We can’t be certain of many things in life, but over 50s life insurance offers three reassuring guarantees. The first? A payout for your loved ones when you pass away. With our over 50s policy, this can be up to £25,000 lump sum (after the qualifying period). It won’t be subject to income tax or capital gains tax and, if you put it in a suitable trust, there shouldn’t be an inheritance tax bill. You will be insured for the rest of your life as long as you pay the monthly premiums when due.
The second thing you can count on? If you’re aged 50 to 80 years old and a resident in the UK you can definitely get cover, no matter what your medical history. There are no health questionnaires to disqualify your application. That means pre-existing conditions and lifestyle choices won’t rule you out. And there’s another advantage to not providing medical information – your application is so much quicker. You can get a quote in just a couple of minutes.
Finally, in a world where everything seems to be getting more expensive, your premiums will stay exactly the same. These start at £10 a month (or £2.30 a week) but ultimately depend on the size of benefit you want your loved ones to receive, your age when you apply and whether or not you smoke.
What's Covered:
| Cause of Death within 24 months of the Policy Start Date | Benefit payable | Policy Wording page reference |
|---|---|---|
| Death as a result of an accident (other than for reasons stated below) |
Full Benefit as stated in the policy schedule |
See page 9 |
| Death by self-inflicted injury | Return of premiums paid |
See page 9 |
| Death as a result of participation in hazardous pursuits (eg parachuting, motor sports, diving, potholing, caving, mountaineering etc) |
||
| Death due to committing or participating in criminal acts | ||
| Death as a result of war (whether declared or not), riot or civil commotion |
||
| Death from taking illegal drugs | ||
| Death from alcohol consumption | ||
| Death by any other cause (eg natural causes) | Return of premium(s) paid |
See page 9 |
| Cause of Death on or after 24 months of the Policy Start Date |
Benefit payable | Policy Wording page reference |
| Death by any cause | Full Benefit as stated in the policy schedule | See page 9 |
What's Not Covered:
Once you have held the policy for 2 years ANY cause of death is covered with no exclusions whatsoever. Accidental death is covered from Day 1 as long as it does not result from the Policy Exclusions which are:
✗ Self-inflicted injury, suicide or attempted suicide by You, regardless of the state of Your mental health;
✗ Participating in any criminal act;
✗ Participating in hazardous pursuits; (Meaning engaging in private aviation, parachuting, motor sports (including motorcars, motorcycles and speedboats), sports underwater diving, caving/ potholing or mountaineering (other than hill walking, trekking, abseiling or artificial wall climbing);
✗ War (whether declared or not), riot or civil commotion;
✗ Taking drugs (unless these were prescribed by a UK registered Medical professional);
✗ Reckless consumption of alcohol (Consumption of alcohol such that it results in mental or physical impairment which causes the accident or results in you doing something you would not normally do without the influence of alcohol).
Things to Consider:
- This policy only pays when you die - it can’t be cashed in at any time
- Inflation may reduce the value of your benefit payment
- If you stop your monthly payments, you’ll get nothing back
- Depending on how long you live for, you may pay more in premiums than is paid out
- Premiums are payable for 30 years or until age 90 whichever comes first. You should consider affordability of premiums during retirement years, when income may be lower.
These days it’s easy to get caught up in the cost of living but fewer people are talking about the cost of dying. The average price of a basic funeral has risen substantially over the years and, according to the 2024 Cost of Dying report, now stands at £4,141. If you consider all the other associated expenses (professional fees, send-off costs, catering etc), the actual figure may be considerably higher: £9,658.
What relevance does this have to over 50s life insurance? Quite a lot, actually. Having a policy could help prevent your family being burdened with these funeral costs when you die, or help with any other outstanding debts, if you don’t have an existing savings pot to dip into. Plus, with Over 50s Life Insurance, a full payout of the benefit amount is guaranteed, if death occurs after the first 24 months and you continue to pay the monthly premiums when due. Cover for accidental death is immediate and after a 24-month waiting period, you’re completely covered for death by any cause.
Funeral plans are also an option, however, it’s also worth knowing that some funeral plans don’t guarantee to cover all the costs associated with a funeral.
