The Over 50s Life Insurance pay-out process

Reviewed by Thomas May, Lisa Redman

If you've lost a loved one, we understand it can be distressing to make a claim. So for some extra reassurance, in this guide we explain how the Over 50s Fixed Life Insurance payout process works.

At L&G our dedicated claims team have experienced claims assessors that are trained by Samaritans and will be there to talk to loved ones and take the pressure off during this difficult time. We want to help with a stress-free claims process and rest assured - each claim will be treated individually and personally.

Find out how to make an Over 50 Life Insurance claim

How over 50s life insurance works

An over 50s life insurance policy is designed to pay a cash sum when the policyholder passes away. L&G's Over 50s Fixed Life Insurance can be used to help settle unpaid bills, buy a small gift or put some money towards funeral costs.

What to expect from your claim

If the policy holder has died and you'd like to claim for an Over 50s Life Insurnace payout, here is what you can expect from the process.

Fast decisions

In more than 86% of cases, we agree to an Over 50s Fixed Life Insurance payout decision within 24 hours of a valid claim being made (if you provide us with all the necessary information).

A cash sum

100% of claims are paid, so you can expect the plan to payout so long as the premiums have been paid. With our over 50s life insurance policies, the insured person stops paying premiums at age 90, but the cover continues for life.

Payouts after 12 months

Over 50s life insurance policies pay a cash sum if the policyholder has been covered for a year or longer. If they pass away within the first year, we will refund any premiums paid. If they die as a result of an accident full cover will be paid.

How to make an over 50s life insurance claim - step by step

When the policy holder has passed away, you can make a claim as soon as you feel ready. Here is how you can claim for an over 50s life insurance payout in three simple steps.

Contact our team

The easiest way to start a claim is online using our Claims Portal.

If you'd like additional support and would prefer to speak to us directly, please get in touch at any stage.

Get your documents ready

Gather the key documentation listed in this guide, including the death certificate and the policy number.

Make your claim

Once your claim has been submitted, await confirmation of the decision from us - our friendly team will be on hand to answer any questions in the meantime.

We will need the following when we are notified of an Over 50s Life Insurance claim.

Death certificate
A Will, if one is held, which must be signed and witnessed
The date of the policyholder’s death and the claimants contact details
The policy number

Our claims team will let you know if there is anything else needed at the time of claim.

Find out more about how to make an Over 50s Life Insurance claim

Frequently asked questions

You will need to be listed as a life insurance beneficiary in order to receive the cash sum from an Over 50s Fixed Life Insurance payout. The beneficiary is often a spouse, sibling, or adult son or daughter of the insured person. The cash sum can then be used according to the wishes of the deceased - which may be mentioned in their letter of wishes.

Where the policy is not placed in Trust or there is no will, we follow the law of intestacy. In these situations, we will pay the claim according to the order of intestacy - find out more on GOV.UK, or read our guide about dying without a will.

In the majority of cases, you do not need to apply for a grant of probate in order to make an over 50s life insurance claim. We understand that some families choose to put an over 50s life insurance payout towards funeral costs, so we endeavour to ensure the process can be completed within days.

The cash sum will be paid as soon as possible once our assessors have gathered any necessary information from third parties. We also offer a Funeral Payment Pledge that could help you partially finance a funeral if your valid claim has been delayed.

Unless an over 50s life insurance policy has been written in trust, the value of the policy will form part of the estate of the deceased person, so it could be subject to Inheritance Tax (IHT). But of course, the Inheritance Tax threshold is £325,000 for 2026/27, so not every estate is required to pay IHT.

If you are a named executor of the estate, you'll be responsible for managing your loved one's financial affairs, which includes making a claim for a life insurance payout and paying any taxes owed.

It's worth noting that if a valid claim is made, L&G will pay the person (or people) who are legally entitled to receive the proceeds. But if a policy has been written in trust, we will pay out to the trustees rather than the estate, and there should be no Inheritance Tax Liability.

You can claim on an over 50s life insurance policy as soon as the death certificate has been issued, and gather the other documents covered on this page, such as the will. It may take a few days to obtain these documents before you decide the make the life insurance claim.

People to talk to

CRUSE Bereavement Care

Somewhere to turn to when a loved one dies

Call: 0808 808 1677

Samaritans

Contact Samaritans anytime for confidential support

Macmillan

Cancer support every step of the way

Call: 0808 808 00 00

British Heart Foundation

Further information about heart disease

Helpful resources following a death

Dealing with the death of a loved one can of course be difficult, and we'll do everything we can to help make the over 50s life insurance payout process as stress-free as possible. For some helpful tips on managing in the immediate aftermath of a death, read our guide on what to do when someone dies, or explore the additional resources below.

Practical support when someone dies

UK Government website - Public services all in one place.

www.direct.gov.uk

Macmillan Financial Support

The Macmillan Support Line offers confidential support to people living with cancer and their loved ones. If someone is worried about money, work or treatment, or just wants to speak about whatever matters to them, they will listen and support.

T: 0808 808 0000

www.macmillan.org.uk/information-and-support/organising/benefits-and-financial-support/benefits-and-your-rights

Age UK - Working to improve later life for everyone.

T: 0800 169 6565

www.ageuk.org.uk

Money Advice Service - Provides advice on money matters after death.

www.moneyadviceservice.org.uk/en

Citizens Advice Bureau - Provides advice on rights and responsibilities.

www.citizensadvice.org.uk

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Thomas May

Senior Propositions Manager, Retail Protection, Business, Tax and Trusts

Thomas oversees all tax, trust and business protection matters for our Retail Protection business at Legal & General. Thomas is our senior trust and estate administration expert and leads the development of new products, ensuring they comply with relevant regulations. Thomas joined us in 2006 and has a wealth of experience working across different parts of the business. He’s proud to support good outcomes for customers, particularly at claims stage when our help is most needed.

More about Thomas

Lisa Redman

Senior Propositions Manager, Retail Protection

Lisa works in UK Retail Protection Proposition Development team and is responsible for identifying and assessing new product and proposition enhancements to meet customer needs, with a strong emphasis on regulatory compliance ensuring all required governance is completed.

More about Lisa