Legal and General Over 50 life insurance review

  • Premiums start from £5 a month
  • £120 Gift Card plus other benefits
  • Full cover after an initial period of 12 months
Updated 1st February 2024 - I have reviewed Legal & General Over 50 Life Insurance to help you understand more about the company and the services they offer. Here’s what I found:

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This review of Legal and General Over 50s life insurance is intended as a guide to help you understand the features and benefits of these plans, the options available and things to consider. Do make sure you read, understand and are happy with the terms and conditions of any plan you decide on.

Why choose a Legal & General over 50s life insurance plan

  • All UK residents between the ages of 50 to 80 are guaranteed to be accepted
  • No medical or health questions to answer
  • Premiums from £5 to £75 a month
  • Payments stop on your 90th birthday but cover continues
  • Full cover after just 12 months - L&G will refund all premiums paid if you were to die within this initial period
  • You are covered immediately if death is as a result of an accident
  • Non-smokers are rewarded with preferential rates

Free Funeral Benefit Option

With both types of Legal and General Over 50s life insurance you can choose the free Funeral Benefit Option. Taking this option means your cash sum will be paid directly to Dignity and put towards the cost of a funeral service provided by one of their appointed funeral directors.

As a thank you, Dignity will contribute a further £250 towards the cost.

If the cash sum is more than the cost of the funeral, the balance will be paid either to the estate or next of kin. If the funeral costs more than the cash sum, the person arranging the funeral services will need to pay the difference.

You may wish to see how Legal and General compares to other over 50 life insurance quotes in our best buy table.

Things to consider

  • Unless you die as a result of an accident, you will not be covered for the cash sum during the first 12 months. If you die during this initial period, your monthly premiums would be refunded to your estate.
  • Monthly premiums are paid until your 90th birthday. If you stop paying, your cover will cease and no money will be paid out.
  • Inflation will reduce its value over time.
  • If you opt for the increasing plan, make sure you are comfortable with the ongoing increasing monthly payments.
  • Depending on how long you live, there is a chance that the money paid in will be greater than the cash sum paid out.
  • The cash sum paid out will usually form part of your estate and therefore could be subject to inheritance tax.

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My review of Legal & General Over 50 Life Insurance is designed to help you compare plans and find the best option for you. I would always recommend that you review all of your options to ensure you’re getting the best deal that suits your budget and needs.

There are a range of companies offering over 50 life insurance and whilst the legal and general plan could be right for you, we would always advise that you compare quotes before making your choice.

Compare leading plans here

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