What is the Best Life Insurance for Over 60 Years of Age in the UK?

Life insurence

Crossed the age of 60 and feeling the need for a life insurance policy considering the future protection of your family members?

Well! You have felt it right. With the ageing of an individual, getting entitled to the best life insurance for those over 60 becomes necessary.

None of us know our future. Tomorrow we may suddenly succumb to any illness or may become financially unstable. If it happens, our family members are the individuals who will suffer the most.

Why let your family members suffer for a small fault of yours by not registering for a life insurance policy in time?

Purchasing a life insurance policy always ensures that all of your defendants are financially safe and secure. 

​​​​​That’s why the over 60 life insurance UK were made. 

How To Understand Which Life Insurance You Will Need? 

Your choice of a life insurance policy must be specifically based on your need. Think, for what purpose you would like to go for the life insurance policy. Identify, which of these factors is compelling you to purchase the policy for your dependents and buy your policy accordingly –

Before choosing a policy you need to ascertain whether you possess the capability to pay the policy’s premium.  Also, ensure that the policy will cover all of your needs that you expect from it.  

Is The Best Life Insurance For Over 60 The Same As That For Those Over 50s?

The over-60 life insurance UK and the policy for those over 50 are nearly the same. Only keep in mind that the Over 50 life insurance is whole-life insurance and not a fixed term insurance.

So, the policy will give you great compensation for your death but not without a huge amount of premium during your living. So, if you can’t bear to pay such a high amount of premium, we have more for you to explore. 

​​​​​We will also present before you the policies that will not demand any medical from you, though the death compensation amount for such policies is less than the other fixed-term policies.

These policies only help to fund the money required for the dead person’s funeral, repaying his debts or transferring to the next generation as a token of gift from him. 

Why Choose The Best Life Insurance For Over 60s?

People usually choose over 60s life insurance to give financial security to their family during their future absence from the house, make up for the income they used to make when they were alive, and get a supportive amount for the payment of various loans including mortgage expenses and the over-budget bills of credit card.

Besides, the best life insurance for over 60 plans comes with the advantage of lifetime coverage at a fixed premium paid over a particular period.

The policy will tell you accurately, how much money your family members will receive after your death.

With the best life insurance for over 60s, you will get to live life with peace of mind and can die peacefully, without any tension for the future of your family members. 

The Four Best 60+ Life Insurances About Which You Need To Know:

1. Term Life Insurance:

It’s one of the over-60 life insurance UK whose period is flexible for the aged insurance holders. You can set the premium term for ten years, fifteen years, twenty years, etc.

Also, this insurance is budget-friendly for almost all senior citizens in the UK. Fix the term of the policy according to your financial capability and you’re good to go.

However, you must also be aware of the terms and conditions of the policies in detail before signing for it.

Once the period of this policy ends and you have some money in hand to renew it again, the charge of the renewal yearly premium may be more than what it was before.

Also, the policy gives you coverage up to the period you’re giving premium and not more than that. 

2. Whole Life Insurance: 

This is the lifelong coverage of life insurance and will give your family the coverage no matter whether or at whichever point of life you die.

The benefit of this insurance policy is that there will be a cash value component for you in it, that will keep on becoming more and more with every passing year.

However, for signing this policy, you need to ensure that you would be able to pay its premium. This is because the premium of whole life insurance, in comparison to other life insurance policies, is too high.

So, go for this policy only if you can afford to pay for it. This policy supports potential cash accumulation. 

3. Guaranteed Over Fifties Plans: 

The citizens of the UK who have crossed their 50s or 60s can access this plan without any doubt. The best part of this policy is that you don’t have to present any medical underwriting to have it.

No matter how old you are or what’s your medical condition, once you become 50 plus and apply for it, the policy will keep you covered.

Another advantage of signing your name in this policy is that your premium will not increase with time. It will remain fixed. However, you’ve to be happy with the low coverage amount you get with this policy.

So, if you are an old person who is already suffering from some health issues and needs life insurance for your family members’ security without presenting any medicals, you’ve only got this option for registering yourself in the realm of life insurance policies. 

