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Over 50s

Fixed and Increasing Plans

Premiums start from £5 a month, depending on your age

Competitive cover for the over 50's

  • Usps white tick
    Guaranteed acceptance
    Guaranteed acceptance with no medical or health assessment, as long as you are between 50 and 80 and a UK resident.
  • Usps white tick
    What we offer
    We offer some of the highest levels of cover available in the over 50s life insurance market.
  • Usps white tick
    M&S giftcard
    As a thank you for taking out the Over 50s Life Insurance plan we'll give you a £50 M&S Giftcard (£75 for AA members)*

Over 50s Fixed and Increasing Plans

Fixed Plan

On a tight budget? Know what you’re paying – our fixed premiums mean that your monthly payments always stay the same.

What you get:
  • Choose the premium you want to pay based on how much you can afford.
  • Premiums start from £5 a month, depending on your age.
  • Guaranteed acceptance with no medical or health assessment, as long as you are between 50 and 80 and a UK resident.
  • A minimum cash sum payment of £1,000 should you die after one year.
  • Flexibility to reduce your premiums if you've had your plan for a year and your circumstances have changed. Minimum premium applies.
  • This is not a savings or investment product, and has no cash value unless a valid claim is made.
  • In the first year, if you die from natural causes we will refund any premiums. If you die as the result of an accident, we will pay your cash sum
  • Depending on how long you live, you may pay more in premiums than your cash sum
  • If you stop paying premiums, you will lose your cover and will get nothing back
  • Your cash sum is fixed at outset and inflation will reduce its buying power over time.
AA members get quote Non AA members get quote

Increasing Plan

Designed to help protect your cash sum against inflation. Please bear in mind that with the Increasing Plan your premium will go up.

What you get:
  • Choose the initial premium you want to pay based on your circumstances and the cash sum you want the policy to pay out.
  • Premiums that start from £5 a month, depending on your age.
  • Guaranteed acceptance with no medical or health assessment, as long as you are between 50 and 80 and a UK resident.
  • A minimum cash sum payment of £1,000 should you die after one year.
  • Your cash lump sum is reviewed each year in line with the change in the Retails Price Index (RPI)
  • This is not a savings or investment product, and has no cash value unless a valid claim is made.
  • In the first year, if you die from natural causes we will refund your premiums. If you die as the result of an accident, we will pay your cash sum
  • Depending on how long you live, you may pay more in premiums than your cash sum
  • If you stop paying premiums, you will lose your cover and will get nothing back
AA members get quote Non AA members get quote
Important information
What do the Fixed and the Increasing plans have in common?
  • A claim can be made after one year, regardless of the cause of death. If it's from natural causes within the first year, we will refund any premiums paid. But if it's the result of an accident, we will pay your cash sum
  • Depending on how long you live, total premiums paid may be greater than the cash sum payable
  • After your 90th birthday, you'll 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 receive anything back
  • Life Insurance is not a savings or investment product and has no cash value until a valid claim is made
Fixed plan-only features
  • Inflation will reduce the buying power of your cash sum in the future
  • You have the flexibility to reduce your premiums if you've had your plan for a year and your circumstances change (minimum premium applies)
  • If you choose to reduce your premiums, your cash sum will also be reduced
Increasing plan-only features
  • With the increasing plan, your cash sum is reviewed each year in line with the change in the Retail Prices Index (RPI)
  • Your premium will also increase by 1.5 times the change in RPI
  • If you can't afford the increase, just let Legal & General know and they will fix your premium and cash sum so they remain the same for the rest of your plan. If you decide to do this you will not be able to restart the increases in future and inflation will reduce the buying power of your cash sum.
What is the Retail Prices Index?

The Retail Prices Index (RPI) is used as a measure of inflation. It shows how the cost of living rises each year.

As time passes and the cost of living rises, think about how much more an everyday item like a loaf of bread costs now than it did 10 years ago. This process also impacts the value of the cash sum paid out by insurance policies, meaning that a fixed cash sum will be worth less in the future. The cash sum for the increasing plan is reviewed by the change in the RPI to help keep in line with inflation and to stop its value decreasing.Please read the Policy Summary before you apply.

What if my circumstances change?

