What you need to know about Over 50s Life Insurance

Over 50s Life Insurance is provided by Legal & General.

Planning for what will happen after your death can help your loved ones get through hard times. However, knowing all you can about Over 50s Life Insurance can help you feel better when deciding whether or not to take out a policy.

Before you apply, we want to make sure that you understand how the policy works and what will happen in the event of your death. This way you can be sure you made the right decision for you and your family.

Information can be found in our Policy Summary or the more detailed Policy Terms and Conditions. These are important documents which you should read before applying.

How it works

If you complete an application online, you’ll be automatically accepted. We’ll send you the Policy Schedule and Policy Terms and Conditions shortly after.

You’ll receive the cancellation notice within 7 to 10 working days. This means you’ll get 30 days to change your mind about starting your policy. If you cancel within 30 days, any premiums you may have paid will be refunded.

You should think about telling your intended beneficiaries that this policy has been purchased, in case a claim needs to be made.

Things you need to know:

  • A claim can be made after one year, regardless of the cause of death. If you die from natural causes within the first year we will refund any premiums paid, unless you die as the result of an accident, when we will pay your cash sum.
  • Depending on how long you live, total premiums paid may be greater than the cash sum payable on death.
  • After your 90th birthday you will stop paying premiums but your cover will continue.
  • If you stop paying premiums before the end of your policy, your cover will end 30 days after your missed premium and you won’t get anything back.
  • This is not a savings or investment product and has no cash value until a valid claim is made.
  • Inflation will reduce the buying power of your cash sum in the future.

Keep in mind

This section gives you information about our life insurance services provided by Churchill. You should read this and keep a copy of it in a safe place for future reference.