Life Insurance For Those aged Over 60.

November 2012 - Guaranteed life cover for the Over 50's from Scottish Friendly. ompetitive rates for non-smokers.

Over 60's Life Insurance Review.


Many people in their 60's look to take out life insurance to leave a lump sum on their death so their family can cope with any loss of income and funeral expenses. Taking out life insurance once you reach 60 is more expensive than taking it out in your 50's but many people do take it out in their later years to give them the peace of mind that the family can pay the bills and have cash on their death. A number of companies have recognised the growing need to provide life insurance for those aged over 60 and in many cases no medicals or complex medical questionaires are required either.
Remember that Life Insurance plans for the over 60's are not savings accounts as they are designed to pay out on death only so if you stop paying the premiums you will get nothing back. 

It’s never too late to plan for your future and take out life insurance, but as you get older you may find it more difficult to get the cover you want, particularly if you’re in poor health or have suffered a serious illness. Maybe your house is paid off and your kids have graduated from college, but you still want your spouse to be taken care of. You might also be concerned about your family’s ability to pay your debts or funeral costs if you weren’t around. You may even wish to provide an estate to your children or grandchildren. The lump sum paid out on your death will normally be paid to your estate, and could be subject to inheritance tax. There are many reasons for people over 50 to take out life insurance.

That’s why they LV offer the 50 Plus plan, which guarantees to accept you onto the policy as long as you are aged 50 to 80 and a UK resident.

Unlike traditional life assurance, you can get covered with the 50 Plus plan regardless of any current health issues. You don't have to complete a lengthy questionnaire or take a medical before you get cover from them.


If you’re aged 50-85 and looking for life cover, from just £4 a month you can leave a fixed cash sum to loved ones when you’re gone, with the Sun Life Direct Guaranteed Over 50 Plan.


Over 50’s Guaranteed Protection Plan provides guaranteed life assurance for anyone aged over 50. You have life cover for as long as you pay your premiums. Full life insurance begins after your second year. If you die of natural causes within 2 years, full premiums are returned. For accidental causes, full life insurance will be paid. When you reach 85, you no longer pay premiums, but your level of life cover remains the same. Depending on how long you live, the total premiums paid may be more than the amount payable on death. If you stop paying before you’re 85, the cover will stop and the plan has no cash-in value. Remember inflation will reduce the buying power of the cash sum payable on death.


Life Insurance for over 60's.