Compare over 50s life cover

  • Affordable monthly premiums
  • Full cover after one year
  • Guaranteed acceptance with no medical
  • Provides a cash sum for family to use how they wish

On this page we explain who the leading companies are, how they compare and the free gifts they offer. You will also find links to over 50 life insurance calculators and see what Martin Lewis thinks of these types of plans.

Over 50 life insurance offers an affordable way of leaving money for family when you die. The cash sum paid out can be put towards many things, but most people use it to help with funeral costs.

Use this simply comparison table to compare providers and find the right over 50 life insurance for you. The amount of cover you need will depend on what you want it for and how much you can afford. If you’d like to help pay for a funeral; it may help to consider current funeral costs as these will increase over the years to come.

Over 50 life insurance calculator

Each provider’s over 50 life insurance calculator takes seconds to show you how much cover you can get for your money. Just click on the link in the table below.

Our comparison table also shows you the minimum monthly premium each company offers, when the full cash sum will pay out if you die, the customer rating and the free gift on offer when a plan is taken out.

Over 50 life insurance comparison table

Company Minimum premium Customer rating Pays out after Free gift value Calculators
SunLife £3.70 4.8 1 Year £100 SunLife calculator
Royal London £7 4.7 1 Year £100 Royal London calculator
Shepherds Friendly £10 4.67 2 Years £50 Shepherds calculator
One Family £8 NA 2 Years None One Family calculator
Aviva £5 NA 1 Year None Aviva calculator
Legal & General £5 4.6 1 Year £120 L&G calculator
British Seniors £4.32 4.8 1 Year £100 British Seniors calculator

All the companies we compare are authorised and regulated by the FCA for your protection.

Customer rating are taken from each provider’s website, typically Feefo or Trustpilot’s review service. ‘Pays out after’ means that the plan will only pay out in full once you have passed this initial period.

Do the best over 50 life insurance plans have a free gift?

Many over 50 life insurance plans come with a free gift or gift card once the plan is purchased. Although it’s a nice gesture, this shouldn’t be your main reason for choosing a plan. Your decision should be based on the level of service, terms and conditions and company reviews, not just a free gift.

Always check the small print. Free gift terms and conditions vary by company.

How does over 50 life insurance work?

  • Quick and easy application process

Acceptance is guaranteed, with no medical required. You simply need to be aged between 50 and 80 (85 if you choose SunLife) and live in the UK

  • Low fixed monthly premiums

Over 50 life cover is available from just £3.70 a month and fixed for life, which means it will never go up.

Some insurers also offer an increasing option designed to keep in line with inflation. With this option both the cash sum paid out and your premiums increase each year.

  • Full cover after just 1 or 2 years

Depending on the over 50 life cover you choose, you will be covered for the full cash sum after just one or two years.

  • Guaranteed cash payout

The cash sum is fixed and guaranteed. So as long as you continue to pay your monthly premiums, you know exactly how much your family will get when the time comes.

  • Option to pay directly towards funeral costs

Choose the free funeral benefit option to help pay your funeral costs. When the time comes, your cash sum will be paid directly to a designated funeral director and deducted from the final funeral cost. They will also contribute an extra £250 or £300, depending on the plan you choose.

  • Quick and easy claims process

To make things simple and straightforward for your loved ones at a difficult time.

Things you should know

  • As the cash sum is fixed, inflation will reduce its value over time
  • Premiums are payable for life or until your 90th birthday
  • If you stop paying your premiums, the plan will end, and you won’t get any money back
  • Depending on how long you live, you may pay more than the cash sum paid out
  • If you die within the initial period, the cash sum won’t be paid however your premiums would be refunded

Martin Lewis on over 50 life insurance

Money Saving Expert Martin Lewis is quite vocal when it comes to over 50 life insurance. His main concerns are that you could pay more in premiums than the cash sum paid out; that inflation reduces the value of the cover and once you start paying for the plan, if you want to cancel or miss a payment you won’t get any money back.

However, Martin does acknowledge that for people with an illness or in poor health with a possible shorter life span, these plans could offer good value for money.

Martin Lewis’ points are valid of course. However, this is insurance and like any other type of insurance, you are paying to cover a risk that may never happen. But whilst we may never make a claim on all our other insurance, over 50 life insurance guarantees to pay out a cash sum when you die, whenever that may be.

Ready to get an Over 50 life insurance quote?

Comparing quotes is an important part of finding the right over 50 life insurance for your needs and your budget.

So if you’re ready to compare quotes, simply click on one of the over 50 life insurance calculators in our comparison table.

Compare plans

Alternative ways to help with funeral costs

Prepaid funeral plans

If you want to help with funeral costs, a prepaid funeral plan lets you arrange and pay for your services in advance at today’s prices.

Direct cremation funeral plan

If you are looking for an alternative to a traditional service, a direct cremation plan lets you arrange and pay in advance for a simple cremation only funeral.

What is the difference between over 50 life insurance and prepaid funeral plans?

Over 50 life cover pays out a cash sum when you die. This means your family have the flexibility to use the money how they wish, one option being to put it towards funerals costs. A funeral plan lets you arrange and pay for your funeral service in advance, removing some of the worry from your family when the time comes.

compare free gifts

  • The funeral benefit option is free and now offered by most over fifty providers. By simply agreeing for your cash sum to be paid directly to a specified funeral director, you receive additional money to go towards your funeral costs.

    For example in the case of SunLife, if you choose their funeral benefit option your money would go to a Dignity Funeral Director and in return, you receive an extra £300 towards your funeral costs.

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