Over 50s Life Insurance


'Provided by Legal & General'

  • Cover from £5 per month depending on age
  • Your loved ones could get a cash sum after just one year
  • For UK residents aged 50 to 80, with no medical questions or health assessment
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Leave more than just memories

When you have spent all your life taking care of your loved ones, the last thing you want to worry about is leaving them with financial worries. Our Over 50s Life Insurance Plan from Legal & General, is designed to meet the demands and needs of people aged 50 to 80 who don’t have funds to leave behind. Perhaps you’d like to help contribute towards funeral costs or to leave a cash gift to loved ones when you die.

This straightforward Life Insurance Plan for the Over 50s is for people who want a simple application process, with guaranteed acceptance and is for those who prefer not to answer medical questions or lifestyle questions.

Our Over 50s Life Insurance Plans offer a higher cash sum than many of our competitors. We offer a range of monthly premiums and these can start from £5 a month depending on your age. Premiums will remain the same through the term of your policy so you always know how much you need to pay.

If you have any queries relating to this product you can contact Legal & General directly on 0800 027 1978. Calls may be monitored and recorded.


Our comparison is based on a 65 year old paying £20 a month. ‘Payout’ and ‘Payable’ taken from SunLife, LV and Aviva websites on 04.06.2017. The level of cost and payout is dependent on your individual circumstances. All terms and conditions vary.

  • A claim can be made after one year, regardless of the cause of death. If you die from natural causes within the first year we will refund any premiums paid, unless you die as the result of an accident, when we will pay your cash sum.
  • Flexibility to reduce your premium after one year if your circumstances have changed. Minimum premium applies.
  • UK based call centres to help you when you need it.

 

Important information about the plan

Cash Value
Remember, this is not a savings or investment plan and has no cash value until a valid claim is made.

Premiums and Cash Sum
Your cash sum is fixed at outset and inflation will reduce its buying power over time.

If you stop paying premiums before the end of your policy, your cover will end 30 days after your missed premium and you won’t get anything back.

If you choose to reduce your premiums, your cash sum will also be reduced.

You can take out more than one plan, but the total cash sum value of all Legal & General Over 50s Life Insurance Plans (including existing plans) must not exceed £25,000.

Depending on how long you live, total premiums paid may be greater than the cash sum payable on death.

You can help make sure the cash sum reaches the people that you would like to protect by placing the plan in Trust. Please read the Over 50s Policy Summary below for further information.

Funeral Costs
The Fixed Plan is not designed to meet the full costs of a funeral, and does not guarantee to do so.

Guaranteed Acceptance
Guaranteed acceptance for 50 to 80 year old UK residents. There may be other products available if you want to answer lifestyle and medical questions.

Over 50s Policy Summary

Policy Terms & Conditions

Terms of Business

Why have Abbey chosen Legal & General?

For Over 50s Life Insurance, Abbey are delighted to introduce Legal & General as the insurance provider behind this product. Over 50s Life Insurance is designed to help those who want to leave money towards their funeral costs, leave a gift to family or loved ones, or for everyday bills when you die.

In times of financial uncertainty, it’s important to know that you’re taking out life cover with a company that will still be around in years to come.

FAQs

Do I need a medical?

No, you will not need to answer any medical questions or have a health assessment.

Can my partner take out cover as well?

Your partner can also apply for a plan providing they are aged 50 to 80 and a UK resident and reside in the UK for at least 183 days per calendar year. However, as the plans are set up individually, they cannot be held in joint names.

Will my premiums ever go up?

With the Fixed Plan, premiums are guaranteed never to go up, and so this plan is ideal if you want the reassurance of a fixed premium.

How many plans can I take out?

You can take out more than one plan, but the total cash sum value of all Legal & General Over  50s Life Insurance Plans (including existing plans) must not exceed £25,000.

How do I make a claim?

You can make a claim by calling Legal & General on 0800 137 101. We may monitor and record calls.

Can I cash in my plan

The plans are not savings or investment products and have no cash value unless a valid claim is made.

Can I reduce my monthly payments

You may be able to reduce your monthly premium as long as you have held your plan for at least a year. If you reduce your premium your cash sum will also be reduced. Minimum premium applies.

Over 50s Life insurance is provided by Legal & General Assurance Society Limited, Registered Office: One Coleman Street, London, EC2R 5AA (registered in England and Wales no. 166055). Legal & General Assurance Society Limited is regulated by the Financial Conduct Authority and the Prudential Regulation Authority.