Over 50s Life Insurance is a simple way to provide a fixed cash sum to your loved ones, or to help toward funeral costs and other final expenses. The cover is designed for UK residents ages 50 to 85 and can be offered as a Fixed Plan or an Increasing plan.
Over 50s Fixed Plan - This plan offers fixed benefits and guaranteed premiums. As a result, an Over 50 Fixed Plan is ideal for individuals looking for cover on a stricter budget.
Over 50s Increasing Plan - The benefit and premiums in this plan increase annually to keep up with inflation. This is a valuable feature if you are planning for future costs, as it ensures their cover will not diminish in value over time.
The terms and condition of Over 50s Life Insurance plans vary from one insurer to another and typically feature:
Guaranteed acceptance with no medical testing or health questionnaires
Cover up to £25,000
Premiums as low as £4 a month
Refund of premiums if you die within 2 years from the start of the plan
Three times your benefit if your death is accidental
Option for the benefit to be paid directly to a funeral service provider, often with additional incentives.
30-day money back guarantee