Over 50s Life Insurance Plan

Are you healthy and aged 50 to 80? Then the Family Investments Over 50s Life Insurance Plan is designed just for you.

If you have read the details and are happy this product is right for you...

Apply online

Over 50s Life Insurance plan

The Family Investments Over 50s Life Insurance Plan helps you build up a useful lump sum for when you die to help towards funeral costs, debts or just leave behind some money for loved ones.

By excluding those who are in the very worst of health, our plan is able to offer higher cover than the leading providers*. To qualify for our preferential cover all you have to do is answer a simple medical question.

  • We don't cover: Those who have suffered from a heart attack, stroke or cancer in the last 5 years and those who have a terminal medical condition.
  • We do cover: Everybody else aged 50 to 80, no medical examination required.

Before applying online for an Over 50s Life Insurance Plan, you should ensure you have read the relevant sections of this site, including the Important Information and the All you need to know about the Over 50s Life Insurance Plan document, and are happy that the plan you have chosen is right for you.

Family Investments does not provide advice. If you have any doubts about the suitability of the Over 50s Life Insurance Plan you should seek independent financial advice.

*Correct as at March 2011 and based on £12 per month premium for people aged 60.

Our Family Bond

You may be interested in a Family Bond from Family Investments.

Find out more

Its aims

  • To provide a fixed lump sum when you die.

Your commitment

  • You must make a fixed monthly payment of between £8 and £30 a month until your 90th birthday.

The risks

  • Your circumstances may change, and this may mean that you cannot keep paying in to the policy. If you stop making payments before your 90th birthday, life cover will stop and you will not get anything back. You should be certain that you can afford to keep making payments after you have retired or if you stop working before you apply.
  • Over time the cost of living will generally rise, reducing the value of the lump sum paid out on your death. This means that the lump sum will not buy as much in the future as it could today.
  • If you live long enough, the total payments you have made will eventually be more than the amount payable when you die.

Over 50s plan benefits

  • Aims to offer higher cover than the leading providers (see above).
  • Up to £5,000 per member paid before probate.
  • Payment amounts start from £8 a month. That's just 26p a day.
  • Payment amount fixed for the life of the policy.
  • Stop making payments when you reach 90, cover continues for life.
  • Full benefit payable after just 12 months.
  • Double benefit paid upon accidental death before age 71 (including the first 12 months).
  • No medical examination required.
  • £30 Marks and Spencer vouchers upon receipt of your first payment.
Apply online

Important Information to consider

  • You'll need to confirm that in the last 5 years you haven't suffered from a heart attack, stroke or cancer and you don't have a terminal medical condition.
  • If you stop making payments before age 90, your plan will lapse and you will receive no benefit and no refund.
  • If you die in the first year, the amount that will be paid out is limited to a refund of the payments you have made.
  • If you live long enough, the total payments made may eventually exceed the amount of life cover.
  • Increases in the cost of living will reduce the value of the lump sum.
  • Please see the important information page for further considerations.
  • For the exclusions applicable to this plan, please see page 12 of the 'All you need to know about the Over 50s Life Insurance Plan' document.
Apply online

Compare our cover

We think our rates are some of the best in the market, but don't just take our word for it, see how we compare in the table below.

 Provider Female Life Cover  Male Life Cover  Full cover payable after 
 Family Investments £3,144 £2,466  12 months 
 Asda non smoker £2,913  £2,233  12 months 
 Tesco £2,882  £2,288  24 months 
 LV= £2,751  £2,175  12 months 
 Legal & General £2,775  £2,202  24 months 
 Post Office £2,587  £2,196  12 months 
 Sun Life Direct £2,415  £1,900  24 months 
 Asda Smoker £1,849  £1,320  12 months 

The table above is correct as at March 2011 and is based on a person aged 60 paying £12 a month.