If you're worried you won't be able to afford the increases in premium, you can decline the increase following your annual review. Just let Legal & General know, and they'll fix your premium and cash sum so they remain the same for the rest of your plan.

Take note: If you decide to decline the premium increase, you won't be able to restart the increases in future – and inflation will reduce the buying power of your cash sum.

Funeral Benefit Option
We'll contribute towards your funeral expenses, helping reduce stress and worry for your family - both your cash sum and an additional contributions of £300 will be available immediately. And your family will receive compassionate care and support in their time of need. You can let Dignity know of any special requests, such as particular hymns, readings or a piece of music you like, to ensure your personal wishes are respected. Choosing the Funeral Benefit Option means that when the time comes, your cash sum will be paid directly to Dignity who will make an additional £300 contribution towards your funeral. A Dignity Funeral Director must be used to conduct your funeral to receive this benefit.

Why choose Dignity?

At the time of need, it only takes one phone call to Dignity to activate the Funeral Benefit Option. Dignity is a major provider of funeral services in the UK, with a network of 800 experienced funeral directors, many of whom have served local communities for generations:
  • Dignity has helped more from 740,000 people arrange their funeral in advance
  • In 2015, Dignity performed over 70,000 funerals in the UK**
Your family can rely on Dignity to ensure your funeral goes just the way you planned, and they'll be treated with all the care and compassion they deserve.

How the Funeral Benefit Option works

  • If you choose the Funeral Benefit Option, you're choosing to 'charge' the cash sum from your policy to Dignity, you'll receive an extra £300 on top of your cash sum amount ('Charge' is the legal term meaning that the cash sum from your Plan is paid directly to Dignity, rather than to your estate)
  • By choosing this option, you also agree that the funeral provided will be arranged by a Dignity Funeral Director
  • If the cost of the funeral is greater than the cash sum from your plan plus the extra £300 funeral benefit, your estate or next of kin will need to pay the difference
  • If the cost of the funeral is lower than the cash sum plus the extra £300 funeral benefit, the remainder will be paid to your estate by Legal & General and may be subject to Inheritance Tax
  • If you decide that you no longer want your plan 'charged' to Dignity, you can choose to remove the 'charge' by contacting Dignity at any time provided that it is before Dignity have been instructed to perform the funeral.
  • If you remove the 'charge', the £300 additional contribution no longer applies. If the 'charge' is removed and a payment is made to your estate, this could be subject to Inheritance Tax

Dignity will send you a welcome pack within 28 days of your application, with all the information that you or your family will need. This includes contact details, and instructions for your loved ones and executors at the time. If you wish, you can notify Dignity of any special requests.

 **Dignity plc Annual Report and Accounts 2016

Policy documents
The following are important documents which you should read before applying.

AA Over 50s Life Insurance Plan policy summary

AA Over 50s Life Insurance Plan policy terms and conditions

To view these PDF files you'll need Adobe Acrobat
Frequently asked questions
What happens after I apply?

You will receive a letter containing details of your plan, a policy schedule and the policy terms and conditions.
You will also receive a cancellation notice – this gives you 30 days to cancel your plan if you change your mind. If you cancel within 30 days, any premiums paid will be refunded. You can cancel after this period by writing to us but you will not receive a refund.

Will my premiums ever go up?

If you choose the fixed plan, your premiums will stay the same. Choose the increasing plan and your cash sumwill be reviewed each year, along with your cash sum, and will increase to help protect against inflation

Find out more about our increasing plan.

When will I receive my gift?

As long as you continue to make your payments, you should receive your gift four months after your policy starts. Read our gift card terms and conditions for more information.

How long does the cover last?

As long as you keep paying your premiums the cover will last for the rest of your life. When you reach 90 your premiums stop but your cover will still continue.

Can I cash in my plan?

No, the plans are not savings or investment products and have no cash value until a valid claim is made.

Who can apply?

If you are a UK resident (who resides in the UK for at least 183 days a year) and aged between 50 and 80.

Our over 50's Life insurance plan requires no medical or health assessment, so you are guaranteed to be accepted.

Can my partner take out cover too?

Yes, your partner can also take out an insurance plan – just call us, or apply online. The insurance plans only cover one person, so you will be covered by two separate plans with two premiums.

Can I have more than one policy?

