Over 50 plans

Over-50 Plans

Over-50 plans, also known as guaranteed whole of life plans, provide a guaranteed tax-free lump sum payment when you die. This cash payment can be useful if you wish to put it towards funeral costs or leave it to someone. Over-50 plans are only available to people over the age of 50.

Over-50 plans typically offer

a guaranteed acceptance for this cover
fixed premiums payable for life or to a specified age
cover with no medical disclosures or underwriting
full cover after an initial ‘moratorium’
a guaranteed sum payable on death

The amount paid out when you die depends on the premium you choose.

Next steps

If you have a policy, want to buy some cover, or just want more information:

read through your policy and / or talk to your insurer
talk to a financial adviser or insurance broker through unbiased.co.uk or the British Insurance Brokers' Association (BIBA) website to find out more about over-50 plans
shop around to find out more on how to buy the best type of over-50 plan for you