Best life insurance for over 50's UK [2024]

Rated number one in our best life insurance for over 50s list, One Family over 50s life cover is a trusted product with a range of impressive features and benefits.

It offers a maximum payout of £20,000 (the highest payout of all providers in our list), and includes terminal illness cover as standard.

Terminal illness cover isn’t a typical feature of over 50s life insurance. It means that, if you’re diagnosed with a life-threatening illness after the 24 month waiting period, the policy will payout your full sum assured.

One Family over 50s life cover also includes a funeral benefit option as standard. When you pass away, your full payout will go direct to Golden Charter to pay for your funeral, plus a £300 contribution will be made towards the final cost (unless you opt out).

A waiting period of 24 months applies before you’re eligible for a full pay out, but during this period you’ll be covered for accidental death.

One Family will pay 300% of your sum assured (up to £48,000) in this instance. If you pass away due to natural causes during the waiting period, any premiums you’ve paid will be refunded to your family.

One Family over 50s life insurance starts from £5 a month. Policies are available to UK applicants aged 50 - 80 and acceptance is guaranteed.

Shepherds Friendly is a long-standing mutual society and award-winning over 50s life insurance provider.

Most notably they’ve won ‘Best over 50s life insurance provider’ at the YourMoney.com Personal Finance Awards in 2024 and ‘Best protection service’ at the MoneyFacts Awards in 2022.

Shepherds Friendly over 50s life insurance is available to UK residents aged 50 - 80 and it’s possible to secure up to £15,000 depending on your specific age and circumstances.

You’ll need to wait 24 months before full cover starts. However, if you pass away as a result of an accident during this period, they’ll payout 100% of your sum assured.

Like most other over 50s plans, Shepherds Friendly offer the free funeral benefit option (in partnership with Co-op Funeralcare) and a contribution towards your funeral costs of £250.

Access to bereavement services for your family is a unique benefit that offers free counselling for your family from the National Bereavement Service.

Please note, Shepherds Friendly over 50s life insurance is not available through Reassured.

Legal & General are a leading life insurance provider with more than 180 years industry experience.

Their accolades include ‘Outstanding Insurer’ at the Life Search Hall of Fame Awards in 2023 and ‘Organisation of the Year’ at the Protection Review awards in 2022.

Despite a lower rating on Defaqto, Legal & General over 50s life insurance offers a range of decent benefits, including free wellbeing support provided by RedArc registered nurses, and a care concierge service for those wanting advice on later life care.

The maximum payout amount is £10,000, which isn’t the best compared to amounts offered by other providers, but the waiting period is just 12 months.

Policies include accidental death cover (100% payout during waiting period) and a funeral benefit option which gives your family an extra £250 towards your funeral costs (if you opt in).

Legal & General over 50s life insurance is available to UK residents aged 50 - 80. Please note, Legal & General over 50s life insurance is not available through Reassured.

British Seniors specialise in over 50s life insurance for UK residents aged 50 - 80 years old.

Their over 50s plan is one of the best on the market based on their excellent reviews and ratings. It has also received several awards including ‘Best over 50s life insurance’ at the Personal Finance Awards in 2023 and 24.

With British Seniors, the waiting period is 12 months instead of 24 months, and their accidental death cover will pay out 200% of your sum assured if you pass away as a result on an accident during this time.

As an over 50s policyholder, you’ll have access to free health & wellbeing services (provided by MediPartner) plus a free Will writing service worth £100. You can also protect your policy from inflation by opting for the increasing benefit option.

While British Seniors over 50s life insurance offers some excellent benefits, the maximum pay out amount is at the lower end of the scale at £10,000 and you have to keep paying your premiums until you reach the older age of 95 years old.

Please note, British Seniors over 50s life insurance is not available through Reassured.

SunLife has been providing protection for over 200 years and their over 50s plan is the most popular and most trusted in the UK.

They’re said to be the nation’s favourite over 50s life insurance company, with over 800,000 people choosing their cover over other providers.

They offer a simple and affordable over 50s life insurance solution that’s highly rated by customers on Feefo and Trustpilot. They’re dedicated to outstanding customer service which is demonstrated in their reviews.

The maximum payout amount is £18,000, which is at the higher end of the scale, and there’s a 12 month waiting period before full cover starts. Accidental death cover is included as standard and you can choose to add the funeral benefit option which offers a £250 contribution towards your funeral costs.

Monthly premiums must be paid for the rest of your life to keep cover in place, unless you opt for the PayStop option, which means you can stop paying at a specified age (for a higher premium).

SunLife over 50s life insurance is available through Reassured, starting from just £5 a month.

Ranking number six in our best life insurance for over 50s list, Direct Line sell a good quality life insurance product (provided by AIG) that includes some excellent benefits.

This includes access to award-winning Smart Health services free of charge. Policyholders and their families have unlimited 24/7 access to health and wellbeing experts, including a GP, nutritionists and mental health specialists.

Direct Line also offer a ‘protected insurance amount’, which means that if you cancel or stop paying for your policy, your family will still receive a payout when you pass away - as long as you've made at least half the payments on your policy from when it started up until your 90th birthday. Not many over 50s plan providers offer this benefit.

Policies are available to applicants aged 50 - 85 and the maximum payout is £15,000. They have a longer waiting period of 24 months.

Please note, Direct Line over 50s life insurance is not available through Reassured.

When looking for the best over 50 life insurance to suit your needs and budget, it’s essential to compare quotes from different insurers.

At Reassured, we compare deals from some of the UK’s best providers, so you can easily find the right life insurance for you.

If you’re aged 50 - 85 then you’re guaranteed to be accepted and there’s no medical questions or exam.

Quotes start from just £5 a month through us and it’s possible to secure up to £20,000 for your loved ones (depending on your personal circumstances).

Simply fill in our form with a few details about yourself and we’ll get you our top life insurance for over 50s deals.

Our quotes are fee-free and without obligation.