Over 50s Plan

The Over 50s Plan provides a fixed cash lump sum on your death to leave as a gift or to help towards your funeral costs and final bills. If you are aged between 50 and 75 you are guaranteed acceptance, you will not be required to answer any health questions or attend a medical.

Key features

  • Guaranteed acceptance
  • Policy guaranteed not to rise
  • Guaranteed fixed cash sum
  • Receive £250 Funeral benefits
  • Policy can be written in Trust

Read more on the Over 50s Plan

Plans start from as little as £10 a month and the premiums are guaranteed never to rise during the life of the plan. Your cover will never be reduced regardless of your health in the future and you will not need to pay premiums past the age of 90.

If you are looking to take the cover out for funeral expenses you can choose to nominate your final payout to Golden Charter, the UK’s leading independent funeral provider. Golden Charter will not only take care of all the funeral arrangements but will also contribute an extra £250 towards the cost.

What is an over 50s Plan?

An Over 50s plan is a whole of life insurance policy that provides a fixed cash lump sum on your death. It is not a savings plan and you will not be entitled to refund of premiums should you need or want to stop paying into the plan before you die.

What are the advantages of an Over 50s Plan?

An Over 50s plan will cover you until you die, unlike term life insurance policies that only payout if you die within a specific amount of time. Over 50s plans also provide guaranteed acceptance regardless of the state of your health.

How much will it cost?

Premiums range from as little as £10 a month up to £50 a month. The amount you’ll actually pay would generally depend on your age and the level of cover you would like to take up.

What do I need to consider when taking out an over 50s plan?

If you die of natural causes within the first two years of the plan, the insurer will pay one and a half times the total premiums paid to the date. If your death was caused by an accident then the level of cover you have chosen in your plan will be paid.

What happens if I stop paying my premiums?

If you do stop paying the premiums before age 90 the cover will cease and a lump sum will not be payable on your death. This plan has no encashment value and therefore you will not receive any money back if you stop paying the premiums.

Can I have the plan written in Trust?

Yes, this plan can be written in trust. A Trust is simply a legal arrangement that allows you to give away your assets immediately, without losing your control. You decide who will receive the proceeds of your life insurance policy; removing the need for probate which would mean that your loved ones are likely to receive the money much quicker. It also gives you control on who will benefit from the proceeds; guaranteeing that only the people you have selected will benefit.

If you need help with Over 50s Plan’s, you should speak to one of our Insurance advisers. Simply call 02380 213401 and we would love the opportunity to assist you, or enquire below.

Why use our service

Being completely independent and not tied to one insurer, Permanent Alliance listen to your needs and budget, to search from the whole market for the best Over 50s Plan for you. Whether you’re looking for the most affordable cover, or a comprehensive policy to cover all eventualities, Permanent Alliance is the right company to advise you on an Over 50s Plan.

We offer special discounts and offers, such as our first year cash-back offer, where you can get up to £50 back you don’t claim. Our friendly and caring team of advisers are here to make sure you make the right choice, so call us today, and see how we can help you.

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* If you find a cheaper like for like policy within 30 days of your policy starting and we are unable to match it we will give you up to £50 in shopping vouchers.

** For policies that are taken up in the promotional month indicated, we will pay cash back up to a maximum of £50 in the first year from the commission we receive from the insurer. Our standard Terms and Conditions will apply.

*** Permanent Alliance are authorised and regulated by the Financial Conduct Authority to give advice and make recommendations on general insurance products and services.