the money paid to your estate when you die, you can agree for it to be paid directly to a specified funeral director to help pay towards the cost of the funeral. The option is usually free and in return you get additional life insurance cover.
You will either receive an additional £250 towards your funeral costs or 10% of the cash sum towards your funeral directors fees when the time comes.
If you are thinking about taking one of these plans out to help with funeral costs, it is worth looking at this option but keep in mind that you have to go with that funeral provider in order to get the additional life cover.
Things to consider
If you were to die during the initial 1 or 2 year period*, you would not be covered for the full cash sum however your monthly premiums would be refunded
Premiums are payable for life or until your 90th birthday*
Depending on how long you live, there is a chance you could pay in more than the plan pays out
The amount of money paid out when you die is fixed so inflation will reduce its value over time
If you cancel or stop paying your premiums, you won’t get any money back.
The money usually gets paid to your estate so may be subject to inheritance tax
When you get a quote you will be able to make a comparison of costs and benefits to help you make the right decision for you.
How to get the right plan for you!
Read the information in our 'benefits' section to ensure you are happy with the plan details and decide on your monthly budget or how much cover you need
Click on "Get a Quote" to compare life insurance
Complete your details - please note that they will only be used in connection with your over 50s life quotation
Compare the plan features and level of life cover available
Click on the "Buy Now" or "More Details" button when you are ready to proceed
Alternatively you can call the UK based team on the free phone number if you would like advice
Could you get at least 40% extra cover?
Are you in good health?
Happy to answer health and lifestyle questions?
If you are in good health and happy to answer a few questions that include health and lifestyle questions, then you could get at least 40% more life cover for your money with a regular whole of life insurance plan.
Take a look at the differences in cash sums between the guaranteed over 50 plan and regular life insurance based on a non smoker paying £10 a month. It doesn't matter whether you are over 50, 55, 60, 65 or 70; regular whole of life insurance offers a greater level of protection:
These whole of life insurance plans work in a similar way to guaranteed over 50 plans; you pay a fixed monthly amount in return for an agreed cash sum when you die, however the application process is longer and there is a chance you could be turned down; which is a key difference between the 2 plans.
If you are accepted, cover is immediate and the cash sum could be much greater so it could be worth considering and at least comparing the two types of life cover.
Getting a quote is simple, just click on the "Get a Quote" button, enter your details and you will receive a range of quotes for the guaranteed plan option: shortly afterwards the friendly team at Family Insurance Services will call you and ask you a few questions to see if you qualify for the extra life cover.
You can then decide on the best option and either apply or ask for a brochure.
To save you time, we have reviewed the leading over 50 life insurance plans highlighting the features and benefits of each, additional options you may wish to include and things to consider before going ahead.
Our tables show at a glance the main features you should expect and our individual company reviews give you a more detailed insight into each plan.
At a glance summary
Guaranteed Over 50s Life Insurance Reviews
Here are our market leading guaranteed over 50 plan reviews. To review, get a quote and compare features and prices simply click on your chosen provider.
LV 50 Plus Plan Review
Engage Mutual Over 50s Life Cover Plus Review
AXA Sun Life Guaranteed Over 50 Plan Review
Saga Guaranteed Life Insurance Review
Legal & General Over 50 Life Insurance Review
Ageas Over 50s Life Plan Review
Shepherds Friendly Over 50s Life Plan
Aviva Guaranteed Lifelong Protection Plan
Regular Whole of Life Insurance Reviews
Legal & General Whole of Life Protection Plan
LV Lifetime Plan
Zurich Adaptable Life Plan with Guaranteed Payments
PruProtect Essentials Plan
Your questions answered
What is the maximum amount of cover I can have?
This will depend on the plan provider and so will vary, but typically you can get up to £25,000
Can I have a joint over 50 life cover plan?
No. You can only take a plan out in a single name, so if your partner.spouse would like cover aswell, they will need to take out a separate plan
Are guaranteed Over 50 plans value for money?
This is insurance and like all other insurance plans, they are there to protect us and give us peace of mind. Year after year we pay out hundreds of pounds on insurance. Car, home, mobile phone, travel, health, the list is endless. We dutifully pay our monthly fees, often paying in far more than we will ever claim.
Over 50 plans are no different.
The longer you live, the more you pay so you could end up paying in more than the plan pays out. There is one difference with these insurance policies though and that’s the fact that when you die, as long as it’s after the initial one or two year period, they are guaranteed to pay out.
