Life Insurance Over 60 And Over 70

Your Options At This Age

There are three main types of cover to consider later in life. This chart shows roughly how late you can start each one.

This table sums up how the three types compare.

Sources: MoneyHelper guidance and Surely analysis of published UK plan terms, 2025 to 2026.23

• Standard term life. Pays out if you die within a set number of years. You can usually start one up to about age 75, and it must end by about 85 to 90. It is medically underwritten, so it gives good value if you are healthy and have a clear end date in mind, such as a remaining mortgage.
• Whole of life. Never ends and always pays out. You can usually start one up to about age 80. It is medically underwritten, so a healthy applicant can secure a large sum for the money. It is often the best value for leaving a legacy or covering an inheritance tax bill.
• Over 50s plan. Guaranteed acceptance with no medical questions, for ages 50 to 85. It pays a fixed, modest sum, usually up to about £25,000, whenever you die. It is best when health makes other cover hard to get, or for a simple funeral fund.

Life Insurance Over 60

In your sixties you still have all three options open. People at this age often want cover to clear a remaining mortgage, leave an inheritance, help with an inheritance tax bill, or pay for a funeral.

If you are in reasonable health, underwritten term or whole of life usually gives far more cover per pound than a guaranteed acceptance plan, because the insurer can price for your actual health. You will need to answer health questions, and sometimes the insurer asks your GP for a report. Prices are higher than at younger ages, but cover is still affordable for most people.

Life Insurance Over 70

In your seventies the choice narrows. Standard term cover becomes limited, because insurers offer only short terms and the policy must usually end by about 85 to 90. A 75 year old might only be offered a 10 year term, which is often dearer than whole of life for the same cover.

So most people over 70 choose between two options. An underwritten whole of life policy gives much more cover for your money if you are in reasonable health. A guaranteed acceptance over 50s plan gives certainty and needs no medical, but pays only a modest, capped sum. The usual aims are a funeral, a legacy, or an inheritance tax bill.

What It Costs

Cost rises steeply with age, because a claim becomes more likely the older you are. The chart below shows how the price of whole of life cover climbs through your sixties and seventies.

With an over 50s plan, you choose a monthly premium, often from about £5 up to £100, and that sets a modest fixed payout. The older you are when you start, the less cover that premium buys. Prices for the same plan can differ by around 20% to 30% between providers, so it is well worth comparing.3

To show how much that matters, here is roughly what the same £20 a month buys at different ages.

Illustrative only, non smoker. The payout for a set premium falls the older you are when you start. Surely analysis of published 2026 over 50s rates.3

Things To Know

Cover later in life is straightforward, but a few points are worth weighing up honestly.

• Guaranteed plans have a waiting period. For roughly the first 1 to 2 years, a death from natural causes usually pays back your premiums rather than the full sum. Accidental death is normally covered from the start.
• Payouts on over 50s plans are modest. They are usually capped at around £25,000, which suits a funeral or small gift rather than a large legacy.
• You can pay in more than you get back. Whole of life and over 50s plans pay out whenever you die, so living a long time can mean total premiums add up to more than the sum. Some plans stop taking premiums at a set age.
• Underwritten cover asks about your health. Term and whole of life involve health questions and sometimes a GP report. A guaranteed acceptance plan skips all of that.

Which Cover Is Right For You

• In reasonable health. An underwritten policy, term or whole of life, usually gives far more cover for your money, often several times as much.
• Health makes cover hard, or you want certainty. A guaranteed acceptance over 50s plan removes the worry, with no medical questions.
• You only need a small funeral fund. An over 50s plan is simple and does the job.
• You want to leave a large legacy or cover inheritance tax. Underwritten whole of life, written in trust, is usually the best fit.

Over 50s Plan Or A Funeral Plan

These two sound alike but do different jobs, and people often mix them up.

An over 50s plan is life insurance. You pay a monthly premium and it pays your family a cash sum when you die. They can use that money for anything, including a funeral, bills or a gift.

