Best Over 50 Life Insurance Free Gifts versus Broker Deals > (2025)

.Best over 50 Life Insurance with Free Gift.

---

Really…Over 50 Life Insurance Free Gifts?

Best Over 50 Life Insurance with Free Gift ….What’s my options?

---

7 Reasons ‘Not To Buy’ Over 50 Life Insurance Free Gift

1. No medical Over 50’s Life Insurance plans don’t fully insure first 1/2 years on natural death
2. Against underwritten whole lifecover – Over 50’s lifecover maybe £1,000’s more expensive
3. Underwritten whole life assurance covers you asap once full medical terms agreed
4. If you are a fit & healthy Over 50’s – it may not be the best deal if you have no medical issues
5. Most Over 50 Life Insurance Providers – only use 1 Insurers plan & often with limited flexibility
6. You could pay more premiums than lifecover – after less than 12 years on some Over 50 plans
7. Over 50 Life Cover or Plan Costs may have a cap limit & so maybe inadequate for your needs

“Free Gift” This maybe a costly Life Insurance Deal ?

7 Reasons to Buy ‘Over 50s Life Insurance with Free Gift’

1. You have poor medical health issues or would be unable to get affordable underwritten lifecover
2. Want a guaranteed acceptance plan ‘No Medical Life Insurance’ & No indepth health questions
3. Accidental Death paid at initial 1/2 years waiting period or premiums back before full death claim
4. Like Funeral Funding Provider options & paid direct eg; £300 to COOP Funerals
5. Prefer not to pay life insurance premiums after ages 90/95 & yet still maintain policy lifecover
6. You don’t want to shop around or talk to a Professional Financial Adviser about your best options
7. Want to claim your Free Gift & don’t mind waiting at least 6 months after fully paid up premiums

CONCLUSION: Don’t base your Family Legacy on any advertised ‘Free Gift’

• Our Trial Quote: £10,000 Whole Lifecover fixed & guaranteed premiums [all quoted 21/1/20]*
• We Independently Tested comparison online quotes: Female aged 70, Generally Fit & Healthy, Non smoker
• This whole of life broker deal was compared against 10 x ‘best over 50s life insurance with free gift card’ no medical offers

• We firstly quoted our 5 cheapest Broker Fixed Cost Deals & paid until claim
• £34pm Zurich | £35pm Aegon | £38pm AIG | £40pm Royal London |£44pm Legal & General
• So our cheapest underwritten £10,000 whole lifecover broker deal quote = £34pm via Zurich

Compared 10 Deals Best Over 50 Life Insurance Free Gift 2020’s

v Example Broker Whole of Life Cover

---

Broker Zurich Deal: £10,000 whole life underwritten then covered. £34pm paid to claim.

1. British Seniors £66pm max: 1 year wait. £9,000 max. £13,440 more expensive upto age 95 when premiums end. £75 M&S Gift card
2. Post Office £73pm max: 1 year wait. £9,956 max £9090 more expensive upto age 90 when premiums end. £100 M&S Gift card
3. SunLife £70pm max: 1 year wait. £10,332 max £8,640 more expensive upto age 90 when premiums end. £100 M&S Gift card
4. Aviva £65pm 1 year wait. £10,332 max £7,440 more expensive lifetime upto age 90 when premiums end. £50 M&S card
5. Royal London £65pm max 1 year wait. £9,975 max: £7,440 more expensive lifetime upto age 90 when premiums end. £100 Argos card
6. Legal & General £65pm max 1 year wait. £9,686 max: £7,440 more expensive lifetime upto age 90 when premiums end. £100 M&S card
7. Sainsburys £65pm max 1 year wait. £9,686 max: £7,440 more expensive lifetime upto age 90 when premiums end. £90 Nectar card
8. NatWest £50pm max 1 year wait. £7405 max: £3,840 more expensive lifetime upto age 90 when premiums end. £75 M&S, Argos card
9. Churchill £50pm max 2 year wait. £7484 max: £3,840 more expensive lifetime upto age 90 when premiums end. £100 Gift card etc;
10. Direct Line £50pm max 2 year wait. £7484 max: £3,840 more expensive lifetime upto age 90 when premiums end. £100 Gift card etc;

^{*Martin Lewis says never blindly buy Life Insurance direct from Bank or Insurer …as this can be the most expensive way}

_{All life insurance for over 50 with free gifts deal listed in no particular order – due to different lifecovers, premiums, wait periods or lifecover free gifts etc}. _{Example Broker & Over 50 T&C’s may all vary online again on a regular basis in the future. Maybe Providers also no longer offer freebie deals}

_{Test quote example 21/1/20 not classed as advice. The Over 50’s Provider’s may also change their Insurers Plan Providers used in the future. As Brokers we do not offer advice on these buy direct Over 50 life insurance with free gifts offers* Assumes standard rates after application underwriting for £10,000: Female aged 70, Fit & Healthy, Non smoker}

