What is guaranteed life insurance?

Guaranteed life insurance, or guaranteed acceptance life insurance, is a type of policy that’s designed for people over 50.

You pay a monthly premium, and it provides lifelong cover - guaranteeing a cash pay out to your loved ones when you pass away.

Unlike other types of life insurance, you don’t have to provide details about your health as there are no medical questions when you apply.

This makes it an ideal option for people who’ve found standard cover too expensive or unobtainable due medical issues or for other reasons.

Continue reading this guide as we explain how guaranteed life insurance works, the pros and cons and how much it costs…

Guaranteed over 50 life insurance through Reassured

  • Free quotes from top UK insurers
  • Secure up to £20,000 for your loved ones
  • Guaranteed acceptance if you’re aged 50 - 85
  • No medical questions or exam
  • Premiums from just 20p-a-day +
  • Use our fee-free, award-winning broker service to compare quotes

How does guaranteed life insurance work?

Guaranteed life insurance typically refers to an over 50s life insurance policy which guarantees acceptance if you’re aged between 50 and 85.

Once you’ve taken out a policy, you’ll be covered for the rest of your life and a cash lump sum will be paid to your loved ones after you’re gone.

Many people take out over 50 life insurance to help cover funeral costs, clear unpaid debts or to leave as a cash gift to children or grandchildren.

This is how a guaranteed over 50s life insurance policy works through Reassured:

Paperwork Application

No medical questions or exam. The application process is quick and simple, as you won’t have to provide any medical information or undergo an exam.


Guaranteed pay out up to £20,000. You can secure up to £20,000 depending on your age, smoking status and budget.

Cost Money Quotes

Fixed premiums from £5 a month. You’ll pay an affordable monthly premium that never increases (known as a guaranteed premium).

Singles Protection

Immediate accidental death cover. You’ll be covered for accidental death straight away and fully covered for any cause death after the waiting period (either 12 or 24 months depending on the insurer).


Funeral benefit option. Choose if the proceeds of your policy are paid directly to a funeral provider and receive a contribution towards your funeral costs.

Do I need guaranteed life insurance?

As mentioned, most people take out guaranteed life insurance to help cover their funeral costs, particularly as the average UK funeral is currently £3,953[1].

However, there are other circumstances where you may want to take out a policy, for example:

  • To help pay off unpaid debts in your name, such as credit cards or personal loans
  • To contribute towards your partner’s living expenses
  • To provide a small inheritance which could be enjoyed by your children or grandchildren
  • To leave a donation to charity

Guaranteed life insurance can provide an affordable way to leave some money behind for your family to help them cover essential costs or to spend as a cash gift.

How much guaranteed life insurance do I need?

Fill in the costs you would like your policy to cover and calculate how much guaranteed over 50 life insurance you may need.


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.


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.


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.


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.


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.


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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How much is guaranteed life insurance?

Guaranteed life insurance starts from just £5 a month through Reassured.

Although the exact cost will depend on the insurer and your personal circumstances.

Your monthly life insurance premiums will be determined by:

  • Your age
  • Your smoking status
  • Your chosen sum assured (cover amount)

With guaranteed life insurance you can amend the cover amount to suit your needs and budget, but the maximum limit is £20,000.

In the table below we have provided some example premium prices for policies available through Reassured.

Quotes are based on a non-smoker securing a guaranteed pay out of £4,000:

Age SunLife logo OneFamily logo

xOne Family only provide cover up to age 80, therefore we can’t display pricing for this age

Before choosing a policy, it’s important to compare quotes. This is because the cost of guaranteed life insurance varies between insurers.

At Reassured, we can provide free quotes for over 50 life insurance, which guarantees acceptance if you’re aged 50 - 85.

Make the most of our fee-free comparison service by getting in touch.

Which is the best guaranteed life insurance?

The best guaranteed life insurance will depend on your needs and circumstances. Comparing policies can help you find the best option for you.

In the table below we’ve compared guaranteed over 50 life insurance from different UK insurers. This includes the main features that you should consider when choosing a policy.

SunLife logo OneFamily logo Co-op logo Aviva
Guaranteed acceptance age limits50 - 8550 - 8050 - 8050 - 80
Maximum pay out amount£18,000
depending on your age, smoking status and budget
depending on your age, smoking status and budget
depending on your age and budget
Not specified. Depends on your age and smoking status
Waiting period before full cover starts12 months24 months24 months12 months
Funeral benefit option & contributionYesYesNoNo
Fairer Finance expert rating4/5 stars4/5 stars4/5 stars3/5 stars

At Reassured, we can only provide quotes for over 50s life insurance from SunLife and One Family. We can’t provide quotes for the other policies shown in the table

At Reassured, we can compare over 50 life insurance quotes from highly rated providers, with prices starting from just £5 a day.

Get in touch with our award-winning team for your free, no-obligation quotes.

Pros and cons of guaranteed life insurance

While there are plenty of benefits to guaranteed life insurance, there’re also some important aspects to consider.

