Over 50’s cover - what you need to know


Over 50’s cover is designed for those who are looking into life insurance a little later in life.  But as we like to say, better late than never.  If you’re reading this, you’re probably interested in learning more about over 50’s life insurance, so let’s get into it.

What is over 50’s cover?

Over 50’s cover is a popular choice of life insurance for those who are over 50 and here’s why.



It is a standalone, whole of life, insurance policy which pays out a lump sum, if the worst were to happen to you. To ensure your policy stays active, you will need to pay a set premium each month. As a result, your policy will pay out a predetermined amount, if the worst were to happen.

It’s also worth noting that depending on how long you have your policy, you could pay more in premiums than your policy pays out. 



Do you need to have a medical to get an over 50’s life insurance policy?

With most types of life insurance, you will need to provide information about your health and lifestyle in order to get covered, and you may even be asked to undergo a medical examination. 



This is not the case with over 50’s insurance. You will typically not be asked for any information in regards to your health and lifestyle when you take out this cover but this all depends on which qualifying period you choose. 



What is a qualifying period?

When it comes to over 50’s cover, we work with National Friendly and they offer the chance to have a six month qualifying period, cheaper premium and increased sum assured. All you need to do to secure this is answer two medical questions and depending on your answers, you could qualify for the above. 


Your qualifying period is the time you need to have had your policy in place, before you’re fully covered. For example, if you were to pass away within your qualifying period, your policy would pay out a reduced amount.

However, if you were to pass away from an accident during your qualifying period, they will still pay out the lump sum.* 

How much is over 50’s life insurance? 



The price you pay for life insurance is likely to be different for someone else. When you take out an over 50’s policy with National Friendly, the price of your cover will be determined by multiple different factors, a few of which are:


• The amount of cover you want
• Your age
• If you smoke or not
• The type of policy you choose

What if you’re struggling to pay for your policy?

When you first take out your cover, we will always do our best to tailor your policy to your current affordability. But life happens, things change, and you might face a situation in which you cannot afford your policy premium anymore.

As is common with all types of life insurance, if you don’t keep up with the payments for your over 50’s policy then your plan will end and you will no longer be covered.

When you take out a policy with Caspian, our customer care team is there to help, throughout the duration of your term. So if affordability ever became an issue for you, we can look at your options and see what we can do to help.

Is over 50’s cover worth it?

It all depends on your circumstances. If you’re eligible for this type of cover and it fits within your current affordability, then yes!

How we can help

At Caspian, we know a thing or two about life insurance. If you’re not sure that an over 50’s policy is the right life insurance policy for you, don’t worry, we can help.

By getting to know you, we can find out more about what policy would be best suited to your needs and affordability. To see first hand how our award winning service works - click the button below to get started.

*This will only apply if you die as a result of your injuries within 90 days of the accident.