What is Over 50 Life Insurance?

Nobody wants to think about what life will be like when they’re not around anymore. In fact, a lot of us tend to put it off and not give it any serious thought. Unfortunately, this can leave our loved ones in a tough spot if we were to pass away unexpectedly. With Over 50 Life Insurance, you can put a plan in place for the future so your family has some financial support when you’re gone. It’s simple to organise, only takes a few minutes to get it in place, and could make all the difference to your family. And once you have it, you can feel proud that you’ve done something small that can have a big impact on your loved ones.

What is Over 50 Life Insurance?

Over 50 Life Insurance is a type of life insurance that can help people aged 50 to 80 leave some financial support in place for their loved ones when they pass away. This financial support comes in the form of a lump sum cash payment that could help pay for things like funeral costs and outstanding debts, or it could even be used as a gift.

Unlike other life insurance policies, British Seniors Over 50 Life Insurance offers guaranteed acceptance. That means you won’t need to answer medical questions to take out cover. If you’re a UK resident aged 50 to 80 you can take out a policy. It’s a whole-of-life policy which means that as long as you continue to pay your monthly premium, you’ll have cover for the rest of your life.

When you buy your policy, you’ll have immediate cover for accidental death, plus death by any cause after 12 months. If you pass away from accidental death, your loved ones will receive up to 2x your chosen benefit amount depending on your age. That means if you had £10,000 of cover and died as a result of an accident, your loved ones would receive £20,000.

Do you need Over 50 Life Insurance?

As we get older, it’s only natural that we start to worry about what the future might hold. No one likes to think about passing away, or how their loved ones would cope without them around. But thinking about it now could make all the difference down the line.

If you want to ensure that your loved ones have some financial help when you’re gone then Over 50 Life Insurance could be right for you. It’s a simple way to help safeguard their future. With cover in place, you can have peace of mind that your family won’t have to shoulder the cost of a funeral on their own. They could use the money to pay for your funeral, end-of-life expenses, bills or other debts that they may face when you’re gone. Or it could simply be used as a gift. Whatever it’s for, you can have peace of mind that they’ll have support when it’s needed.

How does British Seniors Over 50 Life Insurance work?

With Over 50 Life Insurance from British Seniors, you can get up to £10,000 of cover depending on your age at the time of applying. During your application, you will decide the amount of cover that you would like and agree to pay a monthly premium in order to maintain that cover. Your monthly premium is the amount of money you will pay each month. As long as you keep up with your monthly premiums, you'll be covered for life.

When you pass away your loved ones can make a claim in three simple steps. Our team is specially trained to handle all calls with care and compassion and aim to make the claims process as quick and simple as possible.

You can learn more about how British Seniors Over 50 Life Insurance works in this guide.

How much does Over 50 Life Insurance cost?

The cost of your Over 50 Life Insurance will depend on your needs. At British Seniors, your policy is tailored to you, so you can choose a policy that suits your budget. How much you pay is based on:

  • Your age at the time of applying
  • Your smoker status
  • How much cover you need
  • Whether it’s a single or joint policy (that’s a policy you take out with your partner)
  • Whether you choose a level or increasing policy – an increasing policy can help combat the effects of inflation

When it comes to deciding how much cover you need, you should think about what costs your family might face when you’re gone. It’s no secret that funerals are expensive. According to our 2023 Funeral Report, the average cost of a funeral was £4,515. This figure could rise to as much as £13,000 depending on the type of service and any extras included.

Another important thing to think about is whether you can afford to pay the monthly premiums. Not just now, but also much further down the line. If at any point during your policy, you find yourself struggling to make a payment, please get in touch with us and we can help.

What are the disadvantages of Over 50 Life Insurance?

While an Over 50 Life Insurance policy can help a number of people, there are some things to keep in mind when buying cover. The first is that inflation could reduce the value of cover over time. You can choose the Increasing Benefit Option to help protect your policy from the effects of inflation. The second thing is that with an Over 50 Life Insurance policy, you might pay in more than we pay out. The final thing to be aware of is that if you stop your monthly payments, your cover will stop and you won’t get anything back. Over 50 Life Insurance policies are not savings or investments, you cannot cash-in your policy at any stage.

Why choose British Seniors?

Nothing is more important than family. Which is why it’s our mission to help our customers to continue to protect their loved ones even after they’re gone. We’re proud to say that since 2012, we’ve helped over 200,000 Families across the UK to do just that.

We believe that when it comes to something as important as protecting the ones we love, there shouldn’t be anything complicated about it. That’s why we make getting cover as simple as possible. Our life insurance specialists take the time to listen to each and every customer, to make sure we understand what they need from their protection. We work with their needs to find them cover that suits their family. Thanks to our dedication to our customers, we’re rated No.1 in the UK - with the highest rating of all Over 50s Life Insurance providers on Trustpilot, Google and REVIEWS.io. See how we compare here.

How to get Over 50 Life Insurance

Buying Over 50 Life Insurance with British Seniors can be done in a matter of minutes over the phone. Our UK based team of specialists can help you explore your options and find cover that suits your needs. They’re also here to answer any questions you might have, with no obligation to buy.

Simply call us on 0800 803 0051 to get your free quote. We’re available Monday to Friday from 8am to 9pm, Saturday from 9am to 6pm, and Sunday from 9am to 5pm (excluding bank holidays).

Are there any alternatives to Over 50 Life Insurance?

We understand that everyone's needs are different. That’s why we also offer Funeral Insurance Plans. If you would like to take out cover with funeral costs specifically in mind, this cover might be right for you. This type of cover is a life insurance policy that can provide a lump sum to your loved ones to help with funeral costs and/or other expenses when the time comes. It is not a pre-paid funeral or a funeral plan. Instead, it provides your loved ones with some financial support so that they can pay for the send-off you really want or use it to help with other costs that arise. Acceptance is guaranteed for UK residents aged 50-80. There are three different levels of cover on offer that go up to £5,500 with an option to add an additional cash sum.

Secure peace of mind today

If you’re ready to get protection in place for your family, we’re here to help. There are plenty of reasons to choose British Seniors. We're the UK's No.1 rated provider of Over 50s Life Insurance - with the highest ratings of all Over 50s Life Insurance providers with more than 500 reviews on each of the following platforms: Trustpilot, Google, Feefo and Reviews.io. See how we compare here.

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British Seniors, Proud to Protect

We’re here to help you protect the ones you care about most. Call our specialist UK team to explore your options and get your free quote.

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