Over 50s Life Insurance

Your cover begins as soon as your completed application for Over 50s Life Insurance was processed. 

However, because we didn’t ask any medical questions, there is a 12-month qualifying period.

During this time:

• If you die from an accident, we will pay the full cover amount.
• If your death is from other causes within the first year, we will pay 100% of the premiums you have paid so far. 

After the 12-month period, full life cover applies regardless of the cause of death, as long as your premiums are up to date.

If your circumstances change and you can no longer pay, please contact us. We may be able to help by reducing your premium or making your policy paid-up, allowing you to still receive a payout on death (terms and conditions apply).

The payout on your death is free from UK Income Tax and Capital Gains Tax. However, it may be considered part of your estate and could be subject to Inheritance Tax. We cannot provide tax advice, so if you’re unsure about your tax position, please consult a professional. Please note that tax rules may change in the future.

No, like other life insurance products, this policy has no cash value at any time. As long as you continue paying your monthly premiums, it will pay out only upon death.

You pay premiums until age 90, after which they stop, but your coverage will continue for life.

No, your premium and life cover amount are fixed from the start and remain the same until age 90. However, costs you may use your life cover for, such as funeral expenses, can rise with inflation, which means the pay-out's real value may decrease over time.

It’s a good idea to review your coverage from time to time to ensure it continues to meet your needs.