Does Co-op offer over 50 life insurance?

Yes, as well as standard life insurance, Co-op also offer over 50s life insurance to UK residents aged 50 - 80[1].

This is a type of policy that pays out a guaranteed cash lump sum to your loved ones when you pass away.

The application doesn’t include any medical questions and acceptance is guaranteed.

At Reassured, we can’t provide quotes from Co-op, but we can compare over 50 life insurance quotes from other leading insurers to help you find the right policy.

Get in touch for your free, personalised quotes. Acceptance is guaranteed if you’re aged 50 - 85.

Continue reading as we provide everything you need to know about Co-op life insurance for over 50s in this review…

Co-op over 50s life insurance key features

Key features:

  • Cover is provided by Legal & General
  • Guaranteed acceptance to UK residents aged 50 - 80
  • Full cover starts after 1 year
  • Fixed monthly premiums between £3.95 and £100 depending on your personal circumstances and budget
  • Fixed pay out amount up to £10,000
  • Free welcome gift to the value of £100 (no stated end date)
  • Exclusive member discount available with new policies

Co-op life insurance reviews: Is Co-op a good life insurance provider?

According to financial experts, Co-op over 50 life insurance is a good product - receiving a 4 star rating (out of 5 stars) by Trustpilot.

Whilst not having many available online reviews, the Co-op’s life insurance provider, Legal & General, are rated:

  • 5 stars on Defaqto
  • 3 stars on Fairer Finance

Ratings taken from review website correct as of 24/01/24 as they are subject to change


Co-op insurance (including life, home, pet and car insurance) in general has a 4.2 (out of 5) star rating on Trustpilot based on 1,049 customer reviews (as of 18/09/23).

At Reassured, we have more than 70,000 reviews on Trustpilot and our service is rated ‘Excellent’ overall. We compare quotes from some of the biggest insurers in the UK.

Who are Co-op?

The Co-operative Group (known as the Co-op) is the UK’s largest mutual business, owned by millions of UK customers.

Founded in 1863, it was a wholesaler providing food and other produce to co-operative stores across England.

Today, the Co-op is still a leading food retailer in the UK, but they’ve also branched into legal services, funerals and insurance.

The Co-op’s over 50s life insurance policies were previously provided by Royal London, however it is now provided by Legal & General, as of December 2023.

What can Co-op over 50s life insurance cover?

Whether you take out over 50s life insurance with Co-op or any other insurer, your policy could help to cover a range of costs for your loved ones during a difficult time.

For example, it could help towards:

  • Funeral costs - Funerals can be expensive and a financial worry for loved ones. The average cost of a UK funeral is £3,953 and the cost of dying averages £9,200[4]
  • Inheritance - Life insurance can provide a cash gift for loved ones if you don’t have the necessary savings when you pass away. Alternatively, you can donate a portion of your life insurance to charity
  • Daily living costs - This includes utilities, council tax, food, travel and other essentials. A life insurance pay out could be a helping hand for your partner or other loved one after you’re gone
  • Unpaid debts - If you have any outstanding personal debt such as a loan or credit card then your pay out could be used to help pay these off

As mentioned, the maximum cover limit for Co-op over 50s life insurance is £10,000. The exact amount you can secure will depend on your personal circumstances.

It’s important to note that the cover limit for most other insurers is higher (sometimes up to £20,000), so you may be able to secure a larger amount for loved ones elsewhere.

At Reassured, we can help you compare quotes for over 50s life insurance to help you find the highest amount of cover for the lowest price we can offer.

Over 50 life insurance calculator

How much over 50 life insurance do you need? Fill in the fields below with the costs you would like your policy to cover and calculate your ideal cover amount.

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According to Uswitch, it’s estimated that 23,000 people in the UK will still be paying off their mortgage by age 75.

Although an over 50s plan can’t cover the full cost of a mortgage (as cover is capped at £20,000), it could help to contribute some funds towards keeping your family in their home.

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Research by Saga shows that nearly 6 million over 50s owe money on credit cards and loans, with average debt amongst this age group totalling £12,000.