Can I get Over 60s life insurance?
It doesn’t matter whether you are Over 60, Over 70 or in some cases even over 80 (depending on the 50 plus insurance provider), you are guaranteed to be accepted for Over 50s Life Cover as long as you are between the ages of 50 and 85
Will I pay more in premiums than the plan pays out?
If you are pondering over whether you think an Over 50 Plan is the right choice for you, it’s probably worth doing the maths. The good thing is that because the amount you pay on a monthly basis and the amount paid out on death stays the same, it’s easy to work out. You just need to look at how many months you will pay your premiums for before they add up to the same amount as the cash sum paid out on death
You agree to pay £12 per month for £2,000 of cover (this level of cover is just an example and will depend on your age) £2000 divided by £12 = 167: After 167 months, you would start to pay in more than the money paid out (i.e. the £2,000) 167 divided by 12months = 14: If you die within 14 years of taking the policy out, the money paid out when you die will be higher than the amount of money you have paid in.
If you live for longer than 14 years, you will pay more than the plan will pay out
Which is the best Over 50 life insurance plan?
This really does depend on your personal circumstances and what is important to you. Essentially one of the main points will be the level of cover provided which is why it is important to compare over 50 life insurance quotes.
Then consider which features are important to you. For example, is it important that your over 50 plan provides life cover after 12 months or are you comfortable waiting for 2 years? Are you looking to include the funeral benefit option? Would you prefer a plan that pays out if you are diagnosed with a terminal illness?
To help you decide, why not take a look at our Reviews section which provides a comparison of the UK’s leading plans in addition to a more detailed insight into what each has to offer.
Can I cancel the plan?
All Over 50 Insurance providers will have a cancellation policy allowing you to cancel and get any premiums paid refunded within certain period, typically the first 30 days. After this period you will still be able to cancel however you would not get any money back and the cover would end.
Why do over 50 life insurance quotes vary so much?
Over 50 life insurance quotes vary depending on your age, the amount you want to pay on a monthly basis and in some cases whether you smoke. You will also notice the cash sum available will vary by company so it is important to compare quotes from a range of providers before making your decision.
Is it worth considering the cheapest over 50 life insurance plan?
It is important that you choose an over 50 life insurance plan that is right for you, based on your personal requirements. Whilst the cheapest over 50 plan may tick the box in terms of low monthly premium, you need to be comfortable that the level of cover provided is suitable too.
By taking time to compare over 50 life insurance quotes, you’ll see at a glance the cash sum you could get based on the amount you want to pay on a monthly basis.
Who offers the best over 50 life insurance plan?
There are a number of companies that give you the opportunity to compare over 50 life insurance quotes from leading providers, Go Compare, Moneysupermarket, ComparetheMarket and of course this site - you can also go direct to the likes of Sun Life & LV.
The process is quick and straightforward. By answering a few simple questions, you will be provided with a range of life insurance quotes in minutes, saving you the time consuming task of searching the market yourself.
Where can I get advice?
To talk through your options or to get advice simply call the Over50choices team on 0845 145 0070
Can an over 50 plan help with funeral costs?
Many people buy over 50 plans to help with paying funeral costs. By agreeing to pay a fixed premium on a monthly basis, a cash sum will be paid out when you die that your family can use to help with funeral costs.
In addition, most plan providers offer a free funeral benefit option which provides additional free cover if you agree for the cash sum to be paid directly to a specified funeral director. When the time comes, they will provide the funeral services using the proceeds from your life cover to help cover the funeral costs.
Why do some companies offer over 50s life insurance with free gifts?
A number of companies offer over 50 plans with a free gift to thank you for choosing their plan however it is important that your decision to buy is based on the life cover provided and not swayed by any free gift that may be on offer.
We specialise in personal finance for the over 50s and are experts in over 50 life insurance & funeral planning. With over 50 years financial services experience our aim is to make your life easier and to help you make better decisions. Our company is authorised and regulated by the Financial Conduct Authority.
LV 50 Plus Insurance Plan
Shepherds Friendly Over 50’s Life Cover
Aviva Over 50s Guaranteed Lifelong Protection
Ageas Over 50s Life Plan
Zurich Over 50 Life Insurance
Legal & General Over 50 Life Insurance
Engage Mutual Over 50s Life Cover
Over50choices Ltd (Reg No. 8411985) 27 Horsewhim Drive Kelly Bray Cornwall PL17 8GL. Authorised & regulated by the Financial Conduct Authority (FCA 594280).