Senior life insurance

Making sure you’re covered in the best way for you is important. So, picking the right kind of policy for you sets you up for success in the long run.

Over 50s life insurance

With our over 50s life insurance we don’t do any medical checks or ask any health questions. All we ask is how much you want to be covered for or how much you’d like to pay as a monthly premium to give you a quote. We will also make sure you're always covered, but once you hit 90 on the next anniversary of your policy, you won't pay a penny more. 

With our over 50s cover we guarantee to pay out every penny of the cover amount as a lump sum if you die for any reason after the first 12 months of having the policy – or if you die because of an accident within the first 12 months. 

However, if you die before the first 12 months are up, and it wasn’t an accidental death, we won’t pay out the cover amount, but we’ll pay a sum that’s equal to the premiums that have already been paid.

You have to be between 50 and 80 to take it out. So, you can easily secure cover without any hassle.

Life Insurance

Our standard life insurance  comes in two different ways: level cover and decreasing cover. Both are what we call term assurance policies, which means they will help protect you for a fixed amount of time, or term.

Your level cover is where you will pay the same premium each month for a set lump sum to be left if you pass away during this time. However, it is worth noting that these will not take into consideration inflation.

Decreasing cover is commonly referred to as mortgage protection as it can be used to help your loved ones pay off their mortgage or a long-term loan if you pass away during the policy term. But it is worth noting you don’t need a mortgage to take out this type of plan.

The amount you have left to pay on your mortgage usually drops over time, so mortgage protection life insurance decreases over time too. This is why it’s called decreasing cover, and why it usually cost less than level cover.

Find out more about the difference between level cover and decreasing cover.

With our over 50  life insurance not only do you get great cover but you  also get:

• Our promise we’ll accept you
  We guarantee to cover you if you’re a UK resident aged between 50 and 80
• The same price for life
  Just choose how much you want to pay each month, and it’ll never go up
• Cover forever
  Your insurance lasts until the day you die - and you won't pay any premiums after 30 years or from the anniversary date after your 90th birthday, whichever comes first
• A lump sum payout
  We'll pay the full cover amount in one go if you die after the first 12 months for any reason, or die within the first 12 months from an accident
• Having more than one plan
  You might do this, for example, if you want to add extra cover later. Have as many policies as you want, as long as all your premiums together don’t add up to more than £100 each month

What to consider?

• It has no cash value
  We'll only pay out when you pass away. You can’t cash it in before that happens. That means if you stop paying your premiums, your cover will simply end and you won't get any money back
• It can't be joint cover
  This is a policy for one person only, so you’d need separate policies to cover two of you
• The payout could be less than what you paid in
  Depending on your premiums and how long you live
• Inflation will reduce the value of the payout
  The cover amount is fixed so its real-life value will go down over time because of the effects of inflation. This means it’s important to review your cover regularly
• If you pass away in the first year not due to an accident
  We'll pay a cash amount equal to the premiums that have already been paid, but not the cover amount