Life Cover Over 50s

Over 50s Life Cover

Put plans in place now to help pay for your funeral, or leave a gift when you're gone.

Talk to Post Office Money® for affordable peace of mind.

 

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Leave more than just memories

Post Office Money Over 50s Life Cover is a simple way to leave your loved ones a cash sum when you die – as a gift, to settle unpaid bills or help pay for your funeral.

If you’re aged 50 to 80 and a UK resident, you can get cover in place right away. Just choose how much you want to pay each month, from £7 to £100, and leave behind up to £25,000 when you pass away.

The more you pay each month, the bigger the cash sum your family will get.

With Post Office Money Over 50s Life Cover:

  • Pay from only £7 a month – that’s just 24p a day
  • There's no medical – we'll accept you if you're a UK resident aged 50 to 80
  • Reduce your cover to bring your payments down if needed
  • Get immediate cover for accidental death* and full cover after just one year
  • Add Funeral Benefit Option for an extra £300 towards the cost of your send-off

We'll make it easy for your family to claim. And they’d have access to a free one‑to‑one bereavement support, for welcomed help at an obviously difficult time.

Over 50's Life Cover Calculator

How old are you?

Please tell us how old you are, you must be between 50 and 80 years old to buy this cover. If you are under 50 our Life Insurance will provide the cover you need Click Here

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You must be aged 50 to 80 to apply

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Get an extra £300 towards your funeral

If you’re planning to use the cash sum from your Over 50s Life Cover to help pay for your funeral, consider adding the Funeral Benefit Option to your policy at no extra cost.

When the time comes, the cash sum will be paid to Dignity Funeral Directors. They'll put your funeral plan in motion, help your family through all the arrangements and put an extra £300 towards the final cost. 

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A Post Office Money Helping Hand in the hardest times

Dealing with a bereavement is tough. So Post Office Money Over 50s Life Insurance offers Post Office Money Helping Hand: one-to-one long term support from a dedicated personal nurse for your family if you die at no extra cost. We're also there for you if you lose someone yourself or are diagnosed with a serious illness. If it’s beneficial, a course of assessed therapy or counselling can also be provided.

This service, provided by RedArc is not part of the product contract and can be withdrawn at any time.

Get covered right away, help towards the cost of your funeral or leave a gift when you're gone.

Did you know?

The average cost of a funeral in 2016 was £3,675.

More ways to get covered

Life Insurance

Get your family, home and income covered financially. 

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Free Parent Life Cover

Parents with children under 4 years old can take advantage of our free life cover for 1 year.

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Some common questions

How long will it cover me for?

Your Post Office Money Over 50s Life Cover policy continues for the rest of your life.

You just need to keep making monthly payments until whichever of these happens soonest:

  • The policy anniversary date on or after your 90th birthday
  • 30 years from the start of your policy
  • You pass away

 

How much cover can I have?

You can apply for a maximum cash sum of £25,000 or pay a maximum of £100 per month, whichever is lower.

You can have more than one Post Office Money Over 50s Life Cover policy but the total amount of cover across all of these policies can't be more than the maximum cash sum and maximum payment amount limits. 

If an application takes you above these limits, we'll reduce the cash sum of your most recent policy, or cancel it, to ensure the maximum limits aren't exceeded. We'll write to you to confirm we've done this.

How long will I make payments for?

With Post Office Money Over 50s Life Cover it's a fixed payment term. You pay for a maximum of 30 years, or to the policy anniversary date after you turn 90, or until you pass away – whichever comes first.

How does someone claim on my policy?

Losing a loved one is a difficult time. The last thing those you leave behind need is a drawn out claims process.

When the time comes, we'll make it easy for your personal representatives to claim the cash sum from your policy.

If you've recently lost someone and need to claim, you can find all of the information you need here.

Still have questions about life cover? Visit our help page

Things you need to know

† Source: The Royal London National Funeral Cost Index Report, 2016.

Post Office Money Over 50s Life Cover is provided by The Royal London Mutual Insurance Society Limited. 

Depending on how long you live, you could pay more in monthly payments than the cash sum we pay out when you die. The cash sum you choose is fixed and inflation (the rising cost of goods and services) will reduce its value over time.

*We only pay out on death. There is no cash-in value at any time. If you die from natural causes in the first 12 months, we will pay one and a half times the payments you have paid. If you die from natural causes after 12 months we will pay the full cash sum. If you die from an accident in the first 12 months (please refer to the Post Office Money Over 50s Life Cover Terms and Conditions for an explanation of accidental death), we will pay the full cash sum. If you die as a result of an accident after the first 12 months, we will pay two times the cash sum.

We will stop collecting payments after a maximum of 30 years, or on the policy anniversary date after you reach age 90 or when you die, whichever is sooner. If you stop making your payments your cover will end and you’ll get nothing back. We can tell you about our cover but cannot advise if it is right for you. If you are not sure if it is right for you, please ask your financial advisor, or visit unbiased.co.uk to find one who could help.

Click here if you would like to read the Terms and Conditions. If you apply for cover, you will also receive them with your policy documents.

The Funeral Benefit Option is not regulated by the Prudential Regulation Authority or the Financial Conduct Authority.

RedArc Ltd is an independent care advisory service and is not regulated by the Financial Conduct Authority. 

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