Jump to:

    Compare over 50 life insuranceover 50s life advert

    Compare over 50 life insurance plans from leading providers and learn what you need to consider when weighing up the different features of this type of insurance. It's 5 minute read and a good place to start your research.

    Ashley Shepherd
    Updated 19th September 2024

    Compare over 50 life insurance from the UK's leading providers

    Reading reviews of over 50s life insurance providres can give a clearer picture of what each plan offers - click on the plan provider name to read our expert reviews. We also recommend checking both positive and negative reviews on sites like Feefo and Trustpilot to get a balanced perspective.

    Each plan provider has their own online calculator which is completely free to use. Click on the 'Get a quote' buttons and their calculator will show you in seconds how much money will be paid out when you die. Remember to review the features of the plan in addition to the cash sum as the cheapest policy isn’t always the best.

    We suggest getting more than one quote to help you understand how plans compare and importantly how much cover you can get for your money.

    *If you're viewing this page on a mobile phone, scroll right to see the full table.

    Plan provider Monthly premiuns from Full cash payout after Get a quote
    SunLife £4 12 months Get a quote*
    One Family £10 24 months Get a quote
    British Seniors £4.32 12 months Get a quote
    Shepherds Friendly £10 24 months Get a quote
    Aviva £5 12 months Get a quote
    Legal & General £5 12 months Get a quote
    Post Office £5  12 months Get a quote

    This information is correct as at 19/9/24 and has been compiled from each insurer's website to help you make your own comparison.

    What to look out for when comparing over 50s life cover

    Policies vary depending on the provider so to find the right over 50s life cover for you, it’s important to understand the ways plans differ:

    Age limits – the majority of plan providers have an age range of 50 to 80. However, there are some companies that have a maximum age limit of 75 and SunLife have the oldest threshold of 85.

    Monthly premium – plans start form £4 a month, up to around £50 a month - you should choose a monthly premium that is affordable.

    Waiting period – the waiting period before you can claim for the full amount of life cover varies between 1 to 2 years. However, some companies do offer immediate cover for accidental death.

    How long premiums are payable – some companies require you to pay your premiums for life whereas others have premiums that cease on your 90th birthday but the cover continues until you die.

    Amount of life cover – how much life cover you can get for your monthly premium will also vary between provider.

    Smoker vs non-smoker rates – while over 50s life insurance does not require a medical to be accepted, some providers will want to know your smoking status. As a non-smoker these companies could offer you a better deal but it may be best for smokers to look elsewhere.

    Funeral benefit option – this free option means your money is paid to a specified funeral director when you die to help with funeral costs instead of to your beneficiaries. In return, the funeral director will also contribute an amount towards the total cost when the time comes. Typically it is £250 to £300 but it will vary by provider.

    Free gift – over 50 life insurance often comes with a free gift, usually in the form of a gift card, which is sent to you once the policy has been in place for a specified period, typically 6 months.

    However, over 50 life insurance shouldn’t be choosen based on the free gift. You should always ensure the plan suits your needs.

    advertImportant to know

    • If you die during the initial waiting period, the full cash sum will not pay out, however your monthly premiums would be refunded
    • Premiums are payable for life or until your 90th birthday depending on the plan you choose.
    • Depending on how long you live, there is a chance you could pay in more than your 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 for any reason, your plan will be cancelled, and you will not get any money back
    • The cash sum is usually paid to your estate so may be subject to inheritance tax.

    Our expert's thoughts on comparing over 50 life insurance

    Throughout our 20 years experience in dealing with life insurance for the over 50s, we have recommended that if you are looking at buying a plan, it is important to fully understand the details and read through the small print before purchasing a policy.

    As tempting as it may be, don’t choose a policy based solely on its welcome gift. Monthly costs, the cash benefit and additional features of the plan are of utmost importance. And if you are using the policy to help with funeral expenses, it could be worth considering a plan with free ‘funeral benefit cover’ if it means a contribution of £250 to £300 is added to the pot.

    An established company with a good track record of paying claims quickly may also be a consideration. Afterall it’s your loved ones that will be claiming on the policy.

    More information to help you weigh up your options

    Did you find this information helpful?

    We work with

    First Choice Health
    Age Partnership
    Quotezone.co.uk
    sunlife.co.uk

    How this site works

    Our aim is to provide you with clear and accurate information to help you research your chosen financial products and services. The material on this site is for general information only and does not constitute any form of advice or recommendation.

    If a link has an * by it, it means it is an affiliated link to an insurance company or broker that may result in a payment to the site. Should you use the equity release calculator, speak to an Age Partnership adviser and take out a plan out using their services, we receive a commission, however this will not affect the price you pay.

    Also, from time to time you may see advertisements from third party companies who pay us a fee to advertise their services on our site.

    None of the above arrangements constitute advice or recommendations, as other products and companies are available. You should always obtain independent, professional advice for your own situation.

    The information provided on this site is accurate at the date of publication, occasionally however, things will change before we have had the opportunity to update them, so please do check. Always do your own research and take independent advice.

    We do not investigate the solvency of any company mentioned on our website and are not responsible for the content on websites we link to.

    Over50choices is an independent company and regulated by the FCA (No.594280) for insurance products only and a member of the Equity Release Council.