Life insurance for over 50s

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Last updated: 16 December, 2019

What’s over 50s life insurance?

Life insurance over 50 is an insurance policy that’s only available to people over 50. It pays out a lump sum to your family when you die. Over 50 life insurance, UK wide, guarantees to accept you even if you have a poor medical history.

Is it easy to get life insurance over 50?

Finding the best over 50 life insurance can be tricky, but that doesn’t mean you can’t get life insurance over 50. Many insurance providers offer policies that are specifically designed for over 50s, but it’ll cost you more than regular insurance. That’s because as you age, you typically have more health conditions, and are likely to develop more as you get closer to reaching your life expectancy.

How can I find the best life insurance?

To find the best life insurance policy for over 50s, it’s a good idea to get quotes from the best life insurance companies out there.

When you look for over 50 life insurance, compare the size of the payout and the length of the cover. Hopefully you’ll be able to find one that fits your needs.

Remember that many policies can pay out into the millions (although this is less likely with life insurance over 50). But the bigger the payout you choose, the higher your monthly premiums will be.

How much does it cost to get life insurance for over 50 year olds?

The price of life insurance over 50 varies from person to person. The quotes you get will be based on your age, how much cover you want, how long you want it for, and your medical history.

Your fixed payout will be based on how much you pay for your policy, and your age. The older you are, the lower your payout will be. Most insurers set a limit on the premiums you can choose from. For example, you could choose to pay between £5 and £100 a month.

There are ways to cut the cost of your life insurance. Give it a go to help find the cheapest life insurance for over 50s that still meets all your needs.

How long does over 50 insurance last?

With over 50 insurance you’ll normally need to keep paying your premiums until you die. If you stop paying, the policy ends and you lose everything you’ve paid in.

There are a few insurance providers out there which stop taking premiums when you reach a certain age (such as 90). A few others stop taking premiums when you’ve paid for a set duration (such as 30 years).

What are the pros and cons of life insurance over 50?

Even with the very best life insurance for people over 50s, there are pros and cons. They’ll depend partly on your personal circumstances.


  • you know exactly what payout you’ll get from the start

  • you’re guaranteed to be accepted whatever your medical history

  • the payout could be more than you’ll pay in.


  • even if you’re fit and healthy you’ll get the same payout as someone who isn’t

  • most policies don’t rise with inflation, so the value of the payout won’t seem as high if you live longer the payout could end up being less than you pay in.

Is over 50 life insurance guaranteed to pay out?

As long as your cause of death’s covered in your over 50 life insurance, and you die during the term of your policy, your family will receive a payout. You can find out more about how life insurance works here.

How is over 50s life insurance different to other types of life insurance?

If you need to find UK life insurance that will accept you, even if you have medical issues, you could choose an over 50 insurance instead of a standard one.

With over 50 life cover, the monthly premium and your age will define the size of the payout you get. This is different to other types of life insurance, where you choose the size of your payout.

The other difference between normal life insurance and life insurance over 50 is that with the latter, the payouts are usually lower. You can read about some alternatives to over 50 insurance here.

Life insurance for over 50s FAQs

The price is based on your age, how much cover you want, how long you want it for, and your medical history. Here is how to cut the cost of life insurance.

Only if your cause of death is covered in your policy, and you die during the term of the policy. Here is more on how life insurance works.

Yes, but you may find it cheaper to have one policy that gives you the exact cover you need.

You may find it harder to get cover if you have any health issues. Get as many quotes as you can until you get accepted for the cover you want.

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