Aegon  british friendly insuranceRoyal London InsuranceLegal & GeneralGuardian InsuranceAviva Life Insurance canada life logo  LV = Insurance   AIG Life Insurance   Vitality Life Insurance  The Exeter InsuranceZurich Insurance Group

Please send me a.....OVER 50 TERM LIFE INSURANCE QUOTE > 15 Secs

Over 50 plus Life Insurance - Get Free Quotes

Todays prices


Over 50's Term Life Insurance Cover

If you have reached aged 50 plus in 2022 - you may find your life insurance needs are different than previously. The children may have left the nest, the mortgage just repaid & retirement is on the horizon or indeed you are already retired. In this article we will run through some of your generic options in the Over 50 plus life insurance marketplace.

Over 50's term life insurance is usually a simple and cheap type of over 50 Life Cover. It is known as term assurance because you may choose the term ie; how long you're covered for - usually say 25 or 30 years (the term) up to say age 85-90 for many Uk Insurers.

Note: However, that Over 50+ Term life assurance only pays out if you die within the term you've agreed. If you live longer than that term, your dependants may get nothing ! As a couple, you can also take out joint over 50s Life Insurance term cover, with the policy proceeds paying out on 1'st death ie; if first one to die during that term. 

Term Over 50 Lifecover plans are medically underwritten, which means that if you do have major medical issues, then the premiums maybe medically rated; If this a problem, then no medical Over 50's lifecover maybe a better option.  

  • Increasing over 50 s year old lifecover policy (where cover and premium rise over the years)
  • 2 single over 50's life insurance cover plans or a joint over 50 s life assurance cover policy
  • Renewable over 50 Plus + life insurance cover plan (which let you extend the original term).
  • Convertible life insurance cover plan (which let you convert to whole life cover policy but usually before say age 55).
  • Guaranteed (where life insurance premiums stay the same throughout the term)
  • Reviewable premiums (where life cover premiums may go up every year or 5 years gone up at a review)
  • Waiver of Premium (where the Insurer waives/protects & covers your premiums after a deferred period of say 4/8/13/26 weeks due to sickness or accident but usually only to age 65)

 Consider how much lifecover you need - if this is not covering say just funeral insurance costs but debts like a mortgage or loans still. 

Same typical issues apply re insurance for over 50 - over 55 year old life insurance cover; over 60 life insurance cover; over 65 year life insurance cover; over 70 life insurance cover; over 75 year old life insurance cover; over 80 year old life insurance cover;  

Aged 50's Plus - No Medical Life Insurance Cover

This type of policy is designed ideally for those Over 50's people with major medical health issues.

Typical Key Features of a No Medical Over 50 Plus Life Insurance Cover

  • A Whole of Life plans with no medical questions asked
  • However usually ask about smoker status
  • Generally insurers restrict premiums upto £100pm maximum per their plan
  • Initial Exclusion claim periods of 1/2 years mean usually no claims paid in that time frame from natural causes
  • Some payout additional sum if you die as a result of an accident during this timeframe
  • May refund premiums plus - during their exclusion periods
  • Some Insurers may stop their premiums after 20 years payment, or at say age 90.
  • Plans generally tend to be level lifecover rather than index linked
  • Some plans include serious critical illness after initial 2 years
  • Plans may now include terminal illness payout if advised only 12 months to live
  • Insurers now may also include a funeral payout option linked to say Coop Funeralcare or Dignity

 Over 50 - Whole Life Insurance Cover

Aged 50 plus Whole Life Insurance but with full medical underwriting. A protection cover plan that via definition as the name implies, is insurance guaranteed for the whole of your life, whenever you die. Whole Life Cover is traditionally more popular with those looking for over 50's life cover than necessarly term insurance, which as mentioned only pays out if you die during the policy term. You may find if this plan was intended as a funeral insurance policy, it better to take out 2 separate life policies instead.

  • Designed to pay out on death - whenever it occurs
  • Benefits are currently paid out tax free on claim
  • Whole Life Assurance Cover may be level or inflation linked 
  • Medical evidence may be required and a medical examination for those with health issues
  • Premiums may be guaranteed or if investment based reviewable
  • Maybe payable on death or earlier Terminal Illness
  • Benefits can be set up to be payable into Trust
  • Can be set up on sole or joint life basis

Whole Life insurance over 50's lifecover policies are designed to always pays out upon your death so logically are more expensive than over 50's term life insurance plan as the risk is greater to the Insurers. Whole of Life insurance is more expensive because it is certain that the life company will eventually have to pay the life sum insured.

Help with Whole Life Insurance rates

Over 50's Life Assurance - Investment Based Premiums

Your whole of life premiums are invested into a fund to cover the cost of whole life insurance rates. Potentially if surrendered this plan may aquire a value.