Depending on your personal circumstances, an over 50s plan may not be able to cover all debts (as cover is capped at £20,000) but it could allow you to cover some debts in your name.

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SunLife’s Cost of Dying 2023 report found that the average cost of a basic funeral is £3,953, with the overall cost of dying totalling £9,200.

A pay out from life insurance can help to cover all or some of these costs.

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Age UK have found that many over 50s and 60s will be reliant on their pension to get by.

Life insurance can provide your partner with a helping hand on top of their pension.

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An inheritance can provide your loved ones with a cash gift to spend as they wish.

Alternatively, you could leave a portion of your pay out to a charity that’s close to your heart.

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If you already have a life insurance (or other financial protection) policy in place, and/or you have your own savings, factoring these into your sum assured could reduce the level of cover you require - helping you to save money.

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Your total cover estimate

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Let us help you find our best quotes

How does Co-op over 50s life insurance work?

Over 50s life insurance lasts for the rest of your life and guarantees a cash pay out to your loved ones when you pass away.

It’s designed for people over 50 who may have poor health and have found it difficult to secure other types of life insurance.

The table below explains the key features of Co-op over 50 life insurance and how it works:

FeatureDescription
Fixed monthly premiumsYou’ll pay a fixed monthly premium until you turn 90 or until you pass away to keep cover in place. Your premium will be determined by the amount and length of cover you choose, and your personal circumstances (including smoking status)
Fixed pay out up to £10,000The amount of cover you can secure will depend on your personal circumstances and budget
Guaranteed acceptanceYou’re guaranteed to be accepted for a policy if you’re a UK resident aged 50 - 80. You don’t have to provide any medical information during the application process
Full cover after 12 monthsA full pay out is guaranteed after a year waiting period
Immediate accidental death coverIf you pass away due to an accident during the waiting period, a full pay out will be made. If you pass away due to natural causes then Co-op will refund the premiums you’ve paid

Read our full guide to how over 50s life insurance works for more information »

Co-op over 50 life insurance additional features

Co-op offer additional features and benefits to customers who take out over 50s life insurance.

These include:

  • Payment holidays - You can take a break from your payments for up to six months, providing you make up the outstanding payments at the end of the payment holiday. Your cover will continue during this time. You’re entitled to two payment holidays in the lifetime of the policy but they can't be within 12 months of each other
  • Final payment date - Although cover lasts for life, you won’t need to pay any more monthly premiums if you live past 90. The policy anniversary on or after your 90th birthday will be known as the ‘final payment date'. After this you’ll won’t be required to pay premiums, but your cover will remain in place until you pass away
  • Reduce your monthly premium - If you struggle to afford your monthly premium then you could reduce the cost to £3.95 a month, but this will also reduce the sum assured (pay out amount)

It’s important to check the terms and conditions of your policy to ensure whether these benefits are reflected in your policy.

Reassured can’t help you secure Co-op over 50 life insurance. However, we can offer Legal & General policies, as well as, an array of life insurance options from some top UK providers and help you make an informed decision.

Simply contact us today for your free, no- obligation quotes.

How much is Co-op over 50s life insurance?

According to their website, Co-op over 50s life insurance costs between £3.95 and £100 a month.

How much you pay depends on:

  • Your age
  • Your smoking status
  • Sum assured (cover amount)
  • Length of cover

Information about your health and some lifestyle factors are not taken into account to calculate your monthly premium.

Reassured can't help you secure Co-op life cover. However, we can compare quotes from other leading insurers, including One Family and SunLife.

It’s helpful to compare various options from different insurers so you can find your ideal policy, at an affordable price.

Age50556065707580
Sum assured£10,945£9,539£8,436£6,989£5,276£3,742£2,695


With policies available through Reassured, it’s possible to secure up to £20,000 of cover depending on your personal circumstances and budget.

Get in touch with Reassured for your free, personalised quote comparison and see if we can help you save money today.

Other policies available through Co-op

Co-op life insurance

As well as over 50 life insurance, Co-op also offer two types of term-based cover:

Both options provide cover for a set term and will pay out if you’re diagnosed with a terminal illness or pass away during the term.

