Before you compare life insurance for over 65 quotes, there are a few things you’ll need to think about.

  1. Work out how much cover you need

  2. Decide on the type of cover you want

  3. Exclude insurers who do not cover over 65s

  4. Choose how long you want your policy to last

Working out much senior life insurance cover you need

When you start looking into life insurance for elderly people, you’ll see that many insurers offer unlimited seniors insurance. That means you’ll need to decide how much cover you need before you apply.

To work out how much cover you want from your life insurance policy, think about what the payout would be used for, and look how much that policy costs. From there you should be able to decide how much cover you want.

Picking the right kind of life insurance for elderly

If you’re after life insurance for over 65, there are three types of cover you can choose from.

Level term cover is where the payout stays the same throughout the life of your insurance policy.

Decreasing term cover is where the size of the payout reduces each month. It’s good if your payout would be used to pay off a mortgage. As the mortgage goes down, so does the level of cover.

Over 50s life cover guarantees that you’ll be accepted. It gives a fixed payout, based on the premiums you can afford to pay each month.

You can read more about how each type of policy works here.

Should I get senior life insurance?

It’s hard to decide whether senior life insurance is worth having. You should think about your circumstances and work out if it’s an important thing to have.

Senior life insurance can be expensive. You might think it’s money well spent to make sure your family gets a payout when you die. The money could go towards funeral costs, paying off a mortgage or covering your outstanding debts. Or, it could just be a gift for your family to enjoy.

Check the age limits on your seniors insurance

Most seniors insurance companies have upper age limit on their policies. That means that if you’re over 65, some might not be able to offer you cover.

You might need to think about upper age limits when you’re thinking about how long you want the policy to last. Many British senior life insurance companies set a maximum cover age, which is usually between 70 and 85 years old. When you reach the set age, your cover will automatically stop.

How can I find the best-priced British senior life insurance?

It’s important to make sure you do a comparison find the best life insurance for over 65 year olds. Enter your information in here to get quotes.