Over 50s life insurance: Everything you need to know

What is over 50s Life Insurance?

To put it plainly, over 50s life insurance means that when you die, your policy pays out a predetermined lump amount to your nominated recipients, usually your loved ones. It is for persons aged 49 to 85, and regardless of how well or unhealthy you are, you can still receive a policy that would pay out a sum of money if you die because, unlike standard life insurance policies, coverage is not dependent on your health status or lifestyle.

It will give you peace of mind that your loved ones will have a lump sum that could meet funeral costs or outstanding liabilities like your mortgage, car loans or credit card debts when you pass away. A guaranteed payout will be given regardless of when you pass away but please check with your life insurance provider’s t & cs as there could be a minimum payment period.

Is over 50 life insurance any good?

This form of lifetime protection is a good option if you want to leave your family a guaranteed lump payment when you pass away. They could use the money to pay for your funeral, home renovations, a holiday, household bills, or whatever else they might need.

Do I Need Over 50s Life Insurance?

Whether or not you need life insurance depends on your situation, and everyone’s is completely different. Firstly, consider why you’re getting life insurance to figure out how much you’ll need. Is it to give a source of income for children who are young adults but yet rely on their parents? Is it to make sure your partner has enough to live? Is it to clear debts you owe?

Because the inheritance procedure takes time and the funeral cannot be funded straight from your estate, life insurance can be set in place to cover your funeral so that money is available to pay for it immediately.

You can also use life insurance to pay an anticipated inheritance tax (IHT) bill, as this tax must normally be paid before the probate procedure can be completed, which means your beneficiaries will have to come up with the funds.

Which is the best over 50s life insurance?

There is no single best supplier, the sums vary according to your age and the amount you pay in. However, what Hilltop Finance can do for you is look at your personal situation and find the best over 50s life insurance specifically for you. 

How Much Does Over 50s Life Insurance Cost?

The cost of over 50s life insurance totally depends on how much you want your lump sum payout to be, the more you pay in premiums, the higher the sum paid out is. So, for example, if you pay £15 a month the payout when you pass away will be considerably lower than if you were to pay a premium of say £90 a month. At Hilltop Finance, our advisors will make sure that you opt for the best option that suits your needs and budget. 

Over 50s Life Insurance with Hilltop Finance

There are numerous benefits to purchasing Over 50’s Life Insurance, and at Hilltop Finance we will ensure that you decide on a policy that best suits your personal situation so you can reap as many benefits as possible. Once you have enquired to get a no-obligation quote from one of our expert advisors it won’t take us long to get yourself and your loved ones protected.  If you are looking for life insurance advice, please speak with our team on 0161 413 7051 for a free consultation.

Important information: Our website offers information about investing and saving, but not personal advice. If you’re not sure which services are right for you, please request advice from Hilltop’s financial advisers. Remember that investments can go up and down in value, so you could get back less than you put in.

Hi there!

We just need to take a few more details to understand what we can help you with and when is convenient for us to call you back. Gives you a chance to pop the kettle on ☕


What would you like our expert advice on?

Purple piggy bank with a pile of coins behind it


Pile of coins in the middle of a graph


Mobile phone showing a graph


pension advice



Is there any advice in particular?

Bar chart graph


Pension drawdown


Pension consolidation


Pension performance


Twisting gear

Not Sure


Finally, just pop your details here and we’ll be in touch