Good reasons to buy
We guarantee they'll never go up
After just one year. Some others make you wait two years.
Guaranteed acceptance - no medical
50 to 80 year old UK resident? You're in!
Compare over 50 life insurance with our calculator
Payout Promise to protect a payout, flexible payments to keep you insured and more
Payout Promise †?
Payout Promise †?
Features comparison information was correct on 13th May 2020. Features could change at any time. Ts&Cs of the policies are not the same but each provides insurance that could pay out money when you die.
†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 half way through paying for your policy. That's halfway from the start of the policy until the policy anniversary date after you turn 95. You stop paying at that policy anniversary or when you die, whichever comes first.
What is Over 50 Life Insurance?
Our Over 50 Life Insurance is a simple way to leave your loved ones money when you die, as a gift or to help pay for your funeral. As long as you're a UK resident aged 50 to 80, you're guaranteed acceptance with no medical.
What happens if I die during or after the first year of my policy?
If you die in the first year of your policy, we return your payments.
If you die in an accident (as defined in our terms and conditions), in the first year of your policy, we pay out the full amount.
If you die after the first year of your policy, the full sum assured will be paid out.
How long does it take for a successful claim to be paid?
As soon as the claim has been approved and we have all the paperwork we’ve asked for, we make the payment via BACS transfer. The funds usually clear within three to five working days.
You can find out more about making a claim here.
Do you do payment holidays?
If you stop paying altogether you could lose your insurance. We want to keep you covered and our Over 50 Life Insurance has ways to help you do that:
Flexible payments – you can reduce your monthly payments by bringing down your payout amount, as long as you’re paying at least £3.95 a month.
Payment holiday - After your first year, you can have a break from making your monthly payments for up to six months - and still stay insured. Not all providers let you do this.
You'll have to make up the missed payments or reduce your payout amount after your payment holiday finishes.
You can have up to two payment holidays during your policy – only one can be taken within any twelve month period.
Payout Promise – If you need to stop paying altogether, we promise that 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 95. You stop paying at that policy anniversary or when you die, whichever comes first. Many don’t give you this protection.
How does Over 50 Life Insurance work?
Choose how much you can afford each month to leave your loved ones some money, as a gift or to help pay for your funeral. The maximum payout you can get is £10,000. The more you pay each month, the bigger the payout your family could get.
I’m over 60 and looking for life insurance. Do I qualify?
Yes. As long as you're aged 50 to 80 and a UK resident, you qualify for Over 50 Life Insurance from Royal London.
Find out more about Over 60 Life Insurance.
How much insurance can I have?
You can choose a monthly payment of up to £100 depending on your age, and the maximum payout amount is £10,000. You can have more than one Royal London Over 50 Life Insurance 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 it last?
Your Over 50 Life Insurance 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 95th birthday, or if you die, whichever comes first, but your insurance will continue for the rest of your life.
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 95th birthday. If you stop making your payments before you're halfway through your payment term your insurance 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 cancel or cash in my policy?
No, you cannot cash in your policy at any time. Over 50 Life Insurance only pays out on your death.
You can cancel your policy at any time. If you cancel within 30 days of starting your insurance, 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 insurance, 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 95. You stop paying at that policy anniversary or when you die, whichever comes first.
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 insurance you can have is £10,000 or a maximum monthly payment of £100.
Can I increase my insurance?
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 insurance you can have is £10,000 or a maximum monthly payment of £100 across all Over 50 Life Insurance policies taken out through Royal London.
How long do I pay for?
You pay to the policy anniversary date after you turn 95, 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.