The UK's over 50 life insurance guide 2023

In this guide we take a look at how over 50s life insurance works, the pros and cons, the costs and whether it's a good idea.

It's a 5 minute read. You can then decide whether it's right for you and click on our guide to getting the best deals.

If you already know what you're looking for then our comparison table could be a good place to compare quotes.

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Which is the best over 50 life insurance plan?

Over 50s life cover is an affordable way to leave a cash lump sum for your family when you die; to help with funeral costs, pay outstanding bills or simply as a gift. Prices start from just £3.70 and some over 50 life insurance companies also offer a free gift.

The best over 50 life insurance will depend on your own needs as plans do vary and whilst many come with a free gift, this doesn’t necessarily mean it’s the best over 50 plan for you.

We make comparing plans quick and easy, providing important information on leading providers like SunLife, British Seniors and; Royal London. We explain how plans work, how to get more life cover for your money and provide no obligation quotes so you can choose which is best for you.

Over 50 life insurance best buy table

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 £10 No gift card 24 months £300 contribution Get a quote
British Seniors £3.72 £135 gift card 12 months £300 contribution Get a quote
Shepherds Friendly £10 £50 gift card 24 months £300 contribution Get a quote
Aviva £5 £120 gift card 12 months None Get a quote
Legal & General £5 £120 gift card 12 months £300 contribution Get a quote
Post Office £5 £100 gift card  12 months £250 contribution Get a quote


Our featured Over 50s life insurance provider

As the UKs leading over 50s life insurance provider, SunLife were the first company to offer a guaranteed over 50 plan with no medical and have been helping families for more than 200 years. In addition to offering the lowest monthly premium, the SunLife Over 50 plan also currently comes with a £110 gift card when you apply.

For more information, read our SunLife Over 50 Life Insurance review or click the Get a Quote button for a free quote. Alternatively, you can compare over 50 life insurance quotes by using the table above.

What is over 50s life cover?

Over 50s life insurance is an insurance policy that covers you for the whole of your life, paying out a cash lump sum when you die that can be used however you choose; perhaps to help with funeral costs, pay off outstanding debts or leave as a gift for family.

Designed specifically for the over fifties, the amount of life cover you can get with this type of plan will depend on your age, how much you are happy to pay on a monthly basis and the company you choose, which is why it is important to compare over 50s life cover and look at the various benefits each plan provider offers.

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Is Over 50s life insurance a good idea?

To decide whether over 50 life insurance is a good idea for you, it is important to understand all of the pros and cons:

The benefits

life insurance over 50s
  • tick iconGuaranteed acceptance – you will be covered regardless of any health issues

  • tick iconLife insurance without a medical is simple – just a straightforward easy application

  • tick iconAffordable monthly payments - starting from £3.70 

  • tick iconGuaranteed cash sum is paid out when you die – that can be used to help your family financially

  • tick iconFixed monthly payments that never change – can help with budgeting

  • tick iconFull life cover after an initial period of 1 or 2 years* – if you die within this period the money paid in will be refunded

  • tick iconYou choose how much you want pay on a monthly basis or how much cover you need

In addition many companies also advertise over 50 life insurance with a free gift which is worth knowing however this shouldn’t be your main reason for choosing a plan.

Things to consider

  • If you were to die during the initial 1 or 2 year period*, you would not be covered for the full cash sum however your monthly premiums would be refunded
  • Premiums are payable for life or until your 90th birthday*
  • Depending on how long you live, there is a chance you could pay in more than the 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, you won’t get any money back.
  • The money from an over 50 policy usually gets paid to your estate so may be subject to inheritance tax

When you get an over 50s quote you will be able to make a comparison of costs and benefits to help you make the right decision for you.

What is the cut off age for over 50s life insurance?

You have to be at least 50 years of age to apply for this type of plan but the maximum cut off age for Over 50s life insurance will depend on the company you choose.

Some have an application threshold of 75 however the majority usually have a maximum age limit of 80 years old. SunLife however do offer plans to anyone up to the age of 85.

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Funeral benefit option

Most over 50 plans now offer a funeral benefit option; a free service where you can receive money towards the cost of your funeral by agreeing to have your cash lump sum paid directly to a specified funeral director rather than your estate.

When the time comes, the funeral director will use the money that is paid out along with the extra payment, which is usually between £250 to £300 or 10% of the cash sum to help with the cost of their funeral services.  

Another way of helping with funeral costs is with a prepaid funeral plan – our funeral insurance section explains how they compare to over 50 life insurance.

Over 50 life insurance reviews

To save you time, we have reviewed the leading over fifties life insurance plans highlighting the features and benefits of each, additional options you may wish to include and things to consider before going ahead.

Regardless of whether you are 50 or looking for life insurance over 60, 70 or even 80 years old - just click on the name of the over 50s insurance provider you are interested in for more information.

Top 10 over 50 life insurance companies

Here are our UK market leading guaranteed life insurance over 50 plan reviews. To review, get a quote and compare features and prices simply click on your chosen provider.

No Medical life insurance Get a quote

When you apply for no medical life insurance, your acceptance is guaranteed, regardless of any health issues. There are no medical questions to answer or doctor’s visits; you’ll be covered regardless. From high blood pressure to a serious illness, applying for an over 50 plan is quick, easy and guaranteed.

And after the initial period of either one or two years (depending on the plan) you will be covered for the full cash sum.

Can I get over 60 life insurance?

A question we get asked frequently is, "What is the best life insurance for over 60 years of age?"

Even though these are called ‘Over 50s Life Cover Plans’, they are suitable for over 60s too. As we get older we start to think about putting plans in place for our later years to protect our families, perhaps from the financial burden of paying for our funeral. This is where Over 60s life insurance could be helpful, particularly as your eligibility for cover does not depend on the state of your health or lifestyle.

Having said that some companies do ask whether you are a smoker and can charge more as a result which is where a detailed comparison like the one we provide will help.

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Can I get over 70 life insurance?

You may think that being over 70 means you are too old for life insurance – well you would be wrong. It doesn’t matter if you are over 50, 60 or over 70, there’s a plan for you. In fact some companies provide life cover for those up to 80 years of age and SunLife have a maximum age limit of 85.

Again your over 70 life insurance plan will generally be labelled as an Over 50 plan, offering affordable cover for the whole of your life from as little as £3.70 a month.

It’s important to get a range of fifty plus insurance quotes so you can compare not only the cash sums based on your preferred monthly budget, but also the benefits so you can make a more informed choice but our comparison table will help get you started

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Over 50 life insurance Martin Lewis' views

Martin Lewis from Money Saving Expert has reservations when it comes to Over 50 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, our belongings lost or our car bumped – the list is endless.

The difference with this type of life insurance is that it is actually guaranteed to pay out a cash sum to your family.

So if you are looking for life insurance that is quick and easy to arrange with no questions asked about your health and lifestyle, then a guaranteed over 50 life insurance plan could be right for you.

If however 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 - for more details click here.

The key here is fully understanding how plans work and choosing the one that is best suited to your own personal needs.

What should I do now? Get a Sunlife quote

Once you have read this guide you should have gained sufficient information to make an informed decision on your next steps, however, our questions and answers below may help you further before making your final decision.

Click here if you would like to take another look at the comparison of providers.

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