Over 50s FAQs
If you have any questions about our Over 50s Fixed Life Insurance Plan, you may find the answer below, but if you prefer to talk to someone please don't hesitate to get in touch.
Do I need a medical?
Over 50s Fixed Life Insurance plan offers guaranteed acceptance with no medical for UK residents aged 50-80.
There may be other products available if you want to answer further lifestyle and medical questions.
Can my partner take out cover as well?
Your partner can also apply for a plan providing they are aged 50 to 80 and a UK resident and reside in the UK for at least 183 days per calendar year. However, as the plans are set up individually, they cannot be held in joint names.
Will my premiums ever go up?
No, your premiums won’t go up for our Over 50s Fixed Life Insurance.
Please be aware if you stop paying premiums when due, your plan will be cancelled and you won't get anything back.
How much cover can I have?
The maximum amount of cover you can have is determined by your chosen premium and whether you hold any other Legal & General Over 50s Life Insurance with us. You can choose a premium between £5 and £75 a month, depending on your age and whether you're a non-smoker.
It is possible to have more than one Over 50s Life Insurance plan with us, so long as the total cash sum value for all your plans when added together is not greater than £10,000. If you have a plan taken out on or before 25 November 2017, please refer to your Policy Terms & Conditions for your total cash sum.
How long does the cover last?
Your cover is for the whole of your life, although we stop collecting your premiums when you turn 90. If you stop paying premiums when due, your cover will stop and you won't get anything back.
What needs to be done when making a claim?
In the event of a claim, please call or write to us. Read more about our claims process.
What about cover for the over 60s and the over 70s?
Our Over 50s Fixed Life Insurance is designed for UK residents aged between 50 and 80. That means the over-60s and over-70s are eligible to apply, and acceptance is guaranteed without the need for a medical. There may be other products available if you want to answer further lifestyle and medical questions.
Over 50s Fixed Life Insurance is not a savings or investment product and has no cash value unless a valid claim is made. If you stop paying premiums when due, your plan will be cancelled and you won't get anything back.
The cash sum available for your chosen premium is likely to be lower if you take out Over 50s Fixed Life Insurance at a later age.
The terms are the same for any applicant, regardless of age. However, we can't guarantee they'll be the same if they apply today versus in 3 years' time - the T&Cs for new policies could change.
Do I qualify for a will if I buy an Over 50s Plan from L&G??
We are offering a will from Farewill worth up to £1351 if you buy Over 50s Fixed Life Insurance directly from us online, by phone or by post on or before 31 December 2019. The offer is limited to one single or two individual wills (for you and your partner) per policyholder, and entitles you to a 12-month subscription with Farewill, during which time you can make unlimited changes to your will. After 12 months a paid subscription starts automatically. To qualify, you must claim your will within three months of your policy's start date. Please make sure you're familiar with the full terms and conditions of the offer when you apply.
1Subscription required. Excludes Northern Ireland.
What's the difference between life insurance and Over 50s Life Insurance?
Life insurance usually refers to term life insurance, where you take out a policy which covers you for a specific length of time, such as 10, 20, or 25 years. Typically, this covers the length of a mortgage, or the length of time you expect your family to be financially dependent on you. In contrast, over 50s life insurance is designed for UK residents aged between 50 and 80 who need a cash sum after they die, which can be used towards funeral costs or left as a gift.
It's important to note that these plans are not savings or investment products and have no cash value unless a valid claim is made.
Can I cancel my plan?
After we have accepted your application, you have 30 days to change your mind. If you cancel within this time we will refund any premiums paid.
A Cancellation Notice will be sent once the plan has started confirming your right to cancel. After that period, you can still cancel your plan at any time by writing to us. If you cancel your plan after the cancellation period, or if you stop paying your premiums when due, your cover will end 30 days after the first missed premium and you won't get any money back.
Call us on 0800 316 8435
8am to 8pm Monday to Friday
9am to 5pm on Saturday.
We may record and monitor calls.