What is Seniors Term Insurance?

Granddad and grandson smiling whilst stacking coins on a table

It can often be the case that life insurance for older people tends to fall into the ‘whole of life’ category. A whole of life policy, such as our Over 50 Life Insurance, lasts for your entire life and pays out when you pass away. With this in mind, British Seniors are the first UK company offering term insurance for those aged 50+. 

While a standard over 50s policy might be ideal for one person, it's not going to suit everyone. Perhaps you need cover for a specific time period? If you have outstanding debt, you might be considering putting financial protection in place for your loved ones until you’ve paid it off. If you have dependents or children in university, you might be worried about how they will cope financially should you pass away. If this is the case, an over 50s whole of life policy might not be the best possible choice for your unique needs. 

Another thing worth thinking about is the size of the benefit amount you would like to leave behind. How much cover you choose to take out will depend on your needs. The benefit amount available with a Seniors Term Life Insurance policy is larger than that of an over 50 whole of life policy. If you have a larger benefit amount in mind, with a British Seniors term policy, you could secure cover from £20,000 up to £100,000, depending on your age. This could help cover bigger expenses such as living costs or outstanding debt. 

How does seniors term insurance work? 

Our Seniors Term Life Insurance is available for UK residents aged 45 to 80. Prices start from £2.87 per month.1 You choose a benefit amount with a rate of monthly premiums you can afford - that’s how much the policy will pay out should you pass away and how much you pay each month for your policy. 

Once you’re ready to put financial protection in place, get in touch with British Seniors online or over the phone. We’ll provide straightforward information on how our policies work, talking you through the entire process from start to finish. We'll even help you decide which level of cover is right for you. 

When you apply for a policy, we’ll ask you some health and lifestyle questions to determine your eligibility. There are no medical or blood tests required. It’s important to note that not all those who apply will be accepted. Whether or not you’re accepted will depend on your answers to these health and lifestyle questions. If you feel that you may not be eligible for senior's term cover, it may be worthwhile considering a guaranteed policy such as our Over 50 Life Insurance.

Once your policy is in place, you’ll be covered for death by any cause from day 1 (except suicide within 12 months of your policy start date). You’ll also receive the full benefit amount paid in advance if you’re diagnosed with a terminal illness. Your policy expires at age 89 or at the end of your fixed 20-year Term of Cover, whichever is soonest.  

For even greater peace of mind, you can apply to increase or decrease your monthly premium at any time at no extra cost. 

Do you need Seniors Term Life Insurance? 

Life insurance for seniors can be used as a way of helping cover funeral costs and other expenses such as outstanding bills or debts. The benefit could also be left as a cash gift for your loved ones.  

If you want to put financial protection in place for your family, but you’d rather not commit to a life-long policy, Seniors Term Insurance could be a suitable choice. Oh, and if you would like to secure a larger benefit amount (up to £100,000 depending on your age), this policy type could work for you.  

On the other hand, if you would like a policy that lasts for your entire life our Over 50 Life Insurance is guaranteed acceptance for UK residents aged 50 to 80. No health or medical questions asked. 

Decision tree to help you decide if you need seniors term life insurance or not

Would you like to gain a better understanding of the differences between Seniors Term Life Insurance and Over 50 Life Insurance? We’ve put together this handy comparison guide to help you make an informed decision. 

What makes British Seniors Term Insurance different? 

Immediate cover 

You will be covered for death by any cause from day 1 (except for suicide within 12 months of policy start date).  

No medical or blood test required 

We don’t require a medical or blood test. Instead, we ask a series of straightforward health and lifestyle questions.  

Free Healthcare services 

When you take out a Seniors Term policy with British Seniors, you’ll get access to free healthcare services. This allows you, your partner and any children up to the age of 21 unlimited access to a remote GP, mental health support, and other health and wellbeing experts. 

Here’s what’s included: 

  • 24/7 remote GP - unlimited access to a UK-registered GP anywhere in the world. 
  • Online health check – personalised recommendations to help you take control of your wellbeing. 
  • Mental health support – help is provided when you need it, including remote therapy from trained professionals.  
  • Fitness programme – a diet and exercise plan to help you achieve your goals. 
  • Nutrition consultation – nutritionists on hand to help with diets, weight loss, allergies and more. 
  • Expert case management – a second opinion from a medical expert. 

Funeral Pledge 

Our Funeral Pledge is a flexible benefit that can help ensure your family won’t be left trying to cover the cost of your funeral at short notice. They’ll receive up to £10,000 of a valid claim in advance to put towards the cost of the funeral. This sum can even be paid directly to the funeral company. 

Free Will Kit worth £100 

When you take out a policy with British Seniors, you’ll receive a free Will Kit to help get your affairs in order. This can give you greater peace of mind knowing that you have a legal Will in place. Our Will Kit provides easy-to-follow instructions on how to make a legal Will at home. 

Peace of mind for you and your loved ones 

Feel proud to protect your loved ones with a Seniors Term Life Insurance policy. If you’re ready to put financial protection in place, give us a call on 0800 803 0052 - we’re based right here in the UK. 

When it comes to Seniors Term Life Insurance, it’s important that you’re aware that the benefit amount you choose as inflation may reduce its buying power over time. If you choose the Increasing Benefit Option, this can help to protect your policy from the effects of inflation. Your cover stops once your policy term comes to an end. After this we won’t pay out if you die. If you stop your monthly payments, you will get nothing back.

 1. For a 45-year-old non-smoker with £10,000 of cover over a 20-year term..

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£100 M&S Gift Card, for new policy holders only, after six successful monthly payments and once your total premiums paid exceeds the value of your Gift Card. View full terms and conditions here.