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
Payout Promise to protect a payout, flexible payments to keep you insured and more
5 Star Fairer Finance Rating*?
Payout Promise †?
5 Star Fairer Finance Rating*?
Payout Promise †?
Features comparison information was correct on 14th February 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. *As rated by Fairer Finance, February 2020.
†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 90. You stop paying at that policy anniversary or when you die, whichever comes first.
Frequently asked questions
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.
Do I need Over 50 Life Insurance?
Our Over 50 Life Insurance is ideal if you'd like to leave your family money when you die, as a gift or to help pay for your funeral. If you’re a UK resident between 50 and 80, you are guaranteed acceptance with no medical.
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 life 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 the life insurance last?
Your 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 90th birthday, or if you die, whichever comes first, but your insurance 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 stop paying altogether you could lose your insurance. With us you can reduce your monthly payments by bringing down your payout amount, as long as you’re paying at least £3.95 a month with our flexible payments. 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 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 cash in my policy?
No, you can't cash in your policy at any time. Our Over 50 Life Insurance 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 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 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 50 Life Insurance policy to Dignity Funeral Services. This means the payout amount 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 50 Life Insurance, 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 insurance you can have is £10,000 or a maximum monthly payment of £100.
Can I increase my Over 50 Life 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 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 my insurance?
If you die within the first year as a result of an accident, we will pay out the payout amount 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 insurance?
If you die after the first year, as long as you have continued to make your monthly payments, we will pay out the payout amount in full.
If you have to stop making your monthly payments you may still be entitled to a payout amount when you die depending on when you stop.