Over 50s Fixed Life Insurance plan offers guaranteed acceptance with no medical for UK residents aged 50-80. Full cover is payable after just 1 year.
There may be other products available if you want to answer further lifestyle and medical questions. It's worth considering which type of life insurance is right for you. Some could give you more protection for the same price.
Can my partner take out cover as well?
Your partner can also apply for a plan providing they are aged 50 to 80 and a UK resident and reside in the UK for at least 183 days per calendar year. However, as the plans are set up individually, they cannot be held in joint names.
Will my premiums ever go up?
No, your premiums won’t go up for our Over 50s Fixed Life Insurance.
Please be aware if you stop paying premiums when due, your plan will be cancelled and you won't get anything back.
How much cover can I have?
The maximum amount of cover you can have is determined by your chosen premium and whether you hold any other Legal & General Over 50s Life Insurance with us. You can choose a premium between £5 and £75 a month, depending on your age and whether you're a non-smoker.
It is possible to have more than one Over 50s Life Insurance plan with us, so long as the total cash sum value for all your plans when added together is not greater than £10,000. If you have a plan taken out on or before 25 November 2017, please refer to your Policy Terms & Conditions for your total cash sum.
How long does the cover last?
Your cover is for the whole of your life, although we stop collecting your premiums when you turn 90. If you stop paying premiums when due, your cover will stop and you won't get anything back.
What about cover for the over 60s and the over 70s?
Our Over 50s Fixed Life Insurance is designed for UK residents aged between 50 and 80. That means the over-60s and over-70s are eligible to apply, and acceptance is guaranteed without the need for a medical. Full cover is payable after just 1 year. There may be other products available if you want to answer further lifestyle and medical questions.
Over 50s Fixed Life Insurance is not a savings or investment product and has no cash value unless a valid claim is made. If you stop paying premiums when due, your plan will be cancelled and you won't get anything back.
The cash sum available for your chosen premium is likely to be lower if you take out Over 50s Fixed Life Insurance at a later age.
What's the difference between life insurance and Over 50s Life Insurance?
Life insurance usually refers to term life insurance, where you take out a policy which covers you for a specific length of time, such as 10, 20, or 25 years. Typically, this covers the length of a mortgage, or the length of time you expect your family to be financially dependent on you. In contrast, over 50s life insurance is designed for UK residents aged between 50 and 80 who need a cash sum after they die, which can be used towards funeral costs or left as a gift.
It's important to note that these plans are not savings or investment products and have no cash value unless a valid claim is made.
Can I cash in my plan?
Our Over 50s Fixed Life Insurance is not a savings or investment product and has no cash value unless a valid claim is made.
What is the Funeral Benefit Option?
With this option, the cash sum from your plan is paid directly to an agreed Dignity Funeral Director, rather than to your estate. When the time comes, your family simply make one phone call to Dignity to set the plan in motion saving them the worry of finding a funeral director. Find out more about the Funeral Benefit Option.
The Funeral Benefit Option will provide £250 on top of your cash sum amount when your plan is used to help contribute towards your funeral costs with a Dignity Funeral Director, at no extra cost to you. Terms and Conditions apply.
How many Over 50s Life Insurance plans can I take out?
You can have more than one Over 50s Life Insurance plan with us, so long as the total cash sum value for all plans when added together is not greater than £10,000. If you have a plan taken out on or before 25 November 2017, please refer to your Policy Terms & Conditions for your total cash sum.
How does the Over 50s Life Insurance plan work?
Over 50s Fixed Life Insurance could be an affordable way to leave a fixed cash lump sum for your loved ones, which could help contribute towards funeral costs or be left as a gift
Premiums are fixed and start from £5 a month and you can choose to pay up to £75 a month, dependent on your age and how much cover you may need. Your cover will continue for the rest of your life, even though you stop paying premiums at age 90. Depending on how long you live total premiums paid may be greater than the cash sum payable on death.
Depending on factors such as your age when you take out the policy, and whether or not you're a non-smoker, you can choose a premium that suits you between £5 and £75 a month.
Depending on how long you live, the total premiums paid may be greater than the cash sum payable on death.
Can I have a joint plan?
We don't offer joint plans for our Over 50s Fixed Life Insurance. However, you and your partner can each apply for an individual plan, as long as you're both aged between 50 and 80, and UK residents who spend at least 183 days in the country per calendar year.
When do I stop making monthly payments?
You stop paying premiums at age 90, even though you will continue to be covered for life. If you stop paying premiums when due, your plan will be cancelled and you won't get anything back.
How does inflation affect my plan?
As the cash sum is fixed, inflation will reduce its buying power in the future. It’s worth taking this into consideration when deciding how much cover you need. Your premiums are fixed and won’t go up once you’ve taken out Over 50s Fixed Life Insurance.
Do I need Over 50s cover?
While only you can decide, ultimately, whether you need Over 50s life cover, we can tell you that our Over 50s Fixed Life Insurance is designed for UK residents aged between 50 and 80 who need a cash sum after they die, which can be used towards funeral costs or left as a gift to family. If that sounds like it could apply to you then this cover may well suit your needs.
If you stop paying your monthly premiums when they're due, your plan will be cancelled and you won't get anything back.
If you no longer feel able to pay the full amount of your monthly premium, you may be able to reduce your monthly premium as long as if you've held your plan for at least a year. If you reduce your premium your cash sum will also be reduced. The minimum premium applies.
When is full cover payable?
The full cash sum is payable if you die after one year. If you pass away within the first year, we will refund any premiums paid. However, if you die as a result of an accident then full cover will be paid. Terms & Conditions apply.
If you stop paying premiums when due, your plan will be cancelled and you won't get anything back
