Over-50s life insurance FAQs
Q1:How would my family or friends make a claim for compensation?
To make a claim, your family or loved ones can either contact us by calling 0800 123 4567 or by submitting a claim online. Our teams of experts will ensure that the process runs as smoothly as possible.
Q2:Do I require a medical examination?
We won't require you to answer any health-related questions or undergo a medical examination. Additionally, we assure you that you will be eligible for our over 50 policy as long as you are between the ages of 50 and 80 and reside in the United Kingdom.
What happens if I stop paying my over-50 life insurance premiums?
In case you don't pay the monthly premiums for your over 50 life insurance policy before the premium term concludes, we will cancel your policy and your coverage will end 60 days after the last premium was due. Furthermore, you will not receive any refund for the premiums you have paid previously.
Q3:Can my partner take out cover as well?
Your eligible partner can also get coverage, but it will be a separate policy. When the first person passes away, their policy will pay out and end, while the second person's policy will remain in effect and pay out when they pass away.
Q4:Will my premium be raised?
Your premiums for the over 50 life insurance policy will remain the same, and they will not increase over time. You will stop paying premiums either after you have held the policy for 30 years or from the next policy anniversary after your 90th birthday, whichever comes first. Your coverage will persist until you pass away. Keep in mind that the total amount of premiums you pay may exceed the coverage amount you leave behind, depending on your lifespan.
Q5:Can I put my over 50 life insurance policy in trust?
Certainly, you can establish a trust, which is a lawful agreement that enables you to choose your beneficiaries - those who will receive the funds from the policy payout - and the trustees who will manage the process.
Q6:How much does over 50 life insurance cost?
You can get life insurance cover from £5 to £100 per month. You can either choose the amount you want to pay each month and we'll tell you how much cover that gives you, or you can choose the amount of cover you want and we'll tell you the monthly premium cost. More than half of our customers pay £35 or less per month for our over 50 life insurance cover.
Important information
If a claim is made within 12 months following a non-accident-related death, we will refund the premiums paid over the policy duration. This applies to all cases except accidents.
Your personal tax circumstances and tax laws, which may change over time, determine liability for tax. If you are concerned about your estate's tax liability, it is recommended that you speak to a financial adviser.