Over 50’s | 3 Life Insurance Types

Over 50 Life Insurance – No Medical

No Medical | General Key Features

• 1 or 2 years exclusion period before any natural causes death claims
• There are usually no in depth medical & lifestyle questions to qualify
• Refund of premiums only if you die of natural causes during this exclusion period
• Smoking or vaper status asked & affects life insurance for over 50 smoker
• Accidental death claims only during this initial exclusion period
• Insurers may stop taking premiums from age 90/95 but maintain your lifecover
• Policy is rest of life or whole of life meaning indefinate cover

No Medical | General Key Features

• Age at entry usually Over 50 upto 85 dependant on Insurers
• Many available on a single life basis only
• Compared and bought sometimes just for their free gifts
• Can often pay in more to the policy than the life cover amount paid
• Providers may limit premiums per plan or a total amount of Lifecover per person
• Fixed premiums usually with no investment cash in values
• Lower life insurance levels generally offered versus other Over 50’s plans
• Many use Over 50’s plans toward Funeral funding than family life cover or prepay funeral plan
• Funeral benefit option may top up £250|£300 for Funeral directors eg; Dignity or COOP

CONCLUSION: Best Life Insurance for Over Fifty | If generally in Poor Health

Over 50 Whole Life Assurance – Medical evidence

General Key Features

• Policy is underwritten insurance so Insurers do ask medical & lifestyle questions before offering cover
• Whole life assurance means you covered even if you live until 150
• Terminal Illness is often included for free on whole life assurance plans
• It means you sadly have less than 12 months to live, so pays out earlier ‘death claim’ in advance
• Could involve GP reports and medical tests before agreeing underwriting terms
• Deals usually available for those who have no real serious health or lifestyle issues
• Age at entry available below 50 then up to 89 dependant on Insurers
• If you do have some medical issues eg; high blood pressure or cholesterol Insurers may still offer cover
• Immediate cover with no initial exclusion period before a whole of life insurance claim
• Suicide exclusion clauses may initially apply
• Own life, dual life or joint life policies upon death or terminal illness
• Plan options for fixed or reviewable premiums and must be paid for rest of life ie; until a claim

CONCLUSION: Best Life Insurance for Over Fifty | If fit & healthy

Over 50 Term Life Insurance – Medical evidence

Key Features

• Term Over Fifty’s Life Insurance is ‘underwritten’ cover but only for a fixed period ie; max available upto age 90
• Unlike whole life insurance you may live out that term period leaving no lifecover after
• Terminal Illness is also included for free on over 50 term life insurance plans
• Suicide exclusion clauses apply
• Premiums usually fixed and have to be paid for life of the policy term with no cash value
• May have much more affordable costs than whole life assurance as plan runs a defined term
• Age at entry available below 50 then up to 90 dependant on Insurers
• Once underwritten, this lifecover has no initial exclusion period before claim
• Plans can be level, decreasing, increasing
• Lump Sums or Family Income Benefits options upon death insurance or terminal illness
• Options of own life or joint life policies
• Life Insurance upto age 90 as a ‘bills back up plan’ instead

CONCLUSION: Best Life Insurance for Over Fifty | No cover need after age 90

Best ‘Life Insurance for over 50 with Free Gifts’?

• Medically underwritten over 50 life cover may usually offer much better value
• Whole lifecover will payout whenever & Term Lifecover upto age 90 if not
• No medical lifecover plans are often only useful if you have serious health issues
• Like all Insurance, if you start to miss any premiums your cover may lapse
• Rising Funeral costs inflation may effect level life cover plan payouts
• Check if the life policy can be put into trust to help avoid probate delays & Inheritance Tax IHT
• Gender Neutral rates on life insurance for male over 50 or female
• Often similar Over 50’s lifecover seen advertised on TV and endorsed by personalities
• Don’t be persuaded to buy a plan just because you get a free pen or gift voucher

Conclusion Over 50s Life Insurance with Free Gift

Should you have no pre-existing health lifestyle issues, then for many people underwritten whole of life assurance is a better option. In a general comparison, they could offer much higher levels of cover for similar costs.

If however you are only comparing no medical over 50s life insurance with free gift deals, because you do have various poor health lifestyle risks, then for some people that’s fine.

Note; Martin Lewis is also not a big fan of these ‘life insurance for over 50 with free gifts’ no medical style schemes, as they could also work out a lot more expensive than any free gift.

If you are unsure what maybe best Over 50’s option for you, please speak to our brokers.

Article on ‘Best over 50 Life Insurance with Free Gift’ by Martyn Spencer Financial Adviser (2025)

For reassurance re health for men & women – we review many of the best Life Insurers selling over 50 Life Insurance in UK (inc