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Over 50s life insurance

Compare life insurance for the over-50s with Assured Futures

  • Guaranteed acceptance
  • No medical questions
  • Compare quotes from eight providers

Why life insurance for the over-50s?

Life insurance is designed to provide for your loved ones and dependants if you pass away or are diagnosed with a terminal illness during the length of the policy. 

Life insurance is often taken out by young families or couples with mortgage commitments, but there are plenty of policies designed specifically for people who are 50 or older – all the way up to 85 and beyond.

It works like any other type of life insurance - you pay an agreed monthly premium, and when you die your insurer pays a lump sum to whoever you named on your policy.  The money can be used for your funeral costs, to pay off existing debts or simply as a gift for your loved ones.

How to find the right over-50s life insurance

We’ve teamed up with Assured Futures, our chosen partner for life insurance policies that are specifically designed for people who are 50 and over. Here’s how it works:

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It doesn't take long

Fill in a few details about your age, health and circumstances and you’ll be able to compare life insurance quotes quickly

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Compare your options

Based on your answers, including how much cover you want and any add-ons you ask for, we show you a wide range of options

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Buy online

Some prices will be accurate, guaranteed and underwritten, so you can buy immediately online. For others you’ll need to confirm details with the insurer

What’s different about life insurance for over-50s?

There are a few key things to remember when looking into life insurance when you’re older. These include:

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    Guaranteed acceptance

    Most insurers will accept you whatever your health situation and financial status, and you won’t have to answer questions or pass any tests

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    No cash-in value

    Over-50s life insurance isn’t an investment plan and has no cash-in value, and if you don’t keep paying your premiums, it’s worthless

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    Fixed premiums

    Most over-50s policies fix their premiums for the duration of the policy, with monthly payments of between around £10 and £50 

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    Minimum payments

    Most insurers insist you pay into your plan for a year or two before you qualify for the full payment. Under that, and you get your premiums back

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    Fixed pay-outs

    The majority of policies pay out a sum agreed at the outset, whether you die after three years or 30, with a typical maximum of around £25,000

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    You could pay in more than you get

    If you live for a long time it’s possible to pay in more than you receive at the end – especially if you take a policy out at 50

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    Write the policy ‘in trust’

    Your beneficiaries could be liable for 40% inheritance tax on what they get, so ask your financial adviser about writing your policy in trust

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    Watch out for inflation

    Fixed pay-outs are vulnerable to inflation: if you agree a £10,000 policy at 50, it will be worth less than you think in 30 years’ time

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    Free cover

    Insurers often waive premiums for those who live past a certain age – usually 90. You’re still covered but you no longer have to make payments

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    Funeral benefits

    As funeral expenses can mount up, you may want to set money aside to help your loved ones. Your insurer may have specific funeral options

Rose Howarth

Our expert says

"Over-50s life insurance is a great way to help your loved ones cope with your funeral costs, and perhaps even to leave them a gift. “MoneySuperMarket, in association with our specialist partner Assured Futures, can provide competitive quotes and offers gift cards from some of our 50-plus insurers."

- Rose Howarth, head of life insurance

Which brands do we work with?

We compare many of the leading life insurance brands for the over-50s, including:

company logo for shepherds friendlycompany logo for national friendlycompany logo for legal & generalcompany logo for SunLifecompany logo for national assurancecompany logo for One familycompany logo for Royal London

If you have a steady income which your family might not be able to do without, a life insurance policy is a good way to make sure they can survive without you. Likewise, if you have a mortgage your partner may struggle to pay on their own, life insurance can help

Yes. Most over-50s life insurance policies are offered without medical tests or questions. However, they do tend to come with minimum claim periods.

These are usually one or two years – if your dependants make a claim before the period has passed, they won’t get a full pay-out. This means that over-50s life insurance isn’t worthwhile for many people with a terminal illness, for instance.

Putting your life insurance policy in trust lets you name the people you want to receive your life insurance payout (your trustees).

There are different types of trusts available depending on your individual or family circumstances.

Putting your life insurance policy in trust also protects the payout from inheritance tax.

Yes you can, though there are fewer insurers available to you the older you get. If you’re very old and looking for life insurance, you may need to seek out highly specialised providers.

There are a few insurers which offer increasing-term life insurance for the over-50s. In this type of policy, the payout and the premiums are reviewed every year in line with inflation.

This type of life insurance holds its value over time, which is a great benefit. However, you will need to be confident that you can keep up with the increased payments over the years, otherwise the cover will lapse.

MoneySuperMarket gives you lots of clever ways to save a lot, by doing very little.

  • Take control of your credit score by checking and improving it for free with Credit Monitor 
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  • Over 50 ways to Get Money Calm

So how do we make our money? In a nutshell, when you use us to buy a product, we get a reward from the company you’re buying from.

But you might have other questions. Do we provide access to all the companies operating in a given market? Do we have commercial relationships or ownership ties that might make us feature one company above another?

We commit to providing you with clear and informative answers on all points such as this, so we have gathered the relevant information on this page.