You can have as many policies as you want, as long as the total cash sum for all your Over 50's Life Insurance plans is no more than £25,000. This includes any Over 50s plans you already have with Legal & General.

What information do you need from me?

Decide how much you want the plan to pay out, based on your own circumstances and the premium you choose to pay.

Our Over 50s Life Insurance provided by Legal and General requires no medical or health assessment, so we just need your name, contact details, date of birth and smoker status (the latter will not affect your monthly premium or your cash sum).

At the end of the application process we'll ask you for your bank account number and sort code to set up a direct debit. If you don't have these, you can get them by contacting your bank or referring to a recent bank statement.

What happens to the money when the policy pays out?

The cash sum will be paid to your estate, unless you place your policy into trust or select the Funeral Benefit Option.

How can my family make a claim?

If your family needs to make a claim they can contact Legal & General using the contact details below:

0800 137 101 (Lines are open 9:00am to 5:30pm Monday to Friday.) 

Calling from abroad? The number is 0044 1273 374 665

Write to: Claims Department Legal & General Assurance Society Limited City Park The Droveway Hove East Sussex BN3 7PY

Or email: life.claims@landg.com 

 

Legal & General require the following documentation:

  • a death certificate
  • date of death and contact details
  • the original policy document
If you are missing any of these documents, Legal & General staff will be able to discuss the additional procedure for making a claim with your representatives.

If further information is needed to help process a claim, the claims staff will contact your representatives.

Which premium should I choose?

Choose cover that you can afford and gives you a cash sum that meets your needs. Remember the higher the premium, (up to a maximum of £75 per month) the higher your cash sum.

Think about how much you would like your family to receive in the event of your passing. You can take out more than one plan as long as the total cash sum value for all your plans is no more than £25,000.

If I choose the increasing plan and can't afford the premium increase, what can I do?
Just give Legal & General a call, they can stop the increases so that the premium and cash sum remain the same for the rest of your plan.

Be aware if you do this the decision is final and the plan will remain fixed. You will not be able to restart the increases in future.

Read more information about the increasing plan.
M&S giftcard terms & conditions

When you take out a new Over 50's Life Insurance policy, Legal & General will send you a M&S giftcard as a thank you.

Please read the following terms and conditions before you apply.

Terms and conditions:
  • Legal & General will aim to send the giftcard 4 months after your policy starts. Please allow time for delivery.
  • This offer is only valid when applying directly via the AA.
  • Customers paying monthly premiums will not be eligible for a giftcard if a monthly payment is missed during this time.
  • If you've previously cancelled a Life Insurance policy provided by Legal & General, you won't qualify for this offer.
  • The incentive provider could be changed but the monetary value will not change.
  • Legal & General will cancel any policies or giftcards if they discover or have a reasonable suspicion that the terms of the offer are being abused.
  • One giftcard per policy sold, limited to 2 per household in a 12-month period.
  • No cash alternative will be offered.
  • The giftcard is only available with this offer, and will not be available if the product is bought with any other offers or gifts.
  • All terms and conditions also apply to partners or friends applying.
  • Legal & General staff are not eligible for this offer.
This should be sent within 4 months of your policy start date, to AA Life Insurance, Financial Services, Fanum House, Basing View, Basingstoke, RG21 4EA, quoting your policy number. Eligible claimants will be sent £25 M&S vouchers after 90 days of receipt.

^ An AA member is defined as a holder of a current, valid UK Breakdown Assistance policy purchased directly through the AA.

Automobile Association Insurance Services Limited acts solely as introducer for Legal & General's AA Over 50s Life Insurance. AA Over 50s Life Insurance and any services related to it are provided by Legal & General. Legal & General Assurance Society Limited is registered in England and Wales No. 166055. Registered office: One Coleman Street, London EC2R 5AA. Legal & General Assurance Society Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under number 117659. You can check the FCA register or call the FCA on 0800 111 6768. Legal & General will introduce customers who select the Funeral Benefit Option to Dignity Funeral Services, who are members of the National Association of Funeral Directors.

Automobile Association Insurance Services Limited is registered in England and Wales No 2414212. Registered office: Fanum House, Basing View, Basingstoke, Hampshire RG21 4EA. Automobile Association Insurance Services Limited is authorised and regulated by the Financial Conduct Authority (FCA) under number 310562.
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