Over 50s Life Insurance

If you have a troubled medical history, over 50s cover will still accept you, and could mean that your partner, children or grandchildren have a helpful pay-out to soften any financial blow.

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What is Over 50s Life Insurance?


Over 50s life insurance cover can be taken out between the ages of 50 and 80. It's a desirable form of life insurance for people aged over 50 because you are guaranteed acceptance. Whereas other types of policies may not accept you or will charge you a large monthly premium. By applying for over 50s cover, you will automatically qualify regardless of your health or lifestyle.

Over 50s insurance is a form of life assurance; this means a pay-out is guaranteed as long as you do not miss any payments. You will pay a fixed, monthly premium that has been decided based on the amount of cover you want. When you pass away, your loved ones will receive a lump sum pay-out.

Most over 50s life insurance policies will require you to pay the premium until you pass away. In this respect, it is similar to a whole of life insurance policy. However, many over 50s policies stop at the age of 90.

Some over 50s policies will have a qualification period once you buy. It is usually between one and two years, and you usually need to live past this period in order to secure the full pay-out. If you were to pass away during the qualification period, the pay-out would be calculated using the amount you had paid into the policy.

To find the right over 50s insurance cover for your needs, Caspian Insurance have a team of experts on hand to offer guidance and advice.

Should I get life insurance in my 50's?

Over 50s life insurance can provide your loved ones with financial support, should the worst happen. If you have a troubled medical history, this type of cover ensures you are accepted and could mean that your partner, children or grandchildren receive a cash injection, ensuring they do not struggle financially. 

Standard life insurance cover can be harder to come by if you are over 50, which is why these alternative options are offered. Over 50s policies can create a guarantee for you and your family. If you have had a family later in life, and you have financially dependent children to consider, over 50s life insurance could be an ideal way to support them after you have gone.

How much does life insurance cost for over 50s?

How much cover you can take out on an over 50s life insurance policy can depend on the premium you want to pay each month, and how much financial help you want to leave your family. The bigger the pay-out for your family, the higher your premiums will be.

However, it is important to note that the older you are when you take out over 50s life insurance, the less pay-out will be.

Your over 50s life insurance cover can be used for funeral costs, paying off debts or to leave as a gift for your loved ones. It is worth considering what you want the cover for, as this could help you decide how much to take out.

Which life insurance policy is the best for over 50s?

There are a number of different over 50s life insurance plans to choose from, and choosing the best one for you can be feel like a challenge. Level term and whole of life insurance cover have their benefits, but if you are over 50 then you might not be accepted. This is particularly true if you have a medical history.

If you are looking for life insurance and you are above the age of 50, then it's more than likely that over 50s cover is best suited to your current circumstances. You don't need to worry about your health and lifestyle as this type of cover guarantees acceptance, paying out a lump sum to your loved ones upon death, ensuring your family are financially supported when they need it most.

Please note that the descriptions above do not constitute as financial advice and may change dependent on individual circumstances and budgetary requirements. For quick and easy quotes, please get in touch on 0800 015 1338. Our team of protection specialists are on hand to help find the best policy to protect you and your loved ones. 

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** Premiums and payout based on a healthy non-smoker who is an office worker and doesn't have a hazardous lifestyle up to the age of 65. The premium shown is based on Aviva's Income Protection + Plan and is subject to a full underwriting process. Prices are correct as of January 2022.

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This calculator is for informative purposes only and is not to be taken as financial advice, for accurate financial advice please consult with an advisor from Caspian Insurance.