4. Critical Illness Cover Life Insurance Policy (Add-On):

This is one of the best life insurance for over 60s that will give you coverage with a huge amount of money whenever you develop any critical illness and get it verified by medical tests.

Whether the term for this policy will be fixed or you will pay the premium throughout your entire life, totally depends on your choice.

However, if you choose to give premium throughout your life, it’s worth doing it because the policy is gonna cover all of your medical expenses once you get seriously ill.

So, with this policy, you or your family members will never feel financially unstable, even after your death.

However, before signing for this policy, the to-be policyholder must inquire everything from the relevant insurance offices regarding all the details of the policy and must go through the list of serious illnesses that this policy will cover for him.

He must also learn about the constraints of this policy if anything like that exists. 

​​​How To Decide Which Life Insurance Is Best For You?

For making your final decision regarding the best life insurance for over 60 policies that you will go for, place the quotes of different life insurance companies side by side and compare them with one another.

See what’s the difference in their premium costs and how much coverage will they give.

If you still feel doubt and can’t figure out, which policy is the best for you, take the help of an unbiased financial advisor.

He will tell you which policy suits you best according to your premium-paying capability and your expected coverage amount. 

In general, the policies that are flexible regarding the premium amount/time and the coverage amount are the most ideal ones.

Never forget to verify the reliability and financial stability of the insurance company before choosing its policy.

You can verify the same by making a personal visit to its offices and checking customer reviews and ratings of the company. 

Will The Best Life Insurance For Over 60 Policy Consider Your Health Issues Or Demand Medicals? 

In general, while enrolling your name in a life insurance policy, the policy provider company needs your medical underwriting without any compromise.

It’s true for nearly all medical policies and providers. However, some policies have exemptions regarding the presentation of Medicals and they are the Over 50s life insurance policies of different companies.

To acquire this policy, you don’t need to go through any health checkups or medical examinations.

However, even though this policy doesn’t claim any medical report from you, the provider of this policy expects you to provide all of your authentic health-related information to them.

It will ensure that your policy doesn’t lapse in time.

The policy must remain valid throughout the period for which you have purchased it.

Be aware that if you don’t give authentic details to the policy providers, the health issues that you have been carrying for so long will create a negative impact on your premium and coverage plans. 


1. What type of life insurance is best for seniors?

A whole life insurance policy, also known as a universal life insurance policy, is the best policy for seniors who are concerned about their family members after their death.

The policy will give the family heirs a lumpsome amount of money, which is much more than any other life insurance policy.

Though the policy gives massive coverage and is a permanent one, the premium that you have to pay for the policy is also a large amount. 

2. Is life insurance worth it after 60?

It all depends on the preference and financial stability of a person. Usually, people above 60 years of age get a large amount of money during their retirement, with which they pay for their pending bills and loans.

Also, it is expected that they will secure the rest amount of money wisely for future use. Besides, the sons or daughters of most of the senior citizens get placement in different job positions by the time they retire from their jobs.

So, it is expected that the financial situation of a person above 60 will remain stable and he/she will not need any life insurance for his/her family members.

However, it is not always the same for all persons. So, those aged persons who are not financially stable and are not able to secure the future of their family members must choose to get an affordable life insurance policy for them. 

3. What is the oldest age to get life insurance? 

Most Life insurance providers provide life insurance to customers with ages up to 69 years. Those who have touched the milestone of 70 or 80 years might find it difficult to enrol their name in a Life Insurance policy. For them, a guaranteed life insurance policy might be the only way out. 


We hope you might have already understood that getting the best life insurance for over 60s policy becomes vital in old age to keep your family members on the safe side. And, choosing the right policy for you is not so easy.

Go for a policy only after checking its overall pros and cons, educate yourself about various policies and their no-pay zones, and don’t forget to take the advice of a reliable financial advisor before stepping on the final step (that is signing the final documents for holding the policy).

Whichever policy you choose, it must satisfy your necessities and the necessities of your family members. Only then, you can spend the rest of your life in a tension-free and peaceful manner. 

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