What makes over 50s life insurance different is there’s huge flexibility to use the payout in other ways too. It can help provide financial support for loved ones, and be spent however they choose. It can help loved ones maintain their existing lifestyle or build a nest egg for the grandchildren. You could even donate it charity.
Another reason you might need an over 50s plan is if health problems have stopped you getting other forms of life insurance in the past. No matter how many times you’ve been declined for those, an over 50s policy is open to those aged over 50, regardless of medical history. This makes it particularly attractive if you have underlying medical condition or life limiting illness. Your loved ones will receive the full benefit on your passing, provided the 24-month qualifying period has been met. This can provide immense peace of mind and leave you to concentrate fully on staying well rather than worrying about family finances when you’re gone.
Finally, accidents happen. As with all unforeseen events, there’s nothing anyone can do to prevent that, but this policy does at least provide for your loved ones in the event of accidental death. Unlike the 24-month caveat mentioned above, in this instance payouts can be claimed from the moment the policy starts.
If you’re still not sure whether you need over 50s life insurance, take a look at the MoneyHelper website, a free service provided by the Money and Pensions Service. You’ll find the pros and cons of this insurance explained clearly, as well as alternatives to over 50s plans if you decide this cover isn’t for you.
Here’s why our customers have chosen our life insurance
“To have some financial security for my family and to pay for my funeral in the event of my death.”
“To ensure those I leave behind, should the unthinkable happen, are looked after in at least the short term”
“Peace of mind, financial security for myself and my partner, affordability and excellent terms of service of the products”
“I have been wanting to take out cover for a while and I have always been asked so many questions that made it stressful… I was at ease and not asked many questions and I felt at ease and not stressed about too many questions.”
Download policy documentation
Please read the policy documents carefully. Clicking on the files below will open a new window in which a PDF document will appear. You will need Adobe Reader to see these documents.
We do everything we can to ensure we’re giving you the best possible service, whatever your circumstances. If you require additional support and would like to find out more or to request information in a different format, please contact our friendly customer services team on 0345 026 1101.
UK residents aged 50 to 80 at the Policy start date can get covered – with no medical questions to answer. You will need to have a UK bank account and tell us your smoker status.
Acceptance is guaranteed, and you will be covered for the whole of your life, as long as you continue to pay the Monthly Premiums.
No. Cover is only available to residents of England, Scotland, Northern Ireland and Wales.
You are covered immediately for accidental death, which did not arise from any of the Policy Exclusions. Death as a result of any of the exclusions (as listed in Policy Wording) and natural causes in the first 24 months, will result in full return of premiums but no lump sum benefit will be paid. After this period you will be covered for death from any cause, provided you have paid all your Monthly Premiums when due.
Yes, as long as it’s not resulting from one of the excluded events below:
No. However, although we don’t offer joint policies, your partner is welcome to take out a separate policy in their own name. They will also need to meet the eligibility criteria and be aged 50 – 80 and a UK resident.
The Policy offers a choice of lump sums between £1,000 and £25,000, going up in multiples of £1,000, however, the amount of cover you can have will depend on your age and smoker status.
Once your Policy starts you cannot increase your Cash Lump Sum but you can set up an additional Policy subject to an overall maximum Benefit limit of £25,000 and/or maximum premiums of £100 per month.
The cost of your Policy will depend on your age and your smoking status.
The minimum monthly premium is £10 per policy, and the total monthly premium cannot be more than £100 per month across all the Over 50s Life Insurance Policies that you have with Chubb Life Europe SE.
No. One of the best features of this policy is that we guarantee to never increase your monthly premium.
You cannot increase your premiums on a policy once it is in force, but you can take out further additional policies, subject to an overall maximum Benefit limit of £25,000 and/or maximum premiums of £100 per month, across all policies you hold with CHUBB. Each additional policy you take out will be subject to its own 24-month moratorium period.
You can reduce cover and/or premiums at any time, provided your reduced premiums are at or above the minimum monthly premium of £10 per policy. Reducing your premiums will reduce the level of Benefit payable in the event of your death.
