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Over 50s Life Insurance with Cash In - take 50% of your benefit amount early

Avoid the life insurance lock-in!

British Seniors® are the only provider in the UK to give you the option to cash in your over 50s life insurance policy.

The unique Cash In option means you don’t have to be locked in for life! We know circumstances change, so you can Cash In your policy from age 80 or after 15 years, whichever is later - you'll get 50% of your benefit amount as a lump sum. If you have chosen to cash in, your policy will end.

A helping hand for your loved ones

Over 50s life insurance is there for your loved ones when you can’t be. It provides a financial helping hand to help towards funeral costs, outstanding debts, or just towards leaving your loved ones a gift.

You want to take out a policy to help protect your family from financial debt after you’re gone, but the reality of being locked into a policy for life can be daunting.

Affordable cover

Policies start from as little as £3.72, that's just 13p a day! So don't miss out, get your quote today.

Your policy, your choice

You can choose a benefit amount from £1,000 up to £20,000 (depending on your age), and your policy also gives you the following choices:

  • Choose to keep your policy for life just as you intended, to help your family pay for your funeral or other bills and final expenses, or;
  • Choose to take the Cash In option after you turn 80. As long as you’ve held your policy with us for at least 15 years, you can have 50% of your benefit amount as a lump sum to help you or your family before you die.

Fast Payout

We're able to approve payment within days of receiving a claim, so you can have peace of mind knowing that we'll be there when your loved ones need us.

Benefits of this policy:

  • Unique Cash In option - get 50% of your benefit amount before you die, from your 80th birthday or after 15 years, whichever is later
  • Guaranteed acceptance - as long as you're a UK resident aged 50-80
  • Choose your benefit amount from £1,000 to £20,000 - depending on your age
  • No health questions - no health or medical questions
  • Guaranteed no increases - fixed monthly premiums let you plan for the future knowing the cost will never increase
  • Flexibility - apply to increase or decrease your monthly premium amount for free
  • Immediate cover - for accidental death, plus death by any cause after just 24 months
  • 3X benefit amount paid out - up to £60,000 if death is due to an accident
  • Free cover after age 95 - from the policy anniversary following your 95th birthday, premiums are no longer payable and your cover continues for life

Things to consider:

  • Consider the benefit amount you choose as inflation may reduce its buying power over time
  • Depending on how long you live you may pay in more than we pay out
  • You can choose to Cash In your policy if you are 80 or after 15 years, whichever is later. There is no cash in value before this date
  • If you choose to take the Cash In amount, your cover will end
  • Cash In value is the return of premiums equal to 50% of the benefit amount and will only change if you change your benefit amount

You can choose a benefit amount that suits your needs and budget, from £1,000 up to £20,000.

Depending on your age, the maximum benefit amount you can select is:

  • Ages 50 to 54 – up to £20,000
  • Ages 55 to 59 – up to £17,000
  • Ages 60 to 64 – up to £13,000
  • Ages 65 to 69 – up to £12,000
  • Ages 70 to 74 – up to £9,000
  • Ages 75 to 80 – up to £6,000

Your premiums will depend on your age at the start date of the policy and will be fixed and guaranteed not to change.

Fixed premiums are great for people who want certainty, knowing that your increasing age will not affect the amount you pay towards your over 50s insurance plan.

Plus you'll get free cover from the policy anniversary following your 95th birthday and your cover will continue for life. You'll be covered anywhere in the world and if your health or lifestyle changes, your over 50s life cover will not be affected.

If you choose the Cash In Option, this will give you 50% of your benefit amount if you decide to cancel your policy from age 80 or after 15 years, whichever is later.

Guaranteed Acceptance - no medical, no health questions

You can't be turned down for Over 50s Life Insurance as long as you are a UK resident aged 50 to 80, and you can be covered over the phone or online in minutes. 

Immediate cover for accidental death

As soon as your policy is set up, you'll be covered for accidental death. For the first 24 months, a benefit amount will only be paid in the event of accidental death.

You will be covered for death by any cause after just 24 months.

If you die as a result of an accident anytime during your policy, we will pay out 3 times your selected benefit amount. This means if you select a £10,000 benefit amount and you die as the result of an accident, we will pay out £30,000.

Over 50s life cover for you and your partner 

You can take out a single policy on your own life, or you can choose a joint policy to include your partner. 

Our joint policy allows you to choose different benefit amounts for you and your partner if you purchase your policy over the phone. This means that both benefit amounts could be paid out to your loved ones. 

Cover is free from the policy anniversary on or following each life insured’s 95th birthday.

Over 50s Life Insurance

The features, benefits, exclusions and limitations of Over 50s Life Insurance with Cash In Option can be found in the Key Facts documents below. It is important that you read this document carefully to help you decide whether this policy is suitable for you. The Key Facts document also contains a copy of the policy Terms and Conditions.

British Seniors Over 50s Life Insurance with Cash In Option Key Facts document. 

You can apply for Over 50s Life Insurance with Cash In option if you are a UK resident aged 50-80. You can apply for a single policy or a joint policy to include your spouse, civil partner and/or common-law partner under a Joint policy.

Providing you meet the eligibility criteria, we guarantee to accept your application.

Have you ever considered who would be responsible for your funeral costs if you were to pass away, or how your loved ones may cope financially when you are not around?

That’s why a plan to help take care of your funeral expenses could be one of the most important decisions you make.

Securing over 50 life cover early ensures the financial help will be there for your loved ones and it allows your family to give you the funeral service and memorial that you would both like.

