Over 50s Life Insurance Calculator
Over 50s Insurance Estimate
Monthly Premium
Estimated Payout-
Total Premiums Paid (life expectancy)-
Waiting Period-
Break-Even Point-
Value Assessment-
Over 50s Plans Compared 2025/26
| Monthly Premium | Typical Payout (Age 55) | Typical Payout (Age 65) | Typical Payout (Age 75) |
|---|---|---|---|
| £10/month | £3,500 | £2,200 | £1,200 |
| £25/month | £9,500 | £6,000 | £3,200 |
| £50/month | £20,000 | £13,000 | £7,000 |
| £100/month | £42,000 | £27,000 | £15,000 |
Indicative payouts. Actual amounts vary by provider. Most plans have a 12-24 month waiting period during which only premiums paid are returned if you die.
Key Features
Acceptance
Guaranteed
Medical
No questions
Premiums
Fixed for life
Waiting Period
12-24 months
Age Range
50-85
Tax Status
Tax-free payout
How to Use This Calculator
1
Enter your age
Input your current age. Over 50s plans are available from age 50 to 80-85 depending on the provider.
2
Select gender
Choose your gender. Life expectancy differences affect payout estimates.
3
Set your monthly premium
Enter the monthly amount you can afford. Typical premiums range from £5 to £100 per month.
4
Review estimated payout
The calculator shows estimated payout, total premiums over your life expectancy, break-even point, and value assessment.
Frequently Asked Questions
What is over 50s life insurance?
Over 50s life insurance is a whole-of-life policy with guaranteed acceptance and no medical questions. You pay a fixed monthly premium for life, and your beneficiaries receive a guaranteed tax-free lump sum when you die. It is designed primarily to cover funeral costs or leave a small inheritance.
Is over 50s life insurance worth it?
It depends on your circumstances. If you cannot get standard life insurance due to health conditions, over 50s plans provide guaranteed cover. However, you can often end up paying more in premiums than the payout amount, especially if you live a long life. Always compare the total premiums you would pay against the payout.
What is the waiting period?
Most over 50s plans have a 12 to 24-month waiting period (also called a moratorium). If you die within this period from natural causes, the insurer only returns the premiums you have paid, not the full payout. Death from accidental causes is usually covered from day one.
Can I cancel over 50s life insurance?
Yes, you can cancel at any time, but you will not get your premiums back. Most plans have a 30-day cooling-off period after taking out the policy during which you can cancel and receive a full refund. Some plans have a cash-in value after a certain period, but this is usually much less than premiums paid.
What happens if I live a long time?
Some plans stop taking premiums after a certain age (e.g., 90) while maintaining cover. Others continue charging premiums for life. If you live long enough, you may pay more in total premiums than the payout amount. This is the main criticism of over 50s plans.
Are there alternatives to over 50s plans?
Yes. A funeral plan (pre-paid funeral) locks in today's prices for a future funeral. Standard life insurance with underwriting may offer better value if you are in reasonable health. A savings account earmarked for funeral costs may be better value if you expect to live many more years. ISAs provide tax-free growth with full access to your money.
Official Sources & References
Data verified against official UK government sources. Last checked April 2026.