Applying for life insurance when you are over 50 will cost you more monthly because:
You are closer to reaching your life expectancy
You may have developed health conditions
Your chances of developing serious health conditions is higher
How to find the best policy
Get quotes to find the cheapest life insurance policy that gives you the payout you want, and for the length of cover you need.
Most policies can offer a payout into the millions, but the more you choose, the higher your premiums will be each month.
What other options do you have?
If you want life insurance that will accept you, even if you have medical issues, you could choose an over 50s life insurance policy instead of a standard one.
The monthly premium you choose and your age will define the payout you get with an over 50s policy. This differs to standard life insurance, where you choose your payout.
Another difference between the two types is the value of the payout you could get.
Over 50s policies usually have much lower payouts compared to standard life insurance, e.g. up to £25,000, rather than up to £2 million.