What is over 50 life insurance?

  • Guaranteed acceptance
  • No medical questions
  • Quick and easy application process
  • Sum assured up to £20,000
  • Cover from 20p-a-day*
Over 50s plan summary

An over 50 life insurance policy is often referred to as an 'over 50s plan' or 'guaranteed over 50 plan'.

It adopts its guaranteed status because the policy lasts for life, guaranteeing a pay out when you pass away.

Unlike traditional term-based life insurance, an over 50s plan guarantees acceptance to all UK residents aged 50-85 years.

These policies do not require you to provide any information regarding your medical health.

For this reason, it is ideal for anyone within this age range who has a pre-existing medical condition or who would find it difficult/too expensive to obtain standard cover.

Watch our short video on over 50 plans.

Over 50s in the UK

With our average life expectancy in the UK increasing, it is encouraging people to look at making provisions for the future much later in life.

Perhaps you need some form of over 50 life insurance to:

  • Leave an inheritance to loved ones
  • Cover the cost of your funeral
  • Clear all outstanding debt
  • Meet the future living costs of a spouse
  • Donate to a chosen charity

The average cost of a funeral has risen 128% over the past 16 years.

According to a 2021 report from SunLife, this figure stands at £4,184[1].

Without adequate cover in place, this cost becomes the responsibility of your family. As will any outstanding debt in your name.

An over 50 plan is an affordable way to cover these costs, provide an inheritance or simply help your loved ones maintain their existing lifestyle.

Over 50 life insurance no medical

Over 50 plans offer life insurance with no medical information required.

The guaranteed acceptance for 50-85-year-olds means even those suffering with their health can still obtain life cover. Even if they have been declined elsewhere.

The lack of medical information required also makes the over 50 application quick and simple.

Over 50s pay out (or sum assured)

As with standard life insurance, you need to determine how much you can afford each month and how much cover you require.

Due to the unknown risk (because no medical information is collected), the available sum assured with an over 50s plan is significantly lower than that of other types of life cover.

This limit is usually somewhere between £10,000 - £20,000, but this varies depending on the insurer.

How much over 50 life insurance do you need?

Enter your financial commitments below to understand the level of over 50 life insurance cover you require.


£121,687 is the estimated average outstanding mortgage per household in the UK.

Our property is generally the largest financial commitment any of us will make.

Your life insurance should cover this significant debt should you no longer be around.


According to Money Advice Service, full-time childcare in the UK now costs £242 a week.

The loss of a parent could result in the need for additional childcare whilst the surviving parent increases their hours to account for lost income.

Your life insurance cover should factor in this additional required outgoing.


The average level of debt (minus a mortgage) in the UK is £15,385.

Factoring in any outstanding debts in your name when arranging life insurance ensures this burden is not passed to loved ones.


You may wish to leave your loved ones an inheritance or lump sum gift upon your passing.

Factoring in the gift amount when arranging your cover will ensure the pay out amount will be sufficient to provide your loved ones with this selfless gesture.


According to SunLife, the average cost of a UK funeral is now £4,417, whilst the total cost of dying is £9,493.

This is a 130% increase over the past 16 years and shows no signs of slowing down.

A significant cost which should be factored into the amount of life insurance you secure.


If you are one of the 65% of the UK who are lucky enough to have savings, this could be used as protection if you were to pass away.

Any pay outs from existing life insurance policies and investments can also be used as financial protection for your loved ones if you were no longer around.

Factor this into your required cover amount.


Your total cover estimate

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Let us help you find your best quotes

Cost of over 50 life insurance

The cost of over 50s life insurance through Reassured ranges from £5 - £75.

How much you pay for your cover will be based on:

  • Age
  • Sum assured
  • Smoking status (with some policies)

Your age will also determine how much cover you can secure. The maximum pay out amount is £20,000 for policies arranged through Reassured.

Whether or not an over 50s plan is cost-effective is likely to depend largely on your age and health.

Generally speaking, over 50 life insurance is more expensive than other policy types with a comparable sum assured.

This is because insurers calculate the cost of your premiums based on the likelihood of a claim.

Due to the lack of medical information, it is impossible for insurers to assess this risk accurately. As a result, the risk is offset by hiked premiums.

This may benefit you if you are older or in poor health, as declaring your well-being could increase traditional life insurance premiums to such an extent it becomes unaffordable.

In contrast, those at the opposite end of the scale may be paying inflated over 50s premiums when they could be benefiting from their good health and younger age.

The table below shows how much cover you could secure at each age, with an over 50s plan, for a premium price of £20 per month. Quotes are based on a non-smoker:

Sum assured£7,417£6,108£5,217£4,078£3,015£2,137£1,538

Over 50 life insurance premiums

All over 50 plans provided through Reassured boast fixed premiums, meaning your monthly payments never increase.

