Compare over 50 life insurance

  • An affordable way to help with funeral costs from just 85p per week
  • Compare the best over 50 life insurance plans
  • Get as many quick, no-obligation quotes as you like
  • Read reviews of the UK’s leading providers

Guaranteed acceptance & a £100 gift card with a SunLife plan

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

How to choose the best over 50 life insurance plan

Updated 3rd May 2022

When choosing the best over 50 life insurance, it’s worth considering why you want life cover and how much you can afford. Comparing quotes can also help you see which over 50s life insurance provider offers the best cover at an affordable price.

Our best buy table makes comparing life insurance for over 50s easy and you can get quick quotes from leading UK insurers. Prices start from just £3.70 a month and some over 50 plans also come with a free gift.

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.

Compare Over 50 life insurance quotes

Plan Provider Monthly from Free Welcome Gift Full cover payable after Free Funeral cover Get a Quote
Featured Product
SunLife £3.70 £100 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 £120 gift card 12 months £300 contribution Get a quote
Royal London £7 £120 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 £100 gift card.

Get a SunLife quote

What is a guaranteed over 50 plan?

A guaranteed over 50 plan is a type of life insurance designed for the over 50s. It provides insurance for the whole of your life and guarantees a cash sum is paid out when you die. Acceptance is guaranteed too with no medical questions asked.

To read more about how this type of cover works, take a look at our over 50 life insurance guide.

What is the difference between life insurance and over 50s life insurance?

The main differences between life insurance and over 50s life insurance is the term and the application process. Over 50s life insurance is a whole of life policy so provides cover for life rather than for a specific term. Acceptance is also guaranteed as there are no medical questionnaires to complete.

Things to consider when comparing over 50 life cover

If you are thinking of getting over 50 life cover, it’s worth considering the following when comparing plans:

  • Affordability – premiums are payable for life or until you are 90*. Depending on how long you live, there is a chance you could pay more in premiums that the cash sum paid out.
  • Waiting period – Cover starts after an initial period of 1 or 2 years. If anything happened to you during this period, your premiums would be refunded.
  • Fixed premiums and cash sum – Your premiums and cash sum are fixed and will never change but inflation will reduce the value overtime.
  • Funeral costs – selecting the funeral benefit option could help those looking to help with funeral costs
  • Free gift – many plan providers offer over 50 life insurance with a free gift

Using an over 50 life insurance calculator can help you compare the amount of cover companies provide and reviews will show you how customers and the industry rate their service.

The funeral benefit option

The funeral benefit option is a free service offered by many over 50 plan providers. If you select this option, your cash sum when you die will be paid directly to a specified funeral director. In return, the chosen funeral director will make a further contribution towards your funeral costs.

The size of the contribution depends on the company you choose but is usually between £250 to £300 or 10% of the cash sum.

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

Over 50 life insurance with a free gift

When comparing quotes, you will see that many companies offer over 50 life insurance with a free gift, usually in the form of a gift card. Choosing the best over 50 life insurance plan shouldn’t just depend on selecting the best free gift however it’s worth looking out for when comparing quotes.

Over 50 life insurance calculator

An over 50 life insurance calculator can help you see how much cover you can get for your money. You simply select how much you would like to pay each month and the calculator will work out how much life insurance you will get.

As most providers have a over 50 life insurance calculator, it also makes comparing plans much easier. 

Over 50s life cover reviews

To help you decide on the best over 50 life insurance plan for you, it could be a good idea to read customer and industry reviews. Well known specialist review companies such as TrustPilot, Feefo and Fairer Finance will give you an insight into the quality of the plan and the service customers receive.

You can also read our reviews of the top 10 providers of life insurance for over 50s, which includes the features and benefits and tips on what to consider before going ahead.  

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:

What is Martin Lewis’ advice on over 50 life insurance?

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 life insurance for over 50s is that it’s actually guaranteed to pay out a cash sum to your family when you die.

So, if you’re 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.

However, as the money saving expert Martin Lewis points out, if 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 Sunlife quote 

 

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