Cost of delay

AA Over 50s Life Insurance premiums usually become more expensive the older you are. It makes sense to take out a plan now to avoid paying higher monthly premiums in future, for the same cash sum.

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

Premiums start from £5 a month depending on your age, but whatever premium you choose to pay the policy will always cover you for at least £1,000 if you die after the first year. Your quote will be based on your individual needs and circumstances.

You are eligible to apply if you're aged between 50 and 80 and are a UK resident.

The table below shows how premiums go up as you get older:

Rates correct as at 4 April 2016
Premium £10 £15 £20 £30 £50 £75
Cash sum available to a 65 year old £1,787 £2,779 £3,776 £5,812 £9,963 £15,152
Cash sum available to a 70 year old £1,343 £2,089 £2,838 £4,368 £7,488 £11,388


When you apply you will receive an M&S giftcard, up to £75, after 4 months.*

Get a quick quote today to see how much it could cost.

Things you need to know

Fixed and increasing plans

  • 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.


Increasing plan only

  • With the increasing plan your cash sum is reviewed each year in line with the change in the Retail Prices Index (RPI). Premiums will also be reviewed each year and will increase by the change in RPI multiplied by 1.5.
  • If you're worried you won't be able to afford the increases in premium, you can decline the increase following your annual review. If you do this the cash sum will remain at the same value from that point, and inflation will reduce its value in the future. You won't be able to increase your cash sum or premium in future years.


Fixed plan only

  • Inflation will reduce the buying power of your cash sum in the future.
  • Flexibility to reduce your premiums if you've had your plan for a year and your circumstances have changed. Minimum premium applies.
  • If you choose to reduce your premiums, your cash sum will also be reduced.


* M&S giftcard terms and conditions.