As time passes, however, circumstances may change (such as retirement) affecting your monthly budget.

Some insurers offer the ability to reduce your premiums in line with your sum assured, allowing you to maintain some cover at a lower cost.

Additionally, many over 50 plans only require you to pay life insurance premiums until a certain age, (although, the cover remains valid for life).

This is usually the policy anniversary following your 90th birthday or 30 years after the policy start date.

Most over 50s providers also have a maximum premium price, for example with SunLife this is £74.

However, if you have multiple policies with SunLife, the maximum combined premium is £100.

Waiting period (or qualifying period)

Whilst acceptance for an over 50s plan is guaranteed, insurers mitigate their risk by implementing a waiting period.

This is a set period of time at the beginning of the policy where, if you die of natural causes, a pay out is not issued.

The waiting (or qualifying) period varies between insurers but is usually 12 or 24 months.

If you pass away within this period, due to natural occurrences, any premiums paid will be refunded.

In some instances, life insurers will also offer a token pay out, (e.g. 50% of premiums paid).

During this waiting period, most policies include full accidental death protection.

This means, if you were to die from an accident or unforeseen circumstances, a full pay out will be made.

SunLife over 50s life insurance

SunLife is the UK’s leading provider of over 50 life insurance, with their ‘guaranteed over 50 plan’ being the most popular on the market.

Key benefits of SunLife over 50s cover:

  • Highly rated with a 5* Defaqto rating
  • Available to those aged 50 - 85
  • Sum assured up to £18,000
  • Maximum premium price for one plan £74 (£100 for multiple policies)
  • Funeral benefit (+ £250 contribution)
  • Premium cap option (PayStop) can be added to policy
  • Premiums from just £5-a-day through Reassured

Those aged 50 - 85 are guaranteed acceptance to a SunLife over 50s plan, without the need to provide any medical information.

Your loved ones will also be guaranteed a pay out after your passing (SunLife have an impressive pay out rate, with 100% of claims paid out).

The maximum sum assured you can take out with a SunLife plan is £18,000. The maximum premium price is £74 (or £100 across multiple policies).

At Reassured, we can compare SunLife over 50 life insurance quotes with other leading over 50 providers to help you find the best deal.

One Family over 50s life insurance

One Family are another leading provider in the UK of over 50 life insurance.

Key benefits of One Family over 50s cover:

  • Highly rated with a 5* Defaqto rating
  • Available to those aged 50 - 80
  • Sum assured up to £20,000
  • Funeral benefit (+ £300 contribution)
  • Maximum premium price £75
  • Terminal illness cover included
  • Premium payments cease at 90
  • Premiums from just £10 a month through Reassured*

Their over 50s plans are available to those aged 50 - 80 and loved ones will be guaranteed a pay out after your passing.

The maximum sum assured you can secure with One Family is £20,000 (through one single policy or through multiple policies).

The maximum premium price you can secure is £75.

Unlike many other providers, One Family also include terminal illness cover with their over 50s plans. This will allow you to make an early claim if you’re diagnosed with a life-threatening illness and predicted to pass away within 12 months.

One Family life insurance quotes can be compared through Reassured. Why not get in touch to use our award-winning broker service?

Life insurance vs life assurance

Although often referred to as over 50 life insurance, an over 50s plan is actually a form of life assurance.

The key difference between life insurance vs life assurance is whether or not a pay out is guaranteed, (or assured).

Life insurance pays out if you die during the policy term.

Life assurance lasts for the rest of your life and therefore, pays out when you die.

Over 50s plan vs funeral plan

Over 50 life insurance is commonly taken out to help pay for a funeral.

Choosing between over 50 life insurance or a funeral plan will depend on what you are looking to cover.

For example, if you’d like to leave behind a cash sum for your loved ones to spend how they wish: for your funeral, future living costs, a nest egg etc, then an over 50s plan would be more suitable.

Or, if you want to ensure that your funeral costs are paid for in advance and that your send-off will be carried out according to your wishes, then a funeral plan may be the best option.

The cost will also influence the type of cover you choose.

Comparing quotes for over 50 life insurance and a funeral plan will help you discover which offers the cheapest monthly premium for you.

This table shows the key differences between both these options:

Over 50 life insuranceFuneral plan
Lump sum cash pay out when you pass away List icon Cross
Guarantees to cover your chosen funeral services when you pass away Cross List icon
Guarantees acceptance (no medical questions) List icon
(ages 50 - 85)
List icon
(ages 50 - 85)
Fixed monthly premiums List icon Cross
Automatically exempt from inheritance tax (IHT) Cross
(write in trust to avoid/minimise IHT)
List icon
Plan the funeral so loved ones don’t have to when the time comes Cross List icon

Secure a funeral plan through Reassured beginning from as little as £19.18^ a month.

