Planning for the future can give you extra peace of mind and could help your loved ones when they need it most. 

Our Over 50s Life Insurance Plan is designed to meet the demands and needs of people aged 50 to 80 who don’t have funds to help contribute towards funeral costs or to leave as a gift to family and want a cash sum to give to their loved ones when they die. It’s for people who want guaranteed acceptance with a simple application process and would prefer not to answer medical or lifestyle questions.

The Increasing Plan pays a cash sum if you die after one year of starting the plan and is designed to help protect your cash sum against inflation.

The Increasing Plan offers:

  • Premiums from £5 a month depending on your age
  • Guaranteed acceptance for 50 to 80 year old UK residents. There may be other products available if you want to answer lifestyle and medical questions
  • Your loved ones could get a cash sum after just one year, see compare our plans.
  • Cover that keeps pace with inflation, helping to protect the value of your cash sum
  • Cover that lasts for the rest of your life, even though you stop paying premiums at age 90
  • Get an extra £300 contribution towards your funeral costs with the Funeral Benefit Option

Our minimum cash sum of £1000 means your loved ones could receive a cash sum that could make a difference when they need it most, even if you choose our lowest monthly premium.

Important things you need to know

Cash value Please remember that this is not a savings or investment product and has no cash value until a valid claim is made.
What happens in year one? In the first year, if you die from natural causes we'll refund your premiums. If you die as the result of an accident, we will pay your cash sum.
Premiums and cash sum

Depending on how long you live, total premiums paid to us may be greater than the cash sum payable on death.

We will pay your cash sum if you die after one year from the start of your plan regardless of the cause of death.

Premiums stop on your 90th Birthday, but your cash sum will continue to be reviewed every year in line with the change in the Retail Price Index (RPI).

If you stop paying premiums when due your plan will be cancelled and you will not get anything back.

Please ensure the total cash sum of all Legal & General Over 50s Life Insurance plans does not exceed £10,000. For existing plans taken out before 25 November 2017 please refer to your Policy Terms & Conditions for your total sum assured value.

You can help make sure that the cash sum reaches the people that you would like to protect by placing the plan in Trust. Please see the Over 50s Policy Summary  PDF: 132KB for more information.

Annual review

Your cash sum is reviewed each year in line with the change in the Retail Prices Index (RPI). Your premium will increase by any change in RPI multiplied by 1.5. To keep pace with inflation you need to make sure you can afford the future premium increases.

You can decline the annual review and your cash sum and premium will remain fixed. If you decline, inflation will reduce the buying power of the cash sum in future. You won't be able to increase your cash sum or premium in future years, although you may be able to reduce your premium. If you reduce your premium your cash sum will also be reduced, minimum premium applies.

Read more about the annual review

Premium and cash sum increases

If RPI rises above 10%, the maximum increase in your cash sum will be 10% and the maximum increase in your premium will be 15%. If RPI is less than or equal to 0% there will be no increase in the cash sum or premium.

Funeral costs The Increasing Plan is not designed to meet the full costs of a funeral, and does not guarantee to do so. 
Guaranteed Acceptance Guaranteed acceptance for 50 to 80 year old UK residents. There may be other products available if you want to answer lifestyle and medical questions.