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Over 50s Life Cover
Over 50s Life Cover
Peace of mind – from as little as £3.95 a month
Ease the financial burden on your family when you’re gone. For a small monthly payment an Over 50s Life Cover policy is a simple way for you to help cover costs at a difficult time, or to leave your loved ones some money when you die.
Over 50s Life Cover is provided and administered by Royal London – the UK’s largest mutual life and pensions company, with over 150 years’ experience in helping families at difficult times.
Cover starts from £3.95 a month
Fairer cover safety feature
No medical for UK residents aged 50 to 80
Other key features
- No hidden charges - your payment won't increase
- Immediate cover for accidental death - if you die from an accident in the first year
- Full cover after one year. Royal London will pay out the full amount of money (full cover amount) if you die after just one year, providing you pay to the policy anniversary date after you turn 90, or until you pass away, whichever comes first.
- Flexible payments, you can reduce your cover to bring your payments down, to a minimum of £3.95 a month
- 5 Star Rating from Fairer Finance for product features
Important information
- Over time, inflation will reduce the buying power of the amount of money you are covered for. No cash-in value.
- Total monthly payments paid could exceed the payout. Only pays out on death.
- The initial agreement is to pay to the policy anniversary after you turn 90 or until you pass away, whichever comes first.
- If you stop making your payments before you’re halfway through your payment term your cover will end and you’ll get nothing back. If you stop paying, and you’re at least halfway through paying for your policy, your family will still get some money when you die.
- In the first 12 months Royal London will not pay out the full cover amount, unless you die from an accident (covered by the policy). If you die within the first year, apart from an accident, Royal London will refund everything you’ve paid to them but not the full cover amount. After the first year, to receive the full cover amount you need to have paid until the anniversary date after you turn 90, or until you pass away, whichever comes first. The monthly payments depend on the payout chosen and your age.
View the terms & conditions including policy exclusions.
Exclusions and limitations apply.
Fairer cover – how it works
Over 50s Life Cover has a safety feature to help if you need to stop paying. It can happen, there are times in life when we have to tighten our belts.
With Over 50s Life Cover, if you need to stop paying, your family can still get at least half of the payout when you die, as long as you’re at least halfway through paying for your policy. That’s halfway from the start of the policy until the policy anniversary date after you turn 90. You stop paying at that policy anniversary or when you die, whichever comes first.
Your questions answered
How does my family make a claim?
Making a claim is simple, Royal London has a dedicated UK-based claims line. Their trained staff will do everything to make sure your family’s claim goes as smoothly as possible.
You can contact Royal London claims team on
Can I reduce my payments?
If you’re paying above the minimum payment and feeling the pinch, you can reduce the premium and cover to bring your payments down, you just have to keep paying at least £3.95 a month. Also, if you need to stop paying, your family can still get at least half of the payout when you die, as long as you’re at least halfway through paying for your policy. That’s halfway from the start of the policy until the policy anniversary date after you turn 90. You stop paying at that policy anniversary or when you die, whichever comes first. Royal London can discuss these events if required and will confirm the revised cover amount. The payout will be dependent on how far you are through the policy.
Can I have a joint policy?
No, but you can have one each.
Can I cash in my policy?
No, you can’t cash in your policy at any time. This policy only pays out in the event of your death.
Can I cancel my policy?
Yes, you can cancel your policy at any time. If you cancel within 30 days of starting your cover, Royal London will refund any payments you’ve made. If you cancel after that, you won’t receive any refund.
If you feel you can no longer afford your cover, Royal London may be able to reduce your payments. If you stop making payments before you’re halfway through the payment term, your cover will end with no refund. If you have to stop paying and you are at least halfway through paying for your policy, your family will still get some money when you die. That’s halfway between when you start paying and the policy anniversary date after you’re 90.
Does the payout amount increase with inflation?
No. It's worth considering inflation though, as prices increase over time the payout you choose today may not be enough for your family in the future. If you would like a bigger payout, you can apply to take out an extra policy for as little as £1 a month. The maximum cover you can have is £10,000 or a maximum monthly payment of £100.
How long do I pay for?
You pay until the policy anniversary date after you turn 90 years of age or until you pass away, whichever comes first. Depending on how long you live for, you could pay more than the money which is paid out when you die.
Royal London customer service
(Open 8am-7pm Monday-Friday, Saturday 9am-5pm and Sunday 10am-4pm)
Over 50s Life Cover is provided and administered by The Royal London Group. The Royal London Group consists of The Royal London Mutual Insurance Society Limited and its subsidiaries. The Royal London Mutual Insurance Society Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. The firm is on the Financial Services Register, registration number 117672. Registered in England and Wales number 99064. Registered office 55 Gracechurch Street, London, EC3V 0RL.
How to apply
Or call Royal London on:
Make a claim
Call Royal London on:
Important info
Royal London Terms & conditions (Link opens in a new window)
You can find impartial information and guidance on money matters on the “Money advice service” website.
Yorkshire Bank is covered by the Financial Services Compensation Scheme (FSCS), Find out more.