Balanced cover
This type of cover aims to balance the level of life cover with adequate investment to support the protection in later years and thus try maintain the original premium throughout life. This relies on the value of units invested in the underlying fund growing at a certain level each year. Poor fund performance or Increased fund charges could result in the premiums being inadequate and may have to be increased to maintain the same level of cover at review.

Maximum cover
The initial premiums and the sum insured are designed not to increase for the first 10 years. After this initial period the plan is reviewed and if necessary the whole life plan premiums may be increased.

Note: We do not give advice or do investment based whole life insurance online quotes. We can refer you to an authorised adviser if you need help with this type of whole life products.

Over 50 Plus Life Insurance - Guaranteed Premiums

This type of whole of life insurance policy, as the name implies, has guaranteed premiums that are not investment based; they are generally none-reviewable premiums. These premium therefore stay the same throughout the plan but unlike the investment based cover above, have no surrender value. It can be set up on a single or joint life basis. The cover can be level or also index linked. 

Most guaranteed over 50 plans will not allow more than say £50-£75pm premium - which will limit cover offered given age anyway.

Whole Life Insurance Policy

Whole of Life Assurance - Uk premiums will depend on the following: sum to be insured, your age, your health and whether you smoke or not. A non smoker is usually defined as someone who has not smoked for at least 12 months or taken nictotine replacement products. Premiums for women were generally lower as on average they tended to live longer but from 12/2012 the new gender rules applied.

Check the quotes & Key Facts documents for your over 50 whole life quotation produced.

Trusts: Should my Over 50's Life Cover policy be set up in a trust ?

Trusts can help avoid delays in money going to dependents but should not displace the importance of making a will. However, it can potentially avoid the risk of having to pay inheritance tax [whose rules change with each successive government]. The terms and conditions of Whole of Life Insurance policies trusts vary, so make sure you understand the scope of the trust being offered before committing yourself & seeking independant legal advice if necessary.

Do you want Advice in 2022 on over 50's Life Insurance Cover ?

After looking through this article if you would like advice on over 50's Life Insurance, complete our life assurance quotation enquiry form, get a quote & we will contact you to discuss your life insurance and protection needs.


Why are you searching in 2022 for ~ Over 50 Life Insurance ?
Income Protection
Critical Illness
Life Insurance Quote
Term Life Cover QUOTE
Buying Life Insurance - FAQ
Over 50 - Whole Life Insurance QUOTE
Over 50 - Term Life Cover QUOTE
Over 40 - Life Insurance QUOTE
Life Insurance is a Waste of Money
How many Life Insurance can I have ?
What are the 3 types of Life Insurance
Is Life Insurance Worth Getting ?
Family Income Benefit Insurance - FAQ
Business Protection - FAQ
Small Business Insurance QUOTE
Health Underwriting Problems - FAQ
Top 10 Tips Life Insurances
Mortgage Protection
Compare Insurer


Linkedin Martyn Spencer Calculate Button 1 Broker Help ~ Life Insurance Cover Quotes Insurance Take Care of YourselfGreat Ormond Street Charity FundraiserUk Life Insurance Quotes 2020

This website is intended for UK consumers & any information contained therein is for Generic Guidance only and is not to be construed as advice. 
For protection we offer products based on a fair and personal analysis

By completing one of our no obligation quotation request forms, you may be provided with comparison protection quotes, key facts from leading Providers - based just on the basic information you have provided. Note: These quotes will not take account of any personal, health or lifestyle issues unless a full application is completed. You also consent for us to then kindly contact you by phone - where we may offer Professional Broker help & guidance if needed. We may as appropriate then help to arrange a suitable protection policy based upon your own circumstances & needs after a further review by "advice & recommendation". This will usually be on a non face to face basis. ‘As with all insurance policies, conditions and exclusions will apply’

 For products with an investment element we will introduce you to an authorised adviser. We act as introducers for Accident, Sickness and Unemployment and Mortgage Payment Protection Insurance plans. We may also introduce you to other selected professional partners for other protection or legal products as deemed appropriate. Online Dispute Resolution (ODR) - Financial Ombudsman. We nominate to fundraise for Great Ormond Street Hospital Charity.

UK Life Insurance Quotes is a trading style of Martyn Spencer which is an appointed representative of Stonebridge Mortgage Solutions Ltd which is authorised and regulated by the Financial Conduct Authority FCA. FCA Register No: 416331

Secure Data Protection Here at Uk Life Insurance Quotes we take your privacy seriously. Subject to GDPR rules 2018 - We will only use your personal details provided to help provide & arrange the various products & services you have requested via us as brokers. We are registered to comply with the GDPR / Personal information is secure online, not misused or sent via spam. T&C:Cookies   
* Note: re any 3'rd Party Website links - You are now leaving the regulated site of Uk Life Insurance Quotes.
Neither ourselves, nor
Stonebridge Mortgage Solutions Ltd, is responsible for the accuracy of the information contained within the linked site. 
Uk Life Insurance Quotes 2022
Broker Registered Office: Clyde Cottages Stafford ST20 0BU