Post Office Over 50s life insurance review

  • Premiums start from just 24p a day
  • Full cover after the first 12 months

Compare Top 10 over 50s life cover

Post Office Over 50 Life Cover is an affordable whole of life insurance plan provided by Royal London; one of the UK’s largest and best-known insurance companies. This plan guarantees to accept you regardless of any medical concerns, with full life cover provided after just 12 months. The Post Office has more than 370 years of service and in addition to general postal services, it now offers over 170 products through their branches, online and through call centres, namely:
post office over 50s

  • Financial services
  • Government services
  • Telecomms
  • Mail and retail

This Post Office Over 50s life cover review is a guide to help you understand more about this plan and things to consider. As with all life insurance plans, please ensure you read the small print before going ahead.

Why choose Post Office Over 50 life cover

  • Eligible to all UK residents between the ages of 50 to 80
  • Acceptance is guaranteed
  • No medical or health questions to answer
  • Monthly premiums start from £7 a month – just 24p a day
  • Cash sum of up to £10,000 depending on monthly premiums
  • Flexibility to reduce your life cover if you need to lower your monthly premiums
  • You are covered for the full cash sum after 12 months
  • If you die as a result of an accident within the first 12 months, you are covered for the full cash sum.
  • If you die as a result of an accident after the first 12 months, the Post Office Over 50s Plan will pay out double the cash sum
  • Payments cease either after 30 years or on the policy anniversary date after your 90th birthday but cover continues
  • The Post Office Over 50 life cover has been awarded 5 stars by Defaqto, which is the highest rating

Provided by Royal London a well known and established UK insurer.

Post Office free Funeral Benefit Option

The Post Office funeral benefit option is provided in association with Co-operative Funeralcare.

These days the majority of over 50 life insurance plans offer a funeral benefit option, which basically gives you the opportunity to have the cash sum paid out on death go directly to a funeral director to help with funeral costs, as opposed to the family or estate.

If you choose this free service with the Post Office Over 50 Life Cover, then the cash sum will be paid directly to one of Co-operative Funeralcare’s’s Funeral Directors when the time comes. In return, they will put an extra £250 towards the final cost of your funeral.

Things to consider

If you die within the first 12 months of natural causes, you wouldn’t be covered for the full cash sum however one and a half times the payments you have made would be paid

Your monthly premiums are payable for a maximum of 30 years, or until the policy anniversary date after your 90th birthday. Therefore there is a chance you could pay more into the Post Office Over 50 Life Cover than the cash sum paid out – it all depends on how long you live.

As the cash sum paid out is fixed, inflation will reduce its value over time.

If you fail to make your monthly payments when due, the plan will cease and no money will be paid out.

 See how the Post Office compares to other over 50 life insurance providers.

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