You can secure up to £750,000 depending on your needs, personal circumstances, and budget. Prices start from £7 a month with the Co-op.

Level term key features

  • Pay out remains fixed during the term
  • Fixed monthly premiums
  • You can choose the length of the term
  • Available to applicants aged 18 - 70
  • Can help to cover an interest-only mortgage and/or family living costs
  • Terminal illness cover included
  • Can add optional serious illness cover for an additional cost

Decreasing term key features

  • Pay out amount decreases over time
  • Fixed monthly premiums
  • You can choose the length of the term
  • Available to applicants aged 18 - 70
  • Can help to cover a repayment mortgage
  • Terminal illness cover included
  • Can add optional serious illness cover for an additional cost

You may consider term life insurance if you want to secure larger sum assured than an over 50s plan to help cover an outstanding mortgage and/or other essential costs for your family.

However, the application includes questions about your health and lifestyle so these factors will affect your eligibility and the cost of your monthly premiums.

At Reassured, we can’t compare Co-op term life insurance, however we can compare multiple term life insurance quotes to see if this could be a good option for you.

Prices start from just £5 a month, so get in touch for your free quotes.


Co-op serious illness cover

This is an optional extra (similar to critical illness cover) that can be included with your policy for an additional cost. Serious illness cover pays out a lump sum if you develop a specified serious illness during the policy term.

Co-op will pay out for the following illnesses:

  1. Cancer - But not early stage cases
  2. Heart attack - Where your heart pumps less efficiently
  3. Multiple sclerosis - Persistent symptoms
  4. Stroke - Any which causes irreversible damage to your nervous system
  5. Brain tumour - Benign, requiring treatment or causing irreversible damage
  6. Dementia - Permanent symptoms

Your condition will need to meet the medical definitions that Co-op has in place, and you must survive 30 days from diagnosis.

This is a single pay out which cannot be less than £1,000, and the amount you will receive is age dependent:

  • 18 - 44: Up to £350,000
  • 45 - 49: Up to £275,000
  • 50 - 70: Up to £125,000

Co-op funeral plan

Co-op offer pre-paid funeral plans to cover a range of burials, cremations and alternative send offs. These can be secured simultaneously or instead of life cover to fund your funeral in advance.

Reassured doesn’t offer funeral plans. However, we can help you secure over 50s life insurance which can contribute towards your funeral costs.

Simply contact us to see if we can secure you a competitive quote.

Co-op life insurance additional features

Co-op term life insurance comes with additional features and benefits, these include:

Terminal illness cover - This cover allows you to make an early claim on your policy if you’re diagnosed with a condition which leaves you with less than 12 months to live. You can receive an early pay out to help get your finances in order and/or to enjoy with loved ones.

All term life insurance policies available through Reassured come with free terminal illness cover.

Payment holidays - As described above, it’s possible to take a break from your payments for up to six months, as long as you cover the outstanding payments at the end of the payment holiday. Your cover will continue during this time.

Children’s cover - If you have secured a policy with serious illness cover, you’ll have children’s cover included. If your child develops one of the specified serious illness conditions between the age of 30 days - 18 years old, you’ll be able to claim 25% of the sum assured from your serious illness cover policy. This isn’t applicable with pre-existing conditions.

Policy length and sum assured reduction - You can reduce the length of your cover and sum assured multiple times, providing your premium still equals more than £7 per month and your policy term is more than 5 years. However, you cannot increase the policy length, or sum assured unless you secure a new plan.

Co-op life insurance with free gift

Like many providers, Co-op offer a free welcome gift once you’ve secured life insurance through them.

Operating since the 11th December 2023, with no stated end date, you can choose from the following gifts as a new over 50 life insurance customer:

  • £100 Cheque
  • £100 Amazon gift card
  • £100 Argos gift card

Terms and conditions apply for eligibility.

While these offers seem enticing, you can only claim a gift if you buy life insurance directly from Co-op, which may not provide you with the cheapest deal.

Ultimately, it’s important to choose a policy based on your needs and budget. Comparing quotes from different insurers can help you find a suitable option.

Reassured are currently offering a £30 Love2Shop gift voucher when you refer a friend.

