Over 50s Life Insurance Calculator

If you’re between 50 and 80 and a UK resident, you qualify for Over 50s Life Cover.

This type of insurance is a great way to leave a gift to loved ones, contribute towards funeral expenses or cover outstanding debts. But how much do you need?

Use our Over 50s Life Insurance Calculator to get an estimate of how much cover you could use. Remember that this isn’t a recommendation, but it can help you decide whether or not Post Office Over 50s Life Insurance is for you.

Over 50s 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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Question 1 of 2

As people in the UK feel less wedded to tradition, the type of funerals on offer have become increasingly more varied. This can sometimes mean that the price tag goes up too, and a funeral might be more than you think.

Most people don’t want the costs of their funeral to be the responsibility of their loved ones, particularly if expensive. The average cost of a funeral in 2019 is £3,785*. This is before factoring in the cost of even a modest send-off, flowers and the wake. These costs can be a strong motivator for people over 50 to take out life cover.

This type of cover offers guaranteed acceptance to UK residents aged between 50 and 80 and can offer a payout an amount to help cover funeral costs.

Alternatively, payouts can be put towards settling minor debts or simply as a gift to your loved ones.

Whatever the reason, life insurance can give reassurance to you and your loved ones that a few important things are taken care of.

Things you need to know

* Source: The Royal London National Funeral Cost Index Report, 2019.

Post Office 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.

Non-accidental death in the first year of the policy

If you die from natural causes (i.e. not as a result of accident or suicide) in the first 12 months of your policy, your estate will receive an amount equal to one and a half times the payments made.

An accidental death (as explained in the Post Office Over 50s Life Cover Terms and Conditions) does not include any of the following causes:

  • suicide, attempted suicide or intentional self-inflicted injury; or
  • death linked to being under the influence of, or being affected (temporarily or otherwise) by alcohol or drugs.


If you die as a result of suicide, attempted suicide or intentional self-inflicted injury in the first 12 months of your policy, your estate will receive an amount equal to the total payments made.

Non-accidental death in the second year of the policy

If you die other than as a result of an accident (as explained in the Post Office Over 50s Life Cover Terms and Conditions) during the second year of your policy - i.e. from the first policy anniversary to the day before the second policy anniversary - your estate will receive the lower of:

  • £5,000; or
  • the full cash sum.


Accidental death

If you die from an accident in the first 12 months (please refer to the Post Office 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 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.