Typically, this product is suited to those who want to make sure they do not leave their family and loved ones with the burden of their funeral and other final expenses when they pass away.

You are covered for accidental death as soon as you take out Over 50s Life Insurance with Cash In Option. If you die in an accident, you will receive 3 times your selected benefit amount. So, if you choose £10,000 worth of cover and die as the result of an accident, your loved ones will receive £30,000.

Your Over 50s Life Insurance with Cash In Option benefit amount will be paid if you die due to any cause after 24 months from the start date of the policy.

During the first 24 months of the policy, your benefit amount will only be paid if you die as a result of an accident. Should you pass away due to a non-accidental death in the first two years, we will refund any premiums paid towards your policy.

No-one knows what lies around the corner, whether it’s accident or illness, and securing cover early ensures the protection is there when needed.

You can select a benefit amount that suits your needs and budget, from £1,000 up to £20,000 (depending on your age). The maximum benefit amount you can secure at the start date is:

  • Ages 50 to 54 – up to £20,000
  • Ages 55 to 59 – up to £17,000
  • Ages 60 to 64 – up to £13,000
  • Ages 65 to 69 – up to £12,000
  • Ages 70 to 74 – up to £9,000
  • Ages 75 to 80 – up to £6,000

In the first 24 months, your benefit amount is only paid in the event of accidental death.

If death is the result of an accident, then 3 times your benefit amount will be paid.

No, we will not contact your doctor when you apply for Over 50s Life Insurance with Cash In option, and there are no intrusive questions about your health and lifestyle.

Accident means an event resulting in bodily injury occurring whilst this policy is in force, where the injury is directly and solely caused by accidental, violent and external means and where the injury is not self-inflicted.

Accidental death means death occurring as a direct result of an accident which took place while the life insured was covered under the policy and where death occurs within 90 days of the accident.

If you suffer an accidental death as explained above, we will pay 3 times your benefit amount.

Absolutely. Once your policy is in place, you are covered around the clock, anywhere in the world as long as you continue to make your payments from a UK bank account.

Policies start from just £3.72 per month for a 50-year-old with a £1,000 benefit amount. However, your monthly premiums will depend on the amount of cover you choose, your age and whether you choose to have a single or joint plan.

No. Over 50s Life Insurance with Cash In Option is a level policy. This is great for people who want certainty, knowing that their increasing age will not affect their monthly premium – it will stay the same each year. 

  • Your premium is guaranteed not to change until the policy anniversary on or following your 95th birthday when cover is free and premiums are no longer payable
  • Your benefit amount will be fixed

You must ensure you choose enough benefit amount as inflation may reduce its buying power over time.

You can ask us to make changes to your policy, however, these changes may be subject to the payment of an additional premium based on your age at the time of the request.

On the policy anniversary following your 95th birthday, cover is free and premiums are no longer payable.

If you hold a joint policy, once the eldest person reaches the age of 95 their proportion of the total monthly premiums will no longer be payable from the policy anniversary following their birthday. The person that has not yet reached the age of 95 will continue to pay premiums for just themselves until the policy anniversary following their 95th birthday, when premiums will also be no longer payable.

You have 30 days from the receipt of your Policy documents, during which time you can cancel your Policy by writing to us or giving us a call. If you cancel during this time, you will receive a refund of any premiums paid. You can still cancel your Policy after 30 days, but you will not get anything back.

Your policy comes with the unique Cash In option that gives you half your benefit amount if you decide to cancel your policy from age 80 or after 15 years, whichever is later.

You can still cancel your policy outside of these examples, but you will not get anything back.

There are 3 ways for your loved ones to make a claim on your Over 50s Insurance with Cash In option policy in the event of your death:

  • Call us FREE on 0800 542 7618
    Monday - Friday from 9 am to 7 pm
  • Email us at service@britishseniors.co.uk
  • Write to us at British Seniors Insurance Agency, PO Box 4555, Slough, SL1 1JL.

We will send out a claim form to be completed, signed and returned to us.

Note: If the claim is accepted, the insurer will pay the benefit amount to the person who is legally entitled to it and they will refund any premiums paid between the date of death and the date the claim is paid.

You can put your British Seniors Over 50s Life Insurance policy into trust after you take out the policy. If you are thinking about putting your policy into Trust you can get more information here or you can seek independent legal advice. We are unable to give you any advice or recommendation on the suitability of Trusts.

British Seniors Over 50s Life Insurance now comes with the unique Cash In option. This gives you 50% of your benefit amount if you decide to cancel your policy from age 80 or after 15 years, whichever is later.

We’re very flexible and it’s free to make changes to your policy. If you're feeling the pinch, you can apply to reduce your benefit amount for free and apply to increase it again when you're ready. You can only increase your benefit amount up to the age of 80, and you can only increase it to the maximum sum insured for an 80-year-old which is £6,000.

The value of your Cash In amount will increase or decrease by the same proportion if you increase or decrease your benefit amount.

How to buy British Seniors Over 50s Life Insurance with Cash In Option

With British Seniors Over 50s Life Insurance with Cash In Option, you are investing in peace of mind by helping to provide your family with financial support. Our fully trained life insurance specialists can arrange your policy over the phone, or you can get a quote and buy online in a matter of minutes.

Call FREE on 0800 995 1001 or get a call back by clicking on the button below.

Our UK based customer service specialists will give you a quick, no obligation quote and if you are happy we will take your application further so you can be covered immediately for accidental death, plus cover for death by any cause after 24 months. All you will need are your direct debit details. Or, you can get a quote and cover straight away online.

Get a Quote    Buy online