What is Over 50 Life Insurance?
Over 50 Life Insurance allows you to leave money behind for your loved ones when you die
This money can go towards:-
- Help with funeral costs
- Cover outstanding bills
- A gift for loved ones
Key benefits of a Royal London Over 50 Life Insurance policy:
Set payments
Royal London guarantee they'll never go up
Fully insured
After only one year
Guaranteed Acceptance
No medical needed
100% of claims paid
100% of Royal London Over 50 Life Insurance claims paid in 2020
"Very prompt service
- so easy to use because it is all online. The format of everything is easy to read and understand".
Paying for
Over 50 Life Insurance
Flexible payments
Payout promise
Payment holidays
Over 50 Life Insurance
vs Funeral Plans
| Benefit | Over 50 Life Insurance |
Funeral Plan |
|---|---|---|
| Provides a cash lump sum for your loved ones | ||
| Pays directly to Funeral Directors to cover cost of your funeral | ||
| Different policy and plan options to suit your needs | ||
| Guaranteed Acceptance, no medical | ||
| Cover from: | £3.95 per month |
£14.61 per month** |
Over 50 Life Insurance
Find Out More NowFuneral Plan
Find Out More NowFAQs about Royal London
Over 50 Life Insurance
Q:
What is Over 50 Life Insurance?
A: Royal London Life Insurance is a simple way to leave your loved ones money when you die, as a gift or to help pay for your funeral.
Q:
How does Over 50 Life Insurance work?
A: Choose how much you can afford to pay each month, so you can leave your family money when you die, or to help with your funeral costs. The maximum payout you can get is £10,000. The more you pay each month, the bigger the payout your family could get.
Wondering how much insurance you can have?
You can have more than one Royal London Over 50 Life Insurance policy, but you cannot exceed the total payout amount of £10,000.
Q:
Does Over 50 Life Insurance cover death from coronavirus?
A: Yes, you're covered for any death, including death resulting from coronavirus, after your first year, as long as your payments are up to date.
Q:
I'm over 60 and looking for life insurance. Do I qualify?
A: Yes. As long as you're aged 50 to 80 and a UK resident, you qualify for Over 50 Life Insurance from Royal London.
Q:
What happens if I die during or after my first year?
A: If you die in the first year of your policy, Royal London return your payments.
If you die in an accident (as defined in Royal London's terms and conditions), in the first year of your policy, Royal London pay out the full amount.
If you die after the first year of your policy, the full sum assured will be paid out.
Q:
How long do I pay for Over 50 Life Insurance?
A: Royal London will automatically stop collecting payments on the policy anniversary following your 95th birthday, or if you die, whichever comes first, but your insurance will continue for the rest of your life.
Q:
Do Royal London do payment holidays?
A: If you stop paying altogether you could lose your insurance. Royal London want to keep you covered and Royal London Over 50 Life Insurance has ways to help you do that:
Flexible payments - you can reduce your monthly payments by bringing down your payout amount, as long as you're paying at least £3.95 a month.
Payment holiday - After your first year, you can have a break from making your monthly payments for up to six months - and still stay insured. Not all providers let you do this.
You'll have to make up the missed payments or reduce your payout amount after your payment holiday finishes.
You can have up to two payment holidays during your policy - only one can be taken within any twelve-month period.
Payout Promise - If you need to stop paying altogether, Royal London promise that your family can still get at least half of the payout when you die, as long as you're at least halfway through paying for your policy. That's halfway from the start of the policy until the policy anniversary date after you turn 95. You stop paying at that policy anniversary or when you die, whichever comes first. Many don't give you this protection.