A prepaid funeral plan is not insurance. You pay a funeral director, in one go or by instalments, to arrange and pay for a set funeral at today’s prices. That fixes the cost and takes the job off your family, but the money is tied to that funeral. Prepaid funeral plans are now regulated by the Financial Conduct Authority.

So the choice comes down to this. If you want flexible cash your family can use as they see fit, an over 50s plan fits. If you want the funeral itself arranged and paid for in advance, a funeral plan fits. Some people use both.

Writing It In Trust

Whatever you choose, writing the policy in trust is usually a good idea. It sends the payout straight to your family, outside your estate, so it avoids probate delays and usually inheritance tax, which is charged at 40% on anything above £325,000, a threshold frozen until April 2031.4 It is a simple step and usually free to set up.

This matters more than it used to. As property values rise against a frozen threshold, more ordinary estates are drawn into inheritance tax, and from April 2027 unused pension pots count towards it too.4 A policy written in trust can give your family a cash sum to settle the bill without selling the family home.

Why Use Surely

Later in life the choices matter more, and the wrong one can mean paying far too much for too little cover. Surely helps you see clearly.

We explain term, whole of life and guaranteed acceptance plans in plain English, set out the trade offs honestly, and compare cover from selected UK insurers, including underwritten cover where it may give you much more for your money. We compile and cross check real UK pricing and plan terms.

The reassurance is in the numbers. In 2024, UK insurers paid a record £8 billion in protection claims. Around 97% of all protection claims were paid, and the figure for individual life policies is higher still.5 Surely helps you compare cover and get quotes online from a selected panel of UK insurers.

Frequently Asked Questions

Can I get life insurance over 70?

Yes. Your main options are an underwritten whole of life policy and a guaranteed acceptance over 50s plan, and sometimes a short term policy. The right one depends on your health and what the cover is for.

Is there an age limit?

It depends on the type. Term cover can usually be started up to about 75, whole of life up to about 80, and guaranteed acceptance over 50s plans up to 85.

Is life insurance worth it over 60 or 70?

It can be, if you have a clear need for the money, such as a funeral, a gift to family, or an inheritance tax bill. With whole of life and over 50s plans you may pay in more than the payout if you live a long time, so the value lies in the certainty it gives your family rather than in a return on your money.

Do I need a medical?

Not for an over 50s plan, which guarantees acceptance with no health questions. Underwritten term and whole of life do ask about your health, and sometimes request a report from your GP. A medical exam is rarely needed.

Can I get cover with a health condition?

Usually, yes. An over 50s plan accepts you whatever your health, with no questions. Underwritten cover may still be available with a health condition, sometimes at a higher price, so it is worth comparing both.

Can I take out joint cover with my partner?

Underwritten term and whole of life can often be taken jointly, which usually pays out once, on the first or second death depending on the policy. Over 50s plans are normally single, so a couple would take one plan each.

Do smokers pay more?

For underwritten term and whole of life, yes, smokers usually pay more because the risk is higher. A guaranteed acceptance over 50s plan does not ask, so the price is the same whether you smoke or not.

How much does it cost over 70?

More than at younger ages, and it depends on the type, your health and the cover. An over 50s plan can start from about £5 a month for a small sum, while underwritten whole of life can give much more cover if you are reasonably healthy.

What is cover usually for at this age?

Most often a funeral, leaving something behind for family, or helping with an inheritance tax bill.

Is the payout taxed?

It is normally paid tax free. It can count towards inheritance tax, charged at 40% above £325,000, unless the policy is written in trust. Tax treatment depends on your circumstances and can change.4

This guide deals with death and funerals. For impartial money guidance you can use MoneyHelper, the government backed service.

Getting Started

Decide what the money is for and roughly how much you need. If your health is reasonable, compare underwritten cover, which often gives much more for your money. If health is a barrier or you want certainty, look at a guaranteed acceptance plan. Write the cover in trust, and compare a few providers, because prices vary.

Cover, price and eligibility depend on your age, health, smoker status and insurer terms. Whole of life and over 50s plans pay out whenever you die, subject to any waiting period and continued premiums, and total premiums may exceed the payout. Figures on this page are illustrative examples, not quotes.