The effects of inflation will reduce what your policy Benefit can buy in the future. It is important that you select a cover amount that is suitable for your needs, and you review your cover periodically.
This Over 50s Life insurance is underwritten by Chubb Life Europe SE (“CHUBB”)
Cover will start immediately for accidental death. For the first 2 years you cannot claim for death from natural causes, after this period you will be covered for death from any cause provided you have paid all your Monthly Premiums when due.
No, this policy covers accidental death for the first 2 years after which death from any cause is covered. This means that death from sickness or natural causes within the first 2 years of the policy is NOT covered. This would include coronavirus (COVID-19).
Cover ends when you die or stop paying the premiums and your policy lapses.
Premiums are payable monthly from when you purchase the policy for a maximum of 30 years, or until age 90 (or earlier death), whichever occurs first. You should consider affordability over that period, especially during normal retirement years, when your level of income may drop.
It means that as long as you meet the eligibility criteria: that you are a UK resident aged between 50 and 80 at the start date, with a UK bank account, then you will be accepted for cover. We won’t ask any medical or health questions.
To make a Claim, it is important to contact Chubb Life Europe SE as soon as possible on 0800 519 9955 or email uk.claims@chubb.com or by post to Chubb, The Sentinel Building, 103 Waterloo Street, Glasgow, G2 7BW, United Kingdom
The benefit is not taxed at source, however, depending on the value of your estate when you die, the Cash Lump Sum on death may be subject to Inheritance Tax which is set by the government.
You can cancel the policy within 30 days of the start date and we will refund any premium paid if no claim has been made. Following this, you may cancel the policy at any time but no refund of premium will be paid. You can cancel by writing, emailing or calling a member of our Customer Services team:
UIB, 39/51 Highgate Road, London, NW5 1RT
customercare@uibuk.com
0345 026 1101*
* Calls cost no more than calls to numbers starting with 01 or 02 and if you are calling from a mobile phone, calls will count towards any inclusive minutes you have rather than being charged separately. Lines are open Mon to Fri 9 am to 6 pm. For your protection calls may be monitored and recorded.
We can’t be certain of many things in life, but over 50s life insurance offers three reassuring guarantees. The first? A payout for your loved ones when you pass away. With our over 50s policy, this can be up to £25,000 lump sum (after the qualifying period). It won’t be subject to income tax or capital gains tax and, if you put it in a suitable trust, there shouldn’t be an inheritance tax bill. You will be insured for the rest of your life as long as you pay the monthly premiums when due.
The second thing you can count on? If you’re aged 50 to 80 years old and a resident in the UK you can definitely get cover, no matter what your medical history. There are no health questionnaires to disqualify your application. That means pre-existing conditions and lifestyle choices won’t rule you out. And there’s another advantage to not providing medical information – your application is so much quicker. You can get a quote in just a couple of minutes.
Finally, in a world where everything seems to be getting more expensive, your premiums will stay exactly the same. These start at £10 a month (or £2.30 a week) but ultimately depend on the size of benefit you want your loved ones to receive, your age when you apply and whether or not you smoke.
What's Covered:
| Cause of Death within 24 months of the Policy Start Date | Benefit payable | Policy Wording page reference |
|---|---|---|
| Death as a result of an accident (other than for reasons stated below) |
Full Benefit as stated in the policy schedule |
See page 9 |
| Death by self-inflicted injury | Return of premiums paid |
See page 9 |
| Death as a result of participation in hazardous pursuits (eg parachuting, motor sports, diving, potholing, caving, mountaineering etc) |
||
| Death due to committing or participating in criminal acts | ||
| Death as a result of war (whether declared or not), riot or civil commotion |
||
| Death from taking illegal drugs | ||
| Death from alcohol consumption | ||
| Death by any other cause (eg natural causes) | Return of premium(s) paid |
See page 9 |
| Cause of Death on or after 24 months of the Policy Start Date |
Benefit payable | Policy Wording page reference |
| Death by any cause | Full Benefit as stated in the policy schedule | See page 9 |
What's Not Covered:
Once you have held the policy for 2 years ANY cause of death is covered with no exclusions whatsoever. Accidental death is covered from Day 1 as long as it does not result from the Policy Exclusions which are:
✗ Self-inflicted injury, suicide or attempted suicide by You, regardless of the state of Your mental health;
✗ Participating in any criminal act;
✗ Participating in hazardous pursuits; (Meaning engaging in private aviation, parachuting, motor sports (including motorcars, motorcycles and speedboats), sports underwater diving, caving/ potholing or mountaineering (other than hill walking, trekking, abseiling or artificial wall climbing);
✗ War (whether declared or not), riot or civil commotion;
✗ Taking drugs (unless these were prescribed by a UK registered Medical professional);
✗ Reckless consumption of alcohol (Consumption of alcohol such that it results in mental or physical impairment which causes the accident or results in you doing something you would not normally do without the influence of alcohol).