Over 50s vs term-based life insurance

It’s still possible to secure term life insurance over the age of 50.

However, whether this is an affordable option for you or not will depend on your personal circumstances.

As you get older, the cost of premiums increases due to the increased likelihood of ill health and making a claim.

If you have previously struggled to secure term-based cover due to your age or health complications, an over 50s plan can be a great option - offering guaranteed acceptance and requiring no medical information.

However, insurers are likely to mitigate the unknown risk by offering lower levels of cover (often capped at £20,000) than with a term policy.

For those at the younger end of the age range, or for those in particularly good health, the opposite may be true.

Term-based life insurance offers a much larger sum assured which insurers are happy to provide as the information gathered during application allows them to accurately determine risk.

You should also consider what you want to protect when conducting a term vs over 50s comparison.

At the age of 50, you may still have a mortgage and some outstanding debt, whereas a 70-year-old is likely to have cleared their mortgage.

Finally, it is important to remember that term-based life insurance only pays out if you die during the set term.

Whereas an over 50s plan lasts for life and pays out when you die.

The table below shows a cover amount comparison between a level term life insurance policy and an over 50s plan. Quotes are based on a premium of £20 for a non-smoker:

AgeOver 50s planLevel term life insurance
(20 year term)
(20 year term)
(20 year term)
(10 year term)
(10 year term)
(10 year term)
(5 year term)

Over 50s vs whole of life insurance

Like an over 50s plan, whole of life insurance is a form of life assurance.

This means that cover lasts for life and your loved ones are guaranteed a pay out.

The key difference between whole of life and over 50s, however, is the medical information required at the point of application.

Unlike an over 50s plan, whole of life insurance takes into account all of your medical information.

Therefore, those in poor health could end up paying significantly higher premiums if they were to take out a whole of life policy.

Whereas, younger and healthier applicants are likely to benefit from lower premiums as risk can be accurately assessed.

Another thing to consider when choosing between these two policy types is the amount of cover you’re looking to obtain.

Whole of life insurance can provide a much larger sum assured (up to £1,000,000). However, due to cover lasting for life, premiums for a large sum assured can be expensive.

Especially if paying these premiums for the rest of your life.

Generally speaking, the sum assured available with an over 50s is often capped at around £20,000 (although this can vary between providers).

If you are looking for a significant amount of cover, an over 50s plan may not be suitable.

With both policy types, it is possible to pay more into your policy than the sum assured, depending on how long you live.

However, some over 50s plans come with an age at which you cease making premium payments, (although your cover continues for life).

This is often the policy anniversary after your 90th birthday or 30 years after the start of the policy.

The table below shows a cover amount comparison between a whole of life insurance policy and an over 50s plan. Quotes are based on a premium of £35 for a non-smoker:

AgeOver 50s planWhole of life

Joint over 50 life insurance

Unlike other forms of life insurance, unfortunately, it is not possible to obtain joint life insurance with over 50 plans.

The presence of two lives on a policy further increases the likelihood of a claim being made.

Due to no medical information being disclosed, the risk to the insurer is unknown, therefore they do not wish to increase this risk further.

Over 50 life insurance with free gift

Many insurers offer over 50 life insurance with free gifts as an incentive to take out cover.

Often this takes the form of a £50, £75 or even £100 Amazon/M&S voucher.

However, the value of a free gift versus the premiums paid over the term of the policy is insignificant.

Whilst a free gift is nice in the short-term, the most important thing long-term is to secure the right policy, at the best price.

Over 50 life insurance for smokers

Typically, life insurance costs more if you smoke because of the increased risk you pose to the insurer.

However, with an over 50s plan, this may not be the case and your premiums may remain unaffected by your smoking.

Some insurers account for your smoking status even though no other medical information is gathered, whilst others will not even ask the question.

Therefore, as a smoker, it is best to use an insurer who does not take this information into account when calculating premiums.

As a result, it is best to compare quotes from multiple insurers to ensure you are getting the best deal.

The table below shows a price comparison between the an over 50s plan for a smoker vs a non-smoker:

AgeMonthly premium for a smokerSum assuredMonthly premium for a non-smokerSum assured

As you can see from the table, being a smoker can impact the price you pay for an over 50s plan.

While in some instances you may pay the same premium price (due to some providers having a maximum premium price) the level of cover you’ll be offered when you reach this threshold will be lower than that of a non-smoker.

We have written a comprehensive article on life insurance for smokers you may like to read.

Multiple over 50 plans

Like traditional life insurance, it is possible to have multiple over 50 life insurance policies.

The sum assured for over 50s plans tends to be much smaller than term-based or whole of life policies.

