What Can Life Insurance Do For Me?

Grandparents sitting with grandkids reading a book

Life can be complicated, especially when we think about how our plans will affect those we leave behind. As we age, many of us begin to think about how these plans will affect our family’s future. According to the 2023 British Seniors Funeral Report, one in four think that if they suffered a family bereavement now, they would not be able to afford to cover the cost of a funeral. 34% have not yet set any money aside to pay for their own funeral, while 45% do not think it would be possible to pay for the 'right' funeral in the current circumstances.

At British Seniors, we’re here to help make conversations with your loved ones about death and future planning that little bit easier. We provide a range of different life cover options to suit your needs. This can help you put a plan in place to provide some financial support for your loved ones when you’re gone.

Who needs Life Insurance?

Nobody wants to think about a time when they will no longer be around. Yet it's also important to know avoiding the topic could leave your loved ones vulnerable. A little planning now could make a big difference to your family when you’re gone. If you don't have a lot of savings or assets available to your family after your death, you may want to consider taking out a life insurance policy. This way you can ensure there’s some financial support in place for them.

With British Seniors, there’s a range of protection to choose from, depending on what you want it to do for you. Whatever your needs, you can feel confident that you’re doing yourself and your family proud when you secure cover.

There are some common financial milestones that we experience as we grow older, but we all have different priorities. That’s why each policy offers you a range of unique optional extras, like our Funeral Benefit Option, Increasing Benefit Option and FREE Will Kit.

Our range of Life Cover at a glance

Over 50 Life Insurance – If you’re a UK resident aged 50-80, you’re guaranteed to be accepted. With cover starting from just £4.52 a month1, you don’t need to provide a medical or answer any health questions. It’s a guaranteed, whole-of-life policy which means your loved ones are guaranteed a cash payout when you die. Depending on your age, you could get between £1,000 to £10,000 of cover.

Funeral Insurance Plan – As above, acceptance is guaranteed if you’re a UK resident aged 50-80. This can help cover the costs of your funeral to support your family during a difficult time. This is a life insurance policy, it is not a Pre-Paid Funeral or a Funeral Plan. When you consider funerals can easily cost up to £8,0002 depending on the choices you make, your loved ones will appreciate the support.

Choosing the right benefit amount

Once you have decided what kind of protection you want to take out, it’s time to decide how much cover you need. This is different for each policy type, so let’s break them down…

Over 50 Life Insurance:

  • £1,000 up to £10,000 (aged 50-69 at start date)
  • £1,000 up to £9,000 (aged 70-74 at start date)
  • £1,000 up to £6,000 (aged 75-80 at start date)

Funeral Insurance Plan:

  • £5,500 - Gold
  • £4,000 – Silver
  • £2,000 - Bronze

When it comes to choosing a benefit amount, you should think carefully about what you want this protection to do, how much you can afford to pay each month and what amount is available to you according to your age at the start of your policy.

How much does life insurance cost?

The cost of life insurance will depend on a few factors. These factors can include the cover type, your age and whether it is a joint or single policy. You’ll also have to decide how much cover you’d like and how long the cover is in place.

To help ensure that you choose the right cover amount for your lifestyle, it’s important to consider some of the potential costs that your loved ones could face when you’re gone. 

For example, did you know that according to our Funeral Report 2023, the average funeral costs around £4,515? Or that prices can rise to as much as £13,622 depending on your choices? Would your family have this money readily available if you were to pass away suddenly? If you want your life cover to help your loved ones to pay for your funeral, you should consider what kind of expenses may come up.

Maybe you want to leave your benefit amount behind as a gift, so that your family continue to get the opportunities you wanted them to have? If this is the case you should think about how much money you would need to do this, and how long you want it to last.

Taking the first steps

Now that you know what life insurance can do for you, why not explore your options further? You can request a quote online in next to no time. You can also call us free and speak to someone from our team of UK specialists. They can answer any questions you may have and help you to find the right policy for your needs and lifestyle.

Get a quote

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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For a 50-year-old non-smoker with £1,000 of cover.


Source: British Seniors Funeral Report 2023