Things to Consider:
- This policy only pays when you die - it can’t be cashed in at any time
- Inflation may reduce the value of your benefit payment
- If you stop your monthly payments, you’ll get nothing back
- Depending on how long you live for, you may pay more in premiums than is paid out
- Premiums are payable for 30 years or until age 90 whichever comes first. You should consider affordability of premiums during retirement years, when income may be lower.
These days it’s easy to get caught up in the cost of living but fewer people are talking about the cost of dying. The average price of a basic funeral has risen substantially over the years and, according to the 2024 Cost of Dying report, now stands at £4,141. If you consider all the other associated expenses (professional fees, send-off costs, catering etc), the actual figure may be considerably higher: £9,658.
What relevance does this have to over 50s life insurance? Quite a lot, actually. Having a policy could help prevent your family being burdened with these funeral costs when you die, or help with any other outstanding debts, if you don’t have an existing savings pot to dip into. Plus, with Over 50s Life Insurance, a full payout of the benefit amount is guaranteed, if death occurs after the first 24 months and you continue to pay the monthly premiums when due. Cover for accidental death is immediate and after a 24-month waiting period, you’re completely covered for death by any cause.
Funeral plans are also an option, however, it’s also worth knowing that some funeral plans don’t guarantee to cover all the costs associated with a funeral.
What makes over 50s life insurance different is there’s huge flexibility to use the payout in other ways too. It can help provide financial support for loved ones, and be spent however they choose. It can help loved ones maintain their existing lifestyle or build a nest egg for the grandchildren. You could even donate it charity.
Another reason you might need an over 50s plan is if health problems have stopped you getting other forms of life insurance in the past. No matter how many times you’ve been declined for those, an over 50s policy is open to those aged over 50, regardless of medical history. This makes it particularly attractive if you have underlying medical condition or life limiting illness. Your loved ones will receive the full benefit on your passing, provided the 24-month qualifying period has been met. This can provide immense peace of mind and leave you to concentrate fully on staying well rather than worrying about family finances when you’re gone.
Finally, accidents happen. As with all unforeseen events, there’s nothing anyone can do to prevent that, but this policy does at least provide for your loved ones in the event of accidental death. Unlike the 24-month caveat mentioned above, in this instance payouts can be claimed from the moment the policy starts.
If you’re still not sure whether you need over 50s life insurance, take a look at the MoneyHelper website, a free service provided by the Money and Pensions Service. You’ll find the pros and cons of this insurance explained clearly, as well as alternatives to over 50s plans if you decide this cover isn’t for you.
Here’s why our customers have chosen our life insurance
“To have some financial security for my family and to pay for my funeral in the event of my death.”
“To ensure those I leave behind, should the unthinkable happen, are looked after in at least the short term”
“Peace of mind, financial security for myself and my partner, affordability and excellent terms of service of the products”
“I have been wanting to take out cover for a while and I have always been asked so many questions that made it stressful… I was at ease and not asked many questions and I felt at ease and not stressed about too many questions.”
Download policy documentation
Please read the policy documents carefully. Clicking on the files below will open a new window in which a PDF document will appear. You will need Adobe Reader to see these documents.
We do everything we can to ensure we’re giving you the best possible service, whatever your circumstances. If you require additional support and would like to find out more or to request information in a different format, please contact our friendly customer services team on 0345 026 1101.