As a result, you may require multiple policies to ensure you have enough coverage to meet your needs.

Insurers tend to have an upper limit which they will cover you for, whether this is from one or multiple policies.

For example, One Family will allow you to take out a maximum of £20,000 as one policy or across multiple policies.

Therefore, if you are looking to exceed this amount, you may have to take out policies with different insurers.

As previously mentioned, over 50s plans tend to be more expensive than standard cover.

So, when considering taking out more than one policy, establish whether this is a cost-effective option.

What if you are aged in your 60s, 70s (or even 80s)?

An over 50s plan could still be a great policy option when in your late 60s or even 70s.

However, ultimately, it depends on your individual circumstances; age, health, budget and what you need to cover.

We have produced three in-depth articles which delve into the different options available to those in their 60s, 70s and 80s:

Funeral benefit option

Many over 50s plans now come with the chance to select a funeral benefit option.

It is very common for the proceeds from over 50 life insurance to be used to fund your funeral.

Therefore, you can choose for the policy pay out to go directly to a funeral director.

The particular funeral director is usually specified by the insurer with whom you arrange your plan.

The funeral director will then work with your loved ones to plan your ceremony.

If you choose this option, it is important to read the terms and conditions associated with your particular plan.

Usually, if the sum assured is not sufficient to cover the cost of your funeral, the balance will be requested from your loved ones, whilst any excess is gifted back to them.

This option is also likely to result in some form of a discount from the funeral director, such as 10% off or a gifted bonus.

If it is purely your funeral you are looking to cover, you may find it more beneficial to take out a prepaid funeral plan.

Writing your life insurance in trust

By writing your over 50 life insurance in trust you sign your policy over to a trustee upon your death, similar to an executor of a will.

This detaches the proceeds from your policy from forming part of your estate. Potentially reducing the inheritance tax you pay, (40% on everything over £325,000).

Writing your life insurance in trust also means that it is not required to go through probate before funds can be distributed.

As a result, your family will receive the policy proceeds faster.

Finally, it also allows you to specify how you would like the pay out to be distributed, (at the discretion of the trustee).

This provides greater control, ensuring your legacy is received by those you chose.

Reassured's free trust service

Writing your life insurance in trust does not have to be complicated.

It simply involves filling in an application form, provided to you by the insurer.

At Reassured we are able to offer a free trust service on the majority of the policies we arrange, where our trained staff can guide you through the process.

We offer step-by-step guidance, ensuring your form is filled in accurately and fulfilling your wishes.

Over 50 terminal illness cover

Due to the increased risk to the insurer, as no medical information is provided from you, most over 50 plans don’t include terminal illness cover.

This is the ability to make an early claim if you were diagnosed with a terminal illness and given less than 12 months to live.

The exception to this, is One Family who offer terminal illness cover with their over 50s plan.

Making a claim

When the day comes, accepting the loss of a loved one is never easy.

Your loved ones will need to contact your provider to let them know of the death.

It’s likely they’ll be asked to complete a claims form, which should be sent back to the insurer, along with a copy of the death certificate.

Over 50s plans are renowned for a fast pay out, alleviating the financial stress on your family at an already difficult time.

For policies purchased through Reassured, we’ll do everything possible to offer our utmost support to your loved ones at this time.

A simple call to Reassured and we’ll answer any questions they may have and provide guidance throughout the claims process.

Key benefits of an over 50s plan:

  • Guaranteed acceptance aged 50-85, (even if in poor health)
  • No medical information or exam required
  • Quick and easy application process
  • Premiums may stop at a certain age, although cover remains intact for life
  • Fast pay out when a claim is made

Compare over 50 life insurance quotes

As with all life insurance, the cost of over 50 plans can vary significantly between insurers.

When arranging cover it is best to compare quotes to ensure you are receiving the right cover, at the best price.

At Reassured, we can do the hard work for you and our award-winning quote service is free of charge to use.

Our dedicated over 50s team will:

  • Compare over 50 life insurance quotes
  • Present you with the best available quotes, so you can make an informed decision
  • Complete the policy application
  • Ensure you understand all necessary aspects of the process
  • We can also help you write your policy in trust, (if required)

Get in touch today and take the first step towards securing the financial future of your loved ones.


^£19.18 per month is based on a 50 year old buying a SunLife Traditional plan with premium increases of £0.95 per year rising to £38.18 per month. Premiums will vary depending on your age and the plan you choose. Plans only available to UK residents aged 50-80. This Policy is a life insurance policy which, after the first two years following the Policy Start Date, provides a Cash Sum on your death. Pricing correct as of 1st February 2022

[1] SunLife (2021), Cost of Dying Report, sunlife.co.uk/costofdying2021

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