Here are the pros and cons to help you decide if this could be the right policy for you:


  • Acceptance is guaranteed, even if you’ve been declined other types of life insurance in the past or have a medical condition
  • Benefit from peace of mind, knowing that your cover will stay in place no matter how long live (as long as you keep up with your monthly payments)
  • A pay out is guaranteed (after the initial waiting period) for all causes of death
  • Premiums are affordable for any eligible applicant who takes out a policy (the very maximum premium cost is £75)
  • With some policies, you won’t have to pay monthly premiums past a certain age (such as 90), but cover will continue until you pass away


  • The sum assured (cover amount) is usually much lower than other types of life insurance
  • May not be the cheapest option for people who are in good health (term or whole of life insurance may offer a better deal depending on your personal circumstances)
  • There’s a chance you could pay more into the policy than what’s paid out eventually, depending on how long you live
  • You won’t be fully covered for all causes of death during the waiting period (the first 12 or 24 months of the policy) - but if you pass away during this period, all premiums paid will be refunded
  • Only available to applicants aged 50 - 85

Why choose guaranteed life insurance?

Guaranteed life insurance can be an easy and affordable option for some people over 50 who may not be eligible for standard life insurance.

Some reasons why you may choose guaranteed life insurance include:

If none of these apply to you, then you may consider whole of life or term life insurance, which could be more suitable options.

Why not compare multiple quotes through Reassured? Our experts will do their best to help you find your ideal policy.

What is the difference between whole of life and guaranteed life insurance?

Whole of life insurance and guaranteed life insurance are two different types of cover, but both provide lifelong protection.

Here are the key differences between the two options:

FeatureWhole of life insuranceGuaranteed over 50 life insurance
Qualifying age limit18 - 8450 - 85
Sum assured (cover amount)Up to £1,000,000Up to £20,000
Guaranteed pay outYesYes (after the 12 or 24 month waiting period)
Guaranteed acceptanceNoYes
Application includes medical questionsYesNo
Fixed monthly premiumsYesYes

Whole of life insurance generally suits applicants who are in good health, as the premiums start at a higher price point than other types of policies (from £8 a month through Reassured ± ).

Here are some example premium prices for whole of life vs guaranteed life insurance, for a non-smoker taking out £4,000 of cover:


Whole of lifeGuaranteed
5018 - 8450 - 85
60Up to £1,000,000Up to £20,000
70YesYes (after the 12 or 24 month waiting period)

Please bear in mind, the quotes for whole of life insurance are based on someone taking out a policy who’s in good overall health and doesn’t have a dangerous job or hobby.

Get your free personalised quotes through our FCA-regulated comparison service.

Can you get guaranteed life insurance under 50?

Yes, you can get guaranteed life insurance under 50 with some insurers, but the options are limited.

In the table below we’ve provided a comparison of guaranteed policies available to those under 50 from two different insurers:

EsmiSmart Insurance
Guaranteed acceptance age18 - 8450 - 85
Maximum sum assuredUp to £1,000,000Up to £20,000
Whole of life coverYesYes (after the 12 or 24 month waiting period)
Guaranteed pay out for any cause of deathNoYes
No medical questions or examYesNo
Fixed premiumsYesYes
Waiting periodNo - immediate coverYes - 24 months

It’s important to note that the Esmi guaranteed policy is for term cover only (doesn’t provide a guaranteed pay out) and premiums aren’t fixed.

It also won’t pay out if you pass away of a pre-existing condition that’s affected you within 3 years of taking out the policy, despite having no medical questions during the application process.

Smart Insurance guaranteed life insurance is more like over 50s life insurance but is available to applicants from the age of 30.

At Reassured, we can only provide guaranteed life insurance for over 50s. We can also provide a range of other policies for people under 50.

Get in touch to find out how we can help you.

What is guaranteed premium life insurance?

A guaranteed premium life insurance policy is where your monthly premium payments remain fixed throughout the policy term.

For example, if you take out over 50s life insurance with a guaranteed premium of £15 a month, this won’t increase as you get older or if you become unwell.

Most policies come with guaranteed premiums, but with some policies you can choose to have the premiums change every year (known as reviewable premiums).

Over 50 life insurance through Reassured comes with guaranteed premiums, however, we can also offer reviewable premium policies.

How to find cheap guaranteed life insurance UK

Comparing quotes from different insurers can help you to find the best possible deal.

At Reassured, we can compare guaranteed over 50 policies from some of the best UK insurers, sourcing you the lowest price we can offer.

Our team of experts are also on hand to answer any questions you may have, help fill in the application form and provide support along the way.

We don’t charge a fee for our broker service (rated ‘Excellent’ on Trustpilot) and there’s no-obligation to choose a policy through us

Compare free guaranteed life insurance quotes today, prices start from just £5 a month.


[1] https://www.sunlife.co.uk/funeral-costs/

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