Over 50s Life Cover pays out a guaranteed lump sum on death. An over 50s Life Insurance Policy is designed to help pay for funeral expenses or to help cover any outstanding loans or bills you may have when you pass away.
Anyone applying for over 50s Life Insurance between the ages of fifty to eighty is automatically accepted; there is no medical questionnaire involved on application. If you have ever been declined life insurance due to your medical history you will be automatically accepted for an over 50s Life Insurance plan.
Over 50s Life Insurance is a single life plan that pays out a lump sum on death. The policy will only pay out in the first two years on accidental death; however, if you die of natural causes in the first two years, all premiums paid to that point are refunded to your estate. The level of life cover chosen is guaranteed to be paid out once you have paid all of your regular premiums until the time of your death or on reaching ninety. At ninety you stop paying regular premiums but your level of life cover remains in place until death.
The cost of your over 50s Life Insurance plan will depend on the level of Life Cover you chose. The minimum premium on an over 50s Life cover plan is €15 per month.
Guaranteed Acceptance: All you need is to be aged over 50 and under 80.
No Medicals: You won’t be asked to take a medical or answer any health questions.
Guaranteed Lump Sum: You choose the amount you want to be covered for upfront and that’s it. Done!
Hassle Free Life Insurance: Just choose your cover, fill in your details online and your plan starts – easy.
Guaranteed Monthly Payment: Your monthly payment will never increase.
Free cover after 90: After you turn 90 your cover will remain in place but you won’t pay another cent in premium
NurseAssist 24/7: Free confidential service, where you can call a team of trained nurses to help you with your health questions at all times.
Important notes to know
If you die within the first 2 years of the plan, your family will get back what you have paid in only, unless you die in an accident whereby the cover you’ve selected will be paid.
If you stop your monthly payments, you will not continue to be covered.
If you cancel your plan at some stage (outside of your cooling off period of 30 days) your monthly payments will not be repaid.
Your monthly payment and your level of cover are fixed from the start and don’t change to match inflation.
Your plan starts once your application form is complete.
Your 30 day cooling off period (whereby you can change your mind and cancel your plan) will begin once you have applied online or when you receive your policy document, whichever is later.
Over 50s Life Insurance plan is provided by Irish Life Assurance plc.
Irish Life Assurance plc is regulated by the Central Bank of Ireland.