Life insurance for 50s and 60s in the UK is readily available. Find out about eligibility, restrictions, comparisons, and costs for seniors’ life insurance.

To insurance companies, those aged 50 and over represent a higher risk when it comes to life insurance because health problems increase at this time. Life insurance companies know that they are more likely to get claims than with a younger age group.

However, in the UK these days, there is no restriction on eligibility for life insurance for those over 50. As with all insurance, costs vary considerably based on whether the individual is a non-smoker or has health problems.

In these times of recession, every penny counts. Indeed, the cost of living in the UK has become very expensive so many people are wondering what the costs are in taking out life insurance over the age of 50.

Direct Life Insurance Cover for Over 50s
Going directly to an insurance company’s website or bank can mean savings and discounts of up to 25%.

Before purchasing life insurance, compare carefully between companies, not only looking at rates, but the small print of the contract and reputation of the company concerned. If in doubt, ask a reputable insurance broker for advice or find extra information from an accountant on how to choose the best life insurance policy.

Life Insurance Rates Over 50 for UK Women
Women between 50 and 54 can expect to pay premiums for life insurance as follows:

£5 per month for £1,429 cover

£11 per month for £4,108 cover

£20 per month for £8,126 cover

£26 per month for £10,805 cover

£25 per month for £14,823 cover

Premiums for Women between 55 and 60:
£5 per month for £1,125 cover

£11 per month for £3,233 cover

£20 per month for £6,397 cover

£26 per month for £10,805 cover

£35 per month for £14,823 cover

Life Insurance Rates Over 50 for UK Men
Men between 50 and 54 years of age can expect to pay premiums as follows:

£5 per month for £1,115 cover

£11 per month for £3,206 cover

£20 per month for £6,341 cover

£26 per month for £8,432 cover

£35 per month for £11,568 cover

UK Life Insurance Rates for Men between 55 and 60 years of age
Men in this category can expect to pay premiums of:

£5 per month for £862 cover

£11 per month for £2,478 cover

£20 per month for £4,903 cover

£26 per month for £5,519 cover

£35 per month for £8,944 cover

These rates are shown as a guide only. For specific quotes, an application will need to be made by the individual concerned.

Life cover starts on the date the first premium is received. In the UK, life insurance cover continues provided the insured keeps up with monthly premium payments.