Compare Over 50s Life Insurance is a life insurance comparison website created to help users find the best possible over 50s life insurance quotes.  

We work with a leading Financial Conduct Authority (FCA) authorised intermediary, Howden Life & Health, who analyses and compares policies from major insurance providers with the sole purpose of finding the most suitable quotes for you. 

This service is entirely free to use, and you’re under no obligation to accept any quotes you receive.

The specifics of policies may differ slightly from insurer to insurer but usually involves the paying of a fixed monthly premium from when you accept a policy until you reach the age of 90.  

From this point, you no longer have to pay the premiums, but your coverage continues until death, at which point, your family will receive a fixed sum either as a gift or to contribute towards funeral expenses. But watch out — some insurers require you to continue paying your monthly price for as long as you keep the policy.

You do not need a medical to qualify for over 50s life insurance, which is part of the reason it’s such a popular policy.  

Typically, anyone between the age of 50 and 80 is eligible for this type of insurance — even those with pre-existing conditions. 

However, as you’d expect, over 50s life insurance carries a waiting period. 36 months is considered the norm. If you die before the waiting period comes to an end, the fixed sum will not be paid in full.

Over 50s life insurance policies tend to be quite flexible, allowing you to choose a suitable premium from a range presented by the insurer. The more you can afford to pay each month, the higher the fixed payout will be, but it’s essential not to overestimate what you’ll be able to pay moving forward. 

The key is to settle on a sustainable premium that you can budget for comfortably both now and in the future, as failing to meet payment obligations can lead to the cancellation of your policy. 

Over 50s life insurance is a subset of whole life insurance, designed to provide those over the age of 50 with simple and effective coverage that helps to support loved ones when the policyholder dies. 

The primary difference between over 50s life insurance and generic whole of life insurance is that eligibility for the former doesn’t rely on medical questions and a health assessment — while eligibility for the latter does. In other words, you’ll have to pass an insurer’s assessment of your health to qualify for standard whole of life Insurance, but a comprehensive medical is not necessary to secure an over 50s life insurance policy. 

Regular term life insurance covers a specified period of your life, promising to pay out if the worst were to happen and you were to die unexpectedly. By contrast, over 50s life insurance guarantees a payout when you die. 

Term life insurance is ideal for protecting mortgages and families when children are dependent, but as it has a fixed end date it is no good for end of life planning and funeral costs, as you will run out of time and hopefully outlive the policy. 

If you cancel within the first 30 days there is absolutely no cost. Beyond then you only pay for what you use, you can cancel your policy at any time and the payments will stop the next month. There is no cash in value with these plans, so this means forfeiting any premiums paid.