Compare over 50s life insurance

  • An affordable way to help with funeral costs from just 86p per week
  • Compare the best over 50s life insurance plans
  • Get as many quick, no-obligation quotes as you like
  • Read reviews of the UK’s leading providers

Guaranteed acceptance & a £80 gift card with a SunLife plan

In this guide: Choosing the best over 50 life insurance, how plans compare & the top 10 plans reviewed

Compare over 50s life insurance quotes

To help you choose which plan may be right for you, use our best buy table to quickly and easily compare over 50s life cover and get quick quotes from all the leading insurers.

For your protection, we only compare companies who are authorised and regulated by the Financial Conduct Authority, all of whom guarantee to accept anyone aged between 50 and 80, without the need for a medical.

Prices start from just £3.70 a month, and some plans also come with a free gift, although you should not let this sway your decision in any way.

Over 50 life insurance best buys

Plan Provider Monthly from Free Welcome Gift Full cover payable after Free Funeral cover Get a Quote
Featured Product
SunLife £3.70 £80 gift card 12 months £250 contribution Get a quote
One Family £8 £30 gift card 24 months £300 contribution Get a quote
British Seniors £4.32 £100 gift card 12 months £300 contribution Get a quote
Shepherds Friendly £10 £50 gift card 24 months £300 contribution Get a quote
Aviva £5 £50 gift card 12 months None Get a quote
Legal & General £5 £110 gift card 12 months £300 contribution Get a quote
Royal London £7 No gift card 12 months £250 contribution Get a quote

Our featured Over 50 life insurance provider

As the UK’s leading over 50s life insurance provider, SunLife was the first company to offer a life insurance with no medical and have been helping families for more than 200 years. As well as offering the lowest monthly premium, the SunLife Over 50 plan also accepts you up to the age of 85 and comes with a £80 gift card.

Get a Sunlife quote

What to think about when comparing over 50 life cover

  1. Can you comfortably afford to pay the monthly premiums, potentially for the rest of your life?
  2. When will you stop paying monthly premiums? If you live for a long time, you could end up paying more into your plan than it pays out.
  3. Are you comfortable with the waiting period of 1 or 2 years before the full cash sum will pay out?
  4. Would like to use your plan to help pay directly towards your funeral?

Funeral benefit option – use your plan to directly help with funeral costs

Most over 50 life insurance now offers a funeral benefit option; a free service where you can receive money towards the cost of your funeral by agreeing to have your cash lump sum paid directly to a specified funeral director, rather than your estate.

When the time comes, the funeral director will use the money that is paid out along with the extra payment, (usually between £250 to £300 or 10% of the cash sum) to help with the cost of their funeral services.

Another way of helping with funeral costs and arrangements is with a prepaid funeral plan.

Top 10 over 50 life insurance companies

best over 50 life insurance plansTo save you time, we have reviewed the best over 50 life insurance plans highlighting the features and benefits of each, the additional options you may wish to include and things to consider before going ahead:

Over 50 life insurance Martin Lewis' views

Martin Lewis from Money Saving Expert has reservations when it comes to over 50s life insurance. His concern is that depending on how long you live, you could pay more into the plan than the cash sum paid out.

Although he has a valid point, the thing Martin Lewis misses is that this is insurance, there to cover a risk. We go through life insuring ourselves against risk; something we hope will never happen – the house being burgled or damaged, belongings getting lost, or our car bumped – the list is endless.

The difference with this type of life insurance is that it is actually guaranteed to pay out a cash sum to your family when you die.

So, if you are looking for life insurance that is quick and easy to arrange with no questions asked about your health and lifestyle, then guaranteed over 50 life insurance could be right for you.

If however, you are in relatively good health and happy to go through a longer application with medical and lifestyle questions included, then regular life insurance could be more suitable as you could get more life cover for your money.

The key here is fully understanding how over 50 plans work and choosing the one that is best suited to your own personal needs.

Want to know more about over 50 life insurance?

 

 

Watch the video and read our straightforward guide to over 50 life insurance for full details of how these plans.

 

Get a Quote 

 

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Updated 24th June 2021 by Ashley Shepherd

Ashley is the founder and managing director at Over50choices. With over 30 years’ experience in financial services, he has held senior roles in building societies, banks and insurance companies.

Ashley Shepherd

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