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Parents Cover - Over 50s

Parent's Cover (Over 50's)

If you are over 50 years old or have parents over this age, Parent's Cover is the life insurance protection for you. 

Generally speaking, over 50's will no longer have dependants living with them and possibly have paid their mortgages off. Therefore, the financial amount they need to protect is usually less in value. This gives more flexibility on deciding on the term and monthly costs associated with the policy. 

As with this generation, health and medical conditions are more likely to have affected them, so having the option of not having to complete a medical questionnaire can be seen as a bonus to getting protected easily and quickly. 

However, Over 50's Cover isn't always the best option and an underwritten life insurance policy could be far better suited to your needs. 

What is Over 50's Insurance

An Over 50's life insurance plan provides your loved ones with a fixed, tax-free cash lump sum when you die, providing help with the cost of funerals and any other expenses that may be incurred.


You can take out a plan as long as you are aged between 50 and 80, and accepted straight away, with no medical questions to answer, regardless of your health. It’s affordable and your premiums will be fixed, meaning they will never increase in cost.


When the time comes for your family to make a claim, the money will be paid directly to the estate and then your family, or if you choose a funeral benefits option, the money will be paid directly to the relevant funeral services, who will handle your funeral arrangements.


Standard Life Insurance or Over 50's?

Some people think that they may need an over 50’s policy instead of an underwritten life insurance policy. This is often due to the assumption that Over 50's is the best option for older people and that life insurance is going to be too expensive.
If you are relatively healthy and only have a few medical conditions, then a standard life insurance can give you far better value with a bigger payout for your partner or children. 

On the other hand, if you think you have had too many health issues and just want to leave a lump sum to you family, then Over 50's cover may be the one you need. It can also pay for your funeral so you don't have to leave it for the family to sort out and pay for. 

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