Over 50s Life Insurance
Over 50s Life Insurance provides you with peace of mind, with guaranteed acceptance and no medical questions.
Our Over 50s Life Insurance cost starts from as little as £10 per month, and you can choose to pay up to £50. Your premiums are guaranteed never to rise and your cover will never be reduced, regardless of your future health.
- Relax knowing that those left behind will have less to worry about
- UK residents aged 50 to 80 years old will be accepted for cover without a medical
- With a 5-star Defaqto rating, you can trust our Over 50s Life Insurance to work for you
We make it simple to get an instant quote – just click below. You can amend your quote and change the level of cover as many times as you like before you apply.
|Over 50s Life Insurance Provider||Additional funeral benefit||Earliest you could stop paying||Separate rates for non smokers?||Final pay out|
|Shepherds Friendly||Age 80*||£5,316|
|Legal and General||Age 90||£4,493|
This table is an example of a 65-year-old, non-smoker making £23 monthly payments. All figures are correct as of 20th November 2023.
Please note, the £250 funeral benefit is a discount from your funeral and will only apply to ‘Tailored’ funerals. If your estate opts for an ‘Essential’ funeral then the benefit will be £100, and if they opt for direct cremation or burial then the benefit will be £50. The Funeral Benefit Option is available to UK residents only, excluding Northern Ireland. If you are based in the Isle of Man, Co-op Funeralcare will arrange for you to use an authorised local funeral director that will carry out the funeral to the same standards.
*Premiums are no longer payable after the plan has been in place for 30 years, or when you reach age 90, whichever comes first. You will never pay premiums past the age of 90, regardless of when you take out the plan.
Who can take out Over 50s Life Insurance?
Anyone aged between 50 and 80 and living in the UK can get a quote and apply for our Over 50s Life Insurance.
Do I need a medical for Over 50s Life Insurance?
No, you don’t. You’re guaranteed to be accepted regardless of your health, and we won’t even ask any medical questions.
How do I get a higher sum assured?
Simply by paying more in each month. The higher your monthly premium is, the higher your sum assured (that’s the amount that your estate receives if you die) will be.
- If your circumstances change and you stop paying the premiums, your over 50s life cover will end after three missed premiums.
- Over 50s Life Insurance has no cash in value at any time, so if you cancel it after the first 30 days you will get nothing back.
- Your life cover does not start until after the second anniversary of your plan start date, as shown in your plan illustration, unless you die as a result of an accident, in which case your life cover begins from the start date shown on your plan illustration.
- This life plan is not a funeral plan and therefore may not cover the full cost of a funeral.
- Over time, although the amount we pay out when you die is fixed, this amount is likely to reduce in value because of the effects of inflation.
- Depending on how long you live, the total premiums you have paid may be greater than the amount payable on death.
All references to taxation are to UK taxation and are based on Shepherds Friendly Society’s understanding of current legislation and H M Revenue and Customs practice which may change in the future. Please ensure that you read the full terms and conditions of this plan which are available from your financial adviser or by contacting us directly.
Please note: No advice has been provided by Shepherds Friendly. If you are in any doubt as to whether a plan is suitable for you, we recommend getting in touch with a financial adviser, who will be happy to take you through what options are available. Should you consult a financial adviser there could be a cost involved and you should confirm this cost beforehand.