What is an over 50's Life Insurance Plan?

A life Insurance plan means that by making a regular montly payment should you die while the policy is in force you will be leaving a cash sum for your dependants which can be used how they wish.   Typically these life insurance plan premiums are fixed and won't change even if your health deteriorates. One thing to be aware of on many of the over 50's life insurance policies is that they won't pay out if you die in the first 2 years of the policy although they will normally pay the paid premiums back. This is because a number of the providers do not require a medical or any health questions answered.   These policies unlike say endowments also do not offer any cash in value so if you cancel the premiums your life insurance plan will cease and you won't get the premiums back.

Over 50's Life Insurance Providers

Sun Life Direct Guaranteed Over 50 Plan From just £6 a month the Sun Life Direct Guaranteed Over 50 Plan is an affordable way to leave your loved ones a fixed cash sum when you’re gone, and with this Plan you can be certain of the following: • Guaranteed acceptance for UK residents aged 50-85 – with no medical or health questions • Guaranteed fixed cash sum paid on death as long as you’ve been paying into the Plan for at least two years • Guaranteed fixed premiums from £6 a month that are payable for life. Please bear in mind that as the cash sum is fixed, inflation will reduce its value over time. Depending on how long you live, you could pay in more than the cash sum paid out and if you stop paying your premiums, your Plan will end and you won’t get anything back. As long as you keep paying your premiums you’ll enjoy the lifelong peace of mind this Plan provides.

Debenhams Life Insurance. Debenhams search leading providers to get you a life insurance quote in seconds, PLUS currently when you apply and take out a new policy on line you are entitled to a free £50 debenhams gift card with your direct online over 50's life insurance policy. (Your giftcard will be sent to you after you have made your sixth month's life insurance payment. This offer applies to new policies only)

Another popular provider of over 50's life insurance is legal and General. The Legal & General Over 50s Life Insurance Plans offer three options which allow customers to choose the plan that best suits their needs. Everyone’s different, so their Over 50s Plans are different too.  1. The Fixed Plan – gives you the certainty of having the benefit of a fixed cash sum paid out when you die. The premiums are guaranteed to never go up once your plan starts. Inflation may, over time, reduce the value of the benefit of your plan. 2. The Increasing Plan – gives you the benefit of a cash sum paid out when you die, which increases in line with the cost of living as measured by the Retail Prices Index (RPI). Benefits and premiums will be reviewed each year. 3. The Funeral Plan – for those who want to ensure that the costs of their funeral are covered. The benefit of the Funeral Plan is that when you die the costs of a traditional cremation funeral (or a contribution towards the costs of a burial) are paid directly to Dignity, who will arrange the funeral through their network of funeral directors. This plan benefit and premium will also increase in the same way as the Increasing Plan. You will also get a free gift of £50 of M&S vouchers if you take out a legal and general over 50's life insurance policy online

Scottish Friendly Assurance are a mutual so are owned by their members with policies, not shareholders. They are currently offering over fities life insurance for online applications with a free gift of £15 of M&S vouchers after your plan has been set.