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Over 50 Life Insurance

Three great reasons to choose the LV= 50 Plus plan...

  • Guaranteed acceptance - no health questions asked
  • Premiums starting from £7 a month (depending on age)
  • Full cover after just 12 months
Three square images of men and women over 50 smiling

Differences in Over 50 Life Insurance

There are some key differences between over 50s life insurance and life insurance to bear in mind when you’re looking to take out a plan with us.

LV= 50 Plus Plan

LV= Life Insurance

Overview

Pays out a lump sum when you pass away (after the first year)

Pays a lump sum if you pass away within the specified time-frame on your plan

How long does cover last?

Lasts for the whole of your life

Lasts for the number of years you choose, from a minimum of 5 years to a maximum of 45 years

Who can apply?

Anyone who permanently lives in the UK and is aged between 50 and 80

Anyone who permanently lives in the UK and is aged between 17 and 69

Monthly premium amount

Starts from £7 (depending on age)

Starts from £5 (depending on age, smoker status and medical history)

Amount of cover

  1. Minimum of £1,000
  2. Maximum of £25,000
  1. No minimum - the minimum cover will be the amount you can get for the minimum premium
  2. Maximum cover of up to £500,000 (£300,000 if you're 56 - 65, or £200,000 if you're 66 - 69 when you apply)

Lump sum pay-out

Yes

Yes

Joint cover available

No

Yes

Guaranteed premium

Yes

Yes

Terminal illness cover

No

Yes - if you're diagnosed with a terminal illness you can ask us to pay out the insurance plan early (we'll reduce your cover by 3% for a terminal illness claim)

Will I have to provide medical and health information?

No medical or health questions - you're guaranteed acceptance

Yes - you'll have to answer medical or health questions

Apply online

Yes

Yes

Option of choosing level or decreasing cover

No

Yes

How do I find out more?

More key differences between 50 Plus Life Insurance and LV= Life Insurance

50 Plus life insurance

  • You’re able to apply if you permanently live in the UK and you’re aged between 50 & 80.
  • It provides a one-off cash lump sum when you pass away, after the first year. If you die before then, then the plan may only pay out the money that you have paid for your cover and nothing more.
  • You can choose the amount of cover you’d like, or the amount you’d like to pay every month and premiums start at £7 (depending on age).
  • After the insurance starts, the amount of insurance and the premiums you pay are fixed, this means it won’t keep up with inflation and you’ll be able to buy less with the lump sum in the future compared to today.
  • There are no medical or health questions and you’re guaranteed to be accepted. This means that people of the same age as you looking for the same amount of cover all pay the same for it – irrespective of their health. So you get less cover for your money compared to a plan that was based on your own medial history.
  • After your 90th birthday, the insurance continues but you won’t have to pay any more premiums. If you stop paying before then your plan will end, and you won’t get anything back.
  • 50 Plus life insurance doesn’t depend on any set time-frame and will pay out regardless of when you die. But depending on how long you live you may end up paying more in total than the amount paid out when you die.
  • It can be used to cover funeral expenses, unpaid bills or to leave a financial legacy to grandchildren or loved ones.

LV= Life Insurance

  1. You’re able to apply if you permanently live in the UK and you’re aged between 17 and 69.
  2. It provides a one-off cash lump sum if you pass away during the period you chose for your insurance to last for (minimum 5 years, maximum 45 years).
  3. You choose how long you’d like the plan to last and how much cover you need. After the insurance starts, the premium you pay and the length of time the cover lasts for are fixed.
  4. Premiums start from £5, and the amount you pay is based on how much cover you want, and how long you want it to last, and are dependent on your age, whether you smoke or not and your medical history.
  5. Because we ask for your medical history your cover and what you pay for it is based on your individual circumstances.
  6. You can choose between level or decreasing cover. Decreasing cover reduces the amount paid out over time, and is designed to cover the reducing amount you owe on a capital and interest repayment mortgage. Level cover is fixed, and won’t keep up with inflation.
  7. If you’re diagnosed with a terminal illness during the plan term you can ask us to pay out your insurance policy early – this payment will be 3% less than the original amount of cover and your plan will end after this payment.
  8. Life insurance pays a lump sum to your dependents if you die within a specific time-frame, e.g. a life insurance policy for 20 years, will only pay out if you pass away within that 20 year period. It has no cash in value at any time.
  9. It can be used to cover a mortgage, loans or to leave a financial legacy to your loved ones.

You can phone us

Call our friendly UK-based team for more information or a quote:

0800 197 0517
Quoting offer code
IELO
TextDirect: 18001 0800 197 0517
8am to 7pm Monday to Friday

Existing customer?

We may record and / or monitor calls for training and audit purposes.

Complimentary Gift

Complimentary Gift when you apply.

50 Plus welcome gifts
*Amazon T&Cs

*Amazon.co.uk is not a sponsor of this Promotion. For complete gift certificate terms and conditions, see www.amazon.co.uk/gc-legal. All Amazon ®, ™ & © are IP of Amazon.com, Inc. or its affiliates.