Over Fifties Life Plan

Over 50s life cover is a type of life insurance for you, if you’re aged over 50. With our Over Fifties Life Plan, you know you’ll receive the financial support to leave a small legacy for your loved ones, to help cover funeral costs or to pay off any debts. With premiums starting from £5 a month, it’s an affordable way to get the cover if you’re on a budget.

Why choose AIG

  • Guaranteed acceptance: We make getting insured simple - and guaranteed. If you’re aged between 50 and 85*, you’ll be accepted. There's no need to answer lengthy medical questions on the application, and you’ll be signed up within minutes.
  • Accidental and early death cover: Nobody wants to think about needing to claim so soon, but if you were to die in an accident in the first two years of your cover, we’ll pay three times your lump sum. If you were to pass away from any other cause in the same timeframe, we’ll refund your premium payments and pay an extra 50% on top. If you die after 2 years, we’ll pay your full cover amount.
  • Protected benefit: We know that managing your budget and staying on top of your payments can be complicated, time consuming and something you can easily put off (especially if you’re leading a busy life). This is why we help protect your pay out through our Protected Benefit cover. This will ensure your loved ones receive a pro-rata pay out as long as you have paid half of the premiums due between starting your plan and your 90th birthday.
  • Increasing option: To help protect you against the effects of inflation over time, you can select an increasing option. The amount you’re covered for will rise each year in line with the Retail Prices Index (RPI), up to a maximum of 10%. Your monthly payments will also go up to pay for the increased cover amount.

*Maximum age for smokers is 81. Must live in the UK, Channel Islands, Isle of Man or Gibraltar.

Writing your policy into trust

You can work with a financial adviser to write your policy into trust. There are a couple of options to choose from and making this legal arrangement ensures that money paid out goes straight to the people you want to benefit from it. This could mean a death claim is paid quicker in comparison to a policy not in trust and could help you manage IHT. We can’t advise on whether putting any particular plan into a trust would be suitable for your circumstances - we’d recommend getting some professional legal advice. For more information, read our guide to explain how trusts work for insurance policies.


How to buy

There are a number of ways you can get AIG cover for you and your family. To find the right option for you, head to our dedicated How to Buy page.


Get covered

Additional benefits of AIG

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Best Doctors®

With AIG, you’ll get access to Best Doctors for invaluable second medical opinions. Their expertise helps you and your family get the right diagnosis, treatment and care.

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Winston's Wish

We understand that your family may need more than financial security. We work with the leading UK charity Winston’s Wish to help bereaved children get specialist support.

Best Doctors and Winston’s Wish are non-contractual benefits which can be withdrawn at any time without notice.

Literature and support materials

Over Fifties - Key Facts

This document describes what is covered by the Over Fifties Life plan, who can buy it and how it works

Download Updated 30 Sep 18