Compare over 50 life insurance
A closer look at the plans from the top-selling providers
When buying over 50s life insurance it’s important to feel you’ve made the right choice. We’ve run through some of the things you might want to consider when choosing yours, and compared the 4 most popular active providers in the UK.
What to consider when comparing plans
Over 50s life cover is known as a ‘whole of life’ plan, because unlike most forms of life insurance, over 50s cover offers you protection for your whole life. You pay a little each month, and when you die your payout is guaranteed.
What’s more, there usually aren’t any medical questions, so you’re guaranteed to be accepted.
Providers of over 50s life insurance have different features, for example some offer guaranteed acceptance until aged 85, but others stop at aged 80. These things are worth comparing and considering before you make your choice.
Here are the 4 most popular active providers of Guaranteed Acceptance Over 50s Life Insurance plans in the UK (in order), and the plans we are comparing:
- SunLife’s Guaranteed Over 50 plan (provided by Phoenix Life Limited)
- Scottish Friendly's My Mutual Guaranteed Over 50s Plan (provided by Scottish Friendly)
- British Seniors’ Over 50s Life Insurance (provided by AIG)
- One Family's Over 50s Life Cover (provided by One Family)
Source: the Swiss Re Term & Health Watch report 2023. The top 4 list has been amended to only show the top 4 active providers. The product information below is correct as of March 2024 and is checked every 3 months.
Comparison table
| Over 50s plan provider |  |
Scottish Friendly | British Seniors | One Family |
|---|---|---|---|---|
| Guaranteed acceptance up to age: | 85 | 74 | 80 | 80 |
| Opportunity to stop paying and still receive full payout when you’re aged: | 88 or younger | 90 or younger | 95 | 90 |
| Maximum payout: | £18,000 | £20,000 | £10,000 | £20,000 |
| Funeral Benefit Option – free contribution towards your funeral: |  £250 |
 |
£300 |
£300 |
| Welcome gift: | |
|
|
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Are you interested to find out how much your payout could be with a SunLife Guaranteed Over 50 Plan? You can get a quick quote online in minutes…
Calculate your payout with SunLife
Or call free on 0800 904 7674 (Mon-Fri: 8am-8pm, Sat-Sun: 9am-5pm)
What to consider when comparing over 50s life insurance
What can you afford to pay?
With some plans just like with your home or car insurance, if you stop paying your premiums, your cover ends and you won’t get anything back, so it’s important to carefully consider how much you can afford to pay each month. With SunLife you can either pay for life or choose to pay a slightly higher monthly premium to stop paying at a set age.
| Over 50s plan provider | |
Scottish Friendly | British Seniors | One Family |
|---|---|---|---|---|
| Opportunity to stop paying and still receive full payout when you’re aged: | 88 or younger | 90 or younger | 95 | 90 |
Some plans, like SunLife’s, will also allow you to reduce your premium if your circumstances change in future.
How much will be paid out?
Different providers will offer slightly different payouts for the same monthly premiums, so it’s important to check that you’re happy with the amount offered. You may want to talk with your loved ones about how you see the money being used, to help decide how much cover you’d like.
Most providers give you the option to add additional plans in the future to increase your final payout. If this is something you think you’d be interested in, be sure to compare the maximum payouts available.
If you’re planning to use the cash payout towards your funeral costs, it’s worth checking to see if the provider offers a Funeral Benefit Option. This is a bonus contribution towards funeral costs (when you use a specified funeral provider).
| Over 50s plan provider | |
Scottish Friendly | British Seniors | One Family |
|---|---|---|---|---|
| Maximum payout: | £18,000 | £20,000 | £10,000 | £20,000 |
| Funeral Benefit Option – free contribution towards your funeral: | £250 |
|
£300 |
£300 |
Are there any additional bonuses or welcome gifts?
Many providers offer a welcome gift for new customers, and some offer entries into prize draws. Of course, these incentives should never be the reason for choosing a certain plan. But it still might be worth comparing when making your choice. Welcome gifts are updated regularly and often only become available after a few months of paying premiums.
| Over 50s plan provider | |
Scottish Friendly | British Seniors | One Family |
|---|---|---|---|---|
| Welcome gift: | |
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Making a decision
Choosing over 50s life insurance is a big decision – and you should never feel pressured into making a choice before you’re ready. If you’d like to find out more about SunLife’s Guaranteed Over 50 Plan, you can get a free, no-obligation quote online, or by calling our friendly team.
Or call free on 0800 904 7674 (Mon-Fri: 8am-8pm, Sat-Sun: 9am-5pm)