Once your referred friend has made 3 successful premium payments, you’ll be able to apply for your voucher. Vouchers are per friend you refer, but you’ll only receive one voucher if a friend secures multiple policies.

For more information, feel free to contact our award-winning team today.

How do I claim Co-op over 50 life insurance?

If your loved ones need to make a claim, they can contact Co-op through their phone number or address (below).

Co-op will guide you through the procedure, which will include:

  • Completing and returning claim forms
  • Providing any additional, relevant information
  • Potentially sending original birth and death certificates of the policyholder, medical records and any change of name evidence

Once all this information has been approved, Co-op will aim to pay successful claims within 10 working days.

Co-op over 50 life insurance FAQs

Is Co-op over 50 life insurance underwritten by another company?

Yes, all Co-op life cover policies are underwritten by Legal & General.

Legal & General provides risk assessments on behalf of Co-op. However, they also offer their own life insurance products.

Can you have more than one over 50 life insurance policy with Co-op?

Yes, it’s possible to take out multiple policies if you require more cover.

However, the maximum sum assured you can get is £10,000 across all Co-op over 50 life insurance policies.

Can you write Co-op over 50 life insurance in trust?

Yes, you can. Placing life insurance in trust is a legal process which ensures your pay out is made to a trustee and not your estate when you pass away.

Doing this has a number of benefits, including:

  • Minimise or avoid 40% inheritance tax (if your estate is worth over the tax-free threshold)
  • Avoid a lengthy probate process (the legal process of administering your estate)
  • Specify who benefits from the policy and when

Co-op will need a copy of the trust deed (sent to their customer services address below) before they can pay out.

Reassured offer a free trust writing service for the majority of the life insurance policies we arrange. Get in touch with our friendly team to learn more.

When do Co-op pay out?

Once Co-op have received all the required paperwork, they will aim to pay out the sum assured on successful claims in 10 working days.

Can you buy Co-op over 50 life insurance online?

No, you can’t purchase Co-op over 50 life insurance (or any other policy) online. You will either need to call or write to Co-op to purchase a policy.

However, you can buy life insurance online through Reassured. Our comparison service provides quotes from some of the UK’s top providers.

Our fee-free service will also help you to find our cheapest price.

How do I cancel a Co-op over 50 life insurance policy?

To cancel a Co-op over 50 life insurance policy you can call 03700 600 015.

You can also cancel online on the Legal & General website by logging in via ‘my account’ and filling out the cancelation form.

If you cancel within 30 days of receiving your welcome pack, all premiums you’ve paid will be refunded.

If you cancel and have paid at least half of the payments due during the policy term, your loved ones will still receive a lump sum when you pass away, as per the Co-op payout promise.

How do I contact Co-op?

Co-op’s life insurance number is 0800 316 1290

Their opening hours are:

  • Monday: 08:30 - 20:00
  • Tuesday: 08:30 - 20:00
  • Wednesday: 08:30 - 20:00
  • Thursday: 08:30 - 20:00
  • Friday: 09:00 - 13:00
  • Saturday: 09:00 - 17:00
  • Sunday: Closed

You can also access information online via the Legal & General website.

Compare over 50 life insurance quotes through Reassured

Co-op life insurance can't be secured through Reassured.

However, we can help arrange other over 50 life insurance policies from some of the UK’s biggest and best insurers.

Reassured offer a life insurance quote comparison service to assist you in sourcing the cheapest quotes available from our partners.

Over 50 life insurance through us starts from just £5 a month and it’s possible to secure up to £20,000 for your loved ones.

We can also compare quotes for a range of other policies to suit different needs and circumstances.

Our friendly team will locate quotes which are no-obligation, personalised and completely fee-free.

Co-op over 50s plans

Over 50 life insurance through Reassured

  • Pay out up to £20,000 depending on your personal circumstances & budget
  • Guaranteed acceptance if aged 50 - 85
  • No medical questions or exam
  • Fixed premiums from £5 a month

Sources:

*Depending on your age, smoking status and budget

[1] https://www.coop.co.uk/insurance/life-cover/over-50-life-insurance

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