What is Over 50s Life Insurance?
We explain how Over 50s Life Insurance works and what the benefits of it are
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Shepherds Friendly Over 50s Life Insurance Facts
Whole of Life Insurance plan
Over 50s Life Insurance is a monthly life insurance plan for those aged 50-80 years old which aims to give you the peace of mind that your family will get a helping hand when you pass away.
Guaranteed acceptance
You are guaranteed to be accepted when applying.
No medical
You don’t need to fill in any medical forms to open the plan.
Guaranteed tax-free cash lump sum
A guaranteed tax-free cash lump sum will be paid to your family or loved ones when you die.
Peace of mind
Family can spend the cash lump sum on anything, such putting it towards the cost of a funeral.
Funeral funding option
You have an option to get a £300 bonus on top of your guaranteed cash lump sum, if you dedicate the money to Co-op Funeralcare Funeral Care.
How does Over 50s Life Insurance work?
Can be opened by any 50-80 year old
If you are aged between 50 and 80 years old and live in the UK, then you should be eligible to open the plan
Choose your own premium
You have the flexibility to choose your own premium, which can between £10-£50 a month
Your premium never increases
Your monthly premium is locked and will never increase. You will stop paying your premium when you turn 90, or when you die
Increase your level of cover
If you would like to increase your total level of cover, then you can take out another plan. As long as your monthly premiums do not exceed £50
A tax-free cash lump sum is paid out to your loved ones
If you die once your Over 50s Life Insurance has been in place for two or more years, we will pay the full guaranteed cash lump sum.
We will pay the full cash lump sum if you die in an accident, within the first two years of the plan.
If you die of natural causes within the first two years of the plan, we will pay one and a half times the premiums you have paid in.
Get a quick quote for your Over 50s Life Insurance plan
How much your loved ones receive depends on a few things, including your monthly
premium and age.
This tool should give you an idea of how much you can afford and how
much your loved ones could receive.
What is your current age?
Have you consumed tobacco
products in the past 3 years?
Your premium: £10
How do you open Over 50s Life Insurance with Shepherds Friendly?
Alternatively, you can open an Over 50s Life Insurance plan by calling
our Customer Services team on 0333 305 9696
Still not sure?
If you’re still not sure whether or not the our Over 50s Life Insurance plan is right for you, then just fill in the form below and we will email you some more information for you to read when you get the chance. We’ll keep you informed about our products too, but don’t worry, we won’t fill up your inbox with spam or share your details with anyone else.