Funeral costs
The lump sum could be used to help your family meet funeral expenses when the time comes.
Over 50s Life Insurance
Leave something behind for the people you love
Over 50s Life Insurance is a simple way to arrange a cash lump sum for your loved ones when you die. The money could help with funeral costs, outstanding debts or simply provide a financial gift to the people who matter to you.
A simple way to plan ahead
Arrange a lump sum for your beneficiaries
through manageable monthly premiums.
For your loved ones
The policy is designed to provide a cash sum to your beneficiaries when you die.
Guaranteed acceptance
The current Lotus Life Review policy offering is designed to provide acceptance regardless of your current health or lifestyle.
Fixed monthly payments
Pay a regular monthly amount to keep your cover in place.
Understanding the cover
What is Over 50s Life Insurance?
It is a type of life insurance specifically designed for people later in life who want to leave a cash sum behind for their loved ones.
Over 50s Life Insurance can generally be taken out from age 50 up to age 80–85, depending on the insurer.
You pay a fixed monthly amount and, provided the required payments continue to be made and the policy remains in force, the cover is designed to provide a cash sum for your loved ones when you pass away.
Whether you are in your 50s, 60s or 70s, an Over 50s policy can offer a straightforward way to make financial provision for the future.
Designed to be straightforward
The current Lotus Life Review page describes its Over 50s cover as offering guaranteed acceptance, so your current health or lifestyle does not prevent you from qualifying for the cover.
Leaving something behind
What could the lump sum be used for?
The money paid to your beneficiaries can help them meet different financial needs after you die.
Outstanding debts
Your beneficiaries may choose to use some or all of the payment to settle outstanding financial commitments.
A financial gift
You may simply want to leave money behind as a gift for children, grandchildren or other loved ones.
How it works
A straightforward way to put cover in place
An Over 50s plan is designed to keep the process of arranging life cover simple.
01
Choose your cover
Decide how much cover you would like to arrange for your beneficiaries.
02
Agree the premium
Your monthly premium will depend on factors including your age and the amount of cover.
03
Keep paying monthly
Continue making the required monthly payments so the policy remains in force.
04
Leave a cash sum
When you die, the policy is designed to provide the agreed benefit to your beneficiaries.
Key things to know
Is Over 50s cover right for you?
Over 50s Life Insurance is designed for people who want a relatively simple way to leave money behind without arranging a more traditional life insurance policy.
As with any protection product, it is important to understand how the policy works, what you will pay and the amount your beneficiaries could receive.
Age eligibility
Cover can typically be arranged between age 50 and age 80–85, depending on the insurer.
Fixed monthly amount
You make regular monthly payments to keep the cover in place.
Acceptance
The current Lotus Life Review page describes the Over 50s policy as offering guaranteed acceptance regardless of current health or lifestyle.
Benefit for your loved ones
The value of the cover is intended for your beneficiaries rather than as a savings pot for you.
Over 50s Life Insurance has no cash value
This type of policy is designed to provide a benefit to your beneficiaries when you die. It does not build up a cash value that you can withdraw during your lifetime. Keeping the required payments up to date is important for maintaining the policy.
How much does it cost?
Cover from a manageable monthly amount
The current Lotus Life Review Over 50s offering advertises fixed premiums starting from £5 per month.
The amount you pay will depend on factors such as your age and the amount of cover you want to arrange.
Premiums currently advertised from
£5
per month
Your actual premium and level of cover will depend on your individual circumstances and the policy available to you.
Get My QuoteWant to leave something behind for your loved ones?
Speak to Lotus Life Review about your Over 50s Life Insurance options.