Compare Over 50 life insurance plans
Comparing Over 50’s Life Insurance such as Royal London, Sun Life & others from £3.90 a month is important; you want to choose the best Over 50 Plan at the right price. But as well as price, because plans differ you want to be sure you choose a plan that suits your needs, which is where we can help.
We show you how Over 50 life insurance plans compare. Plus we have teamed up with Assured Futures, one of the UKs leading life insurance brokers, giving you access to the country’s leading Over 50 Life Insurance Providers.
To see how much Over 50s 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 & Royal London websites and get a quote: please note that Sun Life & Royal London are not part of our price match offer.
Our partner, Assured Futures deal directly with insurance companies to offer you their best rates together with free advice and brokering services.
*You could get up to 40% more cover with a standard whole of life plan compared to an Over 50 Life Insurance plan if you are in good health and happy to answer lifestyle and health questions when you get a quote with our partner Assured Futures by clicking on the "Get a Quote" button.
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The Over 50 plan with no medical
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 by your over 50s life insurance plan 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
- Leave as a gift for grandchildren
The benefits
Guaranteed acceptance – you will be covered by your over 50 plan regardless of any health issues
No medical or health questions to answer – just a straightforward simple application
Affordable monthly payments - starting from £3.90 (£10 a month when you use our comparison service through Assured Futures)
Guaranteed cash sum is paid out when you die – that can be used to help your family financially
Fixed monthly payments that never change – 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 – 80
You choose how much you want pay on a monthly basis or how much cover you need
Get a Quote
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/£300 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 out life inisurance for teh over 50s to help with funeral costs, it is worth looking at 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 from an over 50 plan usually gets paid to your estate so may be subject to inheritance tax
When you get an over 50s life insurance quote you will be able to make a comparison of costs and benefits to help you make the right decision for you.
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How to get the right over 50 plan for you!
Step 1
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 over 50s life cover you need
Step 2
Click on "Get a Quote" to compare life insurance or click on SunLife or Royal London options as these are not part of our price comparison service.
Step 3
Complete your details - please note that they will only be used in connection with your over 50s life quotation
Step 4
Compare the plan features and level of over 50s life cover available
Step 5
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
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Your questions answered
What is the maximum amount of over 50s life 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 or 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; so yes you can in effect get life insurance for over 60 years of age.
Get a Quote
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 over 50s life insurance premiums for before they add up to the same amount as the cash sum paid out on death
For example:
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 an over 50 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 an over 50 life insurance 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 life 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 theover 50s life 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 over 50 life insurance 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 Royal London, Sun Life & LV.
The process is quick and straightforward. By answering a few simple questions, you will be provided with a range of over 50 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.
Want to listen to our podcast?
In addition to reading about how a plan could benefit you, why not listen to our 5 minute podcast; it could help you make more sense of your options
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Who are we?
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.
We compare these leading Over 50s Life Insurance Providers:
- 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
- One Family Over 50s Life Cover
- Royal London Over 50s life insurance
- Sun Life Over 50 Plan
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