UK residents aged 50 to 80 at the Policy start date can get covered – with no medical questions to answer. You will need to have a UK bank account and tell us your smoker status.
Acceptance is guaranteed, and you will be covered for the whole of your life, as long as you continue to pay the Monthly Premiums.
No. Cover is only available to residents of England, Scotland, Northern Ireland and Wales.
You are covered immediately for accidental death, which did not arise from any of the Policy Exclusions. Death as a result of any of the exclusions (as listed in Policy Wording) and natural causes in the first 24 months, will result in full return of premiums but no lump sum benefit will be paid. After this period you will be covered for death from any cause, provided you have paid all your Monthly Premiums when due.
Yes, as long as it’s not resulting from one of the excluded events below:
No. However, although we don’t offer joint policies, your partner is welcome to take out a separate policy in their own name. They will also need to meet the eligibility criteria and be aged 50 – 80 and a UK resident.
The Policy offers a choice of lump sums between £1,000 and £25,000, going up in multiples of £1,000, however, the amount of cover you can have will depend on your age and smoker status.
Once your Policy starts you cannot increase your Cash Lump Sum but you can set up an additional Policy subject to an overall maximum Benefit limit of £25,000 and/or maximum premiums of £100 per month.
The cost of your Policy will depend on your age and your smoking status.
The minimum monthly premium is £10 per policy, and the total monthly premium cannot be more than £100 per month across all the Over 50s Life Insurance Policies that you have with Chubb Life Europe SE.
No. One of the best features of this policy is that we guarantee to never increase your monthly premium.
You cannot increase your premiums on a policy once it is in force, but you can take out further additional policies, subject to an overall maximum Benefit limit of £25,000 and/or maximum premiums of £100 per month, across all policies you hold with CHUBB. Each additional policy you take out will be subject to its own 24-month moratorium period.
You can reduce cover and/or premiums at any time, provided your reduced premiums are at or above the minimum monthly premium of £10 per policy. Reducing your premiums will reduce the level of Benefit payable in the event of your death.
The effects of inflation will reduce what your policy Benefit can buy in the future. It is important that you select a cover amount that is suitable for your needs, and you review your cover periodically.
This Over 50s Life insurance is underwritten by Chubb Life Europe SE (“CHUBB”)
Cover will start immediately for accidental death. For the first 2 years you cannot claim for death from natural causes, after this period you will be covered for death from any cause provided you have paid all your Monthly Premiums when due.
No, this policy covers accidental death for the first 2 years after which death from any cause is covered. This means that death from sickness or natural causes within the first 2 years of the policy is NOT covered. This would include coronavirus (COVID-19).
Cover ends when you die or stop paying the premiums and your policy lapses.
Premiums are payable monthly from when you purchase the policy for a maximum of 30 years, or until age 90 (or earlier death), whichever occurs first. You should consider affordability over that period, especially during normal retirement years, when your level of income may drop.
It means that as long as you meet the eligibility criteria: that you are a UK resident aged between 50 and 80 at the start date, with a UK bank account, then you will be accepted for cover. We won’t ask any medical or health questions.
To make a Claim, it is important to contact Chubb Life Europe SE as soon as possible on 0800 519 9955 or email uk.claims@chubb.com or by post to Chubb, The Sentinel Building, 103 Waterloo Street, Glasgow, G2 7BW, United Kingdom
The benefit is not taxed at source, however, depending on the value of your estate when you die, the Cash Lump Sum on death may be subject to Inheritance Tax which is set by the government.
You can cancel the policy within 30 days of the start date and we will refund any premium paid if no claim has been made. Following this, you may cancel the policy at any time but no refund of premium will be paid. You can cancel by writing, emailing or calling a member of our Customer Services team:
UIB, 39/51 Highgate Road, London, NW5 1RT
customercare@uibuk.com
0345 026 1101*
* Calls cost no more than calls to numbers starting with 01 or 02 and if you are calling from a mobile phone, calls will count towards any inclusive minutes you have rather than being charged separately. Lines are open Mon to Fri 9 am to 6 pm. For your protection calls may be monitored and recorded.
