Good reasons to buy
They'll never go up
After just one year
Guaranteed acceptance - no medical
50 to 80 year old UK resident? You're in!
Compare over 50 life insurance with our calculator
Fairer cover to protect a payout, flexible payments to keep you covered and more
Full Cover after 1 year?
Fairer Cover †?
Full Cover after 1 year?
Fairer Cover †?
Information for our comparison is obtained online and checked frequently. The table above shows how we compared to some other providers on the 1st April 2019, however features can change at any time.
†If you need to stop paying your family could still get part of the payout – see Fairer Cover below for details.
Frequently asked questions
How does Over 50s Life Cover work?
Choose how much you want to pay each month, from £3.95 to £100, to leave behind up to £10,000 when you pass away. The more you pay each month, the bigger the payout your family could get.
Do I need over 50 life insurance cover?
Our Over 50s Life Cover is ideal if you'd like to leave your family money when you die, as a gift or to help pay for your funeral. You can start from just £3.95 a month, and if you’re a UK resident between 50 and 80, you are guaranteed acceptance with no medical.
How much life cover can I have?
You can choose any monthly payment between £3.95 and £100 depending on your age, and the maximum payout amount is £10,000. You can have more than one Royal London Over 50s Life Cover policies, but you cannot pay more than £100 a month across the total number of policies, and you cannot exceed the total payout amount of £10,000.
How long does the life cover last?
Your cover lasts until you die, providing you are up to date with your monthly payments. We will automatically stop collecting payments on the policy anniversary following your 90th birthday, or if you die, whichever comes first, but your cover will continue for the rest of your life.
How does my family make a claim?
Making a claim is simple and straightforward. We have a dedicated UK-based claims line. Our trained staff will deal with your family with kindness and sympathy, and will do everything to make sure their claim goes as smoothly as possible.
You can find out more about making a claim here.
Can I reduce my payments?
If you're feeling the pinch, rather than stop paying and risk losing all your cover, you can reduce it to bring your payments down. You just have to keep paying at least £3.95 a month. Some providers won't let you do this.
What if I stop making my monthly payments?
The policy is designed for you to make your monthly payments until the policy anniversary following your 90th birthday. If you stop making your payments before you're halfway through your payment term your cover will end and you'll get nothing back. If you stop after the halfway point, your family will get some money when you die.
Can I have a joint policy?
No, but you can have one each.
Can I cash in my policy?
No, you can't cash in your policy at any time. Our Over 50s Life Cover policy only pays out on your death.
Can I cancel my policy?
You can cancel your policy at any time. If you cancel within 30 days of starting your cover, we'll refund any payments you've made. If you cancel after that, you won’t get anything back. If you feel you can’t afford your cover, talk to us. We may be able to reduce it to bring down your payments.
If you need to stop paying, your family can still get at least half of the payout when you die, as long as you’re at least halfway through paying for your policy. That’s halfway from the start of the policy until the policy anniversary date after you turn 90. You stop paying at that policy anniversary or when you die, whichever comes first.
What is the Funeral Benefit Option?
The Funeral Benefit Option allows you to "charge" your Over 50s Life Cover policy to Dignity Funeral Services. This means the cash sum will be paid directly to Dignity when you die, and it will go towards the cost of funeral services. A Dignity Funeral Director must be used and Dignity will also contribute £300 towards the cost of the funeral. You can choose the Funeral Benefit Option when you apply for the policy or at any point afterwards - it's up to you.
If you decide to take out the Funeral Benefit Option, and remove it, unfortunately we won't be able to add it back on at a later date.
Unlike our Over 50s Life Cover, the optional Funeral Benefit Option is not regulated by the Prudential Regulation Authority or the Financial Conduct Authority.
Does the payout amount go up with inflation?
No. It's worth thinking about inflation, as prices increase over time and the payout you choose today may not be enough for your family in the future. If you would like a bigger payout, you can apply to take out an extra policy for as little as £1 a month. The maximum cover you can have is £10,000 or a maximum monthly payment of £100.
Can I increase my Over 50s Life Cover?
If you then want to leave more money for your family at a later date, you may be able to take out an extra policy from just £1. The maximum cover you can have is £10,000 or a maximum monthly payment of £100 across all Over 50s Life Cover policies taken out through Royal London.
How long do I pay for?
You pay to the policy anniversary date after you turn 90, or until you pass away, whichever comes first. It’s worth remembering that depending on how long you live for, you could pay more in than the money paid out when you die.
What happens if I die in the first year of cover?
If you die within the first year as a result of an accident, we will pay out the cash sum in full.
If you die within the first year, apart from an accident, we will refund everything you’ve paid us.
What happens if I die after the first year of cover?
If you die after the first year, as long as you have continued to make your monthly payments, we will pay out the cash sum in full.
If you have to stop making your monthly payments you may still be entitled to a cash sum when you die depending on when you stop.