The good news is, it's possible to get life insurance over…
Yes, it's possible to secure over 80s life insurance in the UK.
It's not too late to help protect your loved ones from major expenses, such as funeral costs, after you're gone.
Even in the later stages of life, you may still have a number of options available to you.
Over 80 life insurance policy options available through Reassured include:
An over 50s plan may be the most suitable life insurance policy for over 80s, as this policy type guarantees acceptance to people aged 50 - 85.
You may consider whole of life insurance if you’re in your early 80s and in good health. The application process includes questions about your health and medical history.
This type of policy only pays out if you pass away during a specified term. The application process includes questions about your health and medical history.
Make the most of our award-winning broker service to compare multiple quotes for life insurance.
We’ll do our best to help you find a suitable policy, at the best price we can offer you. Get your free, no-obligation quotes today.
Read on to learn all about your over 80 life insurance policy options...
As you enter your 80s you may ask whether you still need life insurance.
The answer is, it depends on your financial situation and whether you have sufficient savings.
Fortunately, people are living longer than ever before, however, this means our financial protection needs to evolve too.
Generally speaking, if you have dependants such as grandchildren, children or a partner, it may be beneficial to have some form of cover.
Whilst it’s likely you won’t require life insurance to cover a mortgage, there may be other costs to consider:
The best life insurance will vary depending on what it is you're looking to cover.
Each policy type is better suited to protecting different aspects of your life.
And the cost is heavily influenced by the type of cover you require, as well as your personal circumstances.
At Reassured, we can provide you with all the information you need to help you decide which policy may best suit your needs.
The cost of life insurance is calculated based on a number of factors.
Each of these aspects are taken into account, the level of risk would be assessed, and your premiums priced accordingly.
As a result, due to your older age, it's likely your premiums will be more expensive than your younger counterpart.
However, it's still possible to secure affordable life cover with an over 50’s plan from just 20p-a-day+.
Contact our award-winning team who'll compare quotes to help you secure the best deal we can offer you from our panel of top UK insurers.
As a result, this cover could be ideal for anyone within this age range who has experienced poor health.
With this type of policy your family will be assured a pay out after you're gone, (as long as you pay your premiums).
The exact pay out amount you can get will depend on various factors such as your age, budget and your smoking status.
Your family could use the money from this policy to help cover your funeral costs, clear outstanding debts or as an inheritance.
Premiums can stop at the age of 90 with some insurers, however, your cover would continue until you pass away.
The waiting period, (before a claim can be made)
Whilst acceptance is guaranteed on an over 50s plan, insurers mitigate their risk by implementing a waiting period.
The waiting period starts at the beginning of the policy and lasts 12 or 24 months depending on the insurer.
It means if you were to pass away due to natural causes before this period has elapsed, no pay out would be made. (However, all premiums paid would be refunded).
To determine whether an over 50s plan is the best solution for you, simply get in touch.
Our team will provide you with all the information you need to make an informed decision.
Key benefit: Guaranteed acceptance for all UK residents aged 50 - 85 and no medical questions or exam on application.
A whole of life insurance policy is guaranteed to pay out a cash lump sum to your loved ones after you pass away, (as long as you pay your premiums).
This policy type tends to provide a higher sum assured than an over 50s plan and is commonly used to help cover funeral costs, outstanding debts, or to provide an inheritance.
Whole of life can also be used to help cover any loss from inheritance tax, (if your estate is worth over £325,000).
You could also avoid or minimise inheritance tax by writing your policy in trust - meaning a quicker and larger pay out for your family.
To secure this type of cover and obtain affordable premiums as a senior citizen, you would need to be in relatively good health and without any long-standing illnesses.
Life insurance providers that offer whole of life cover for over 80s are few and far between.
However, at Reassured, we may be able to help applicants up to the age of 84 secure this type of policy.
Get in touch and we can compare quotes to help you determine if whole of life is right for you.
As with all policies, monthly premiums can vary significantly from insurer to insurer. So, it's best to compare quotes.
Key benefit: Guarantees a pay out when you pass away and you could secure a larger pay out sum, compared with an over 50s plan, (if you're in good health).
The most common form of life insurance, term life insurance, provides cover for a specified period of time (the term).
Once the term of the cover has expired, the policy finishes and if you didn’t pass away, no pay out is issued.
Some insurers offer term-based cover to applicants aged 80 – 86. The maximum term you could be offered will depend on your age, as the policy must expire once you turn 90.
For example, if you took out cover at the age of 80 then the maximum term offered would be 10 years, whereas if you took out cover at age 86 the maximum term offered would be 4 years.
When applying for term life insurance, your health and smoking status could impact the success of your application.
If you need more help determining if this type of policy is right for you and to compare quotes, contact our award-winning team.
Life insurance and funeral plans are very different products, both offering their own range of benefits.
The option that’s right for you will depend on your personal circumstances.
Please note, Reassured are unable to sell funeral plans. If you are looking for a funeral plan we suggest you check the FCA register to find a regulated provider.
For someone over 80, a life insurance policy may be more affordable and could offer a higher level of cover than a funeral plan.
Life insurance also makes more sense if you want to leave a cash sum for your loved ones to spend how they see fit.
The table below shows the key differences between an over 50s plan, whole of life insurance and a funeral plan.
|Over 50 plan||Whole of life||Funeral plan|
(aged 50 - 85)
(age restrictions may apply)
|No medical questions|
|Quick & easy application|
|Guaranteed pay out||
(pays out to beneficiaries)
(pays out to beneficiaries)
|Financial Conduct Authority (FCA) regulated|
If you’re looking to help cover the cost of your funeral with life insurance, contact Reassured to find out the most suitable option available to you.
Once your life insurance has been arranged, it won't be affected by your age.
Typically, the cover agreed at application will remain valid and unchanged until a pay out is made, even after you pass 80.
However, there are two exceptions.
Firstly, most life insurance providers will only provide term life insurance until an upper age limit.
Cover arranged through Reassured has an upper age limit of 86.
If you have a term life insurance policy, it's important to be aware of how long your cover lasts and to understand at what age the cover will cease.
Secondly, some over 50s plans only require you to make premium payments for a specified number of years.
At this point in time, premium payments will cease but cover will remain in place for the rest of your life.
Typically, this is on your 90th birthday or 30 years into the policy.
This will vary between providers and it's important to review your individual policy.
Critical illness cover allows you to make a claim on your policy if you were diagnosed with a critical, yet not terminal, illness.
However, due to the high-risk to the insurer, it’s not possible to arrange critical illness cover in your 80s.
At Reassured, all term-based policies come with terminal illness cover as standard.
This means that if you're diagnosed with a terminal illness and given less than 12 months to live, you can make an early claim.
An early pay out could be used towards paying for medical treatment, to get your financial affairs in order or spend on your family.
Joint life insurance covers two lives simultaneously and pays out only once normally upon the first death.
Unfortunately, an over 50s plan cannot be taken out as a joint policy.
However, it may be possible for two people in their senior years to take out whole of life insurance as a joint policy.
This means there would be a guaranteed pay out when one partner passes away.
As joint life insurance expires after the first death, the surviving partner would be left unprotected. And, at an older age (perhaps beyond their mid 80s), they may struggle to secure a new policy.
Two single policies would provide two pay outs which could help to cover both funeral costs and perhaps to provide a financial gift for children and/or grandchildren.
As your parents enter the later stages of life, it's not uncommon to look at arranging life insurance on their behalf.
It's possible to do this, however, the rights to the policy will remain in the policyholder’s name.
This means that initiation of the policy, changes to the policy, trust agreements and cancellation will require their permission.
The various policy types discussed previously are all available to arrange on behalf of your elderly parents. However, if medical questions are required then the policyholder will have to complete these with one of our consultants.
Simply get in touch with Reassured today to determine the options available to you.
Writing your life insurance in trust enables you to ensure that your loved ones benefit fully from your policy.
The person you place in trust (the trustee) would manage the pay out and ensure it's distributed according to your wishes.
At Reassured we're able to offer a free trust service on the majority of the policies we sell, where our dedicated team can help you through the application and answer any questions.
There could be a number of reasons why you've decided now is the time to make financial provisions.
A major life event or the loss of a loved one may have been the prompt to research your options.
Or it may simply be that you've reflected on how your loved ones would cope financially if you were to pass away.
Particularly if you were to leave behind an elderly or vulnerable dependant.
In any case, preparing for the future financial security of your loved one's will provide peace of mind for your remaining years.
Looking for life insurance when you're over 80 can be tricky.
However, finding the right cover at a price to suit your budget could be achievable by comparing quotes, (as prices can vary).
You can use an award-winning life insurance broker such as Reassured, to compare quotes from a panel of insurers, saving you time and money.
We can also help you with the application process, explain any jargon and ensure that you have all the information required.
Lastly, our broker service is completely fee-free - so why not seize the day?
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Yes very pleased with my choice very helpful easy to understand and very pleasant transaction all good!Mrs M Rushworth
Very professional and reassuring. Life insurance sorted in about 10 minutes.Stephen Davies
very courteous and friendly. Polite professional and empathic.Stedroy Fenton
Another happy customer I am. They are very professional and kind. Fully communicative. I recommend.Piotr Stepien
Really attentive during the call, good clear guidance throughout. Well done.Michael Reynolds
Amazing service quick fast and easy and Joey was a star on the phone really help me thanks.Sera Woolley
I made the right choice and now I feel relieved that I did.glyn
Really genuine kind and compassionate team with great knowledge and friendly approach highly recommend them!Katelia Merritt
I must say Jake took me through every step and was brilliant, recommend them anytime.Allan Green
Very happy and everything explained well, so glad a took the time to take the call, normally I would say I'm busy. But compared to other company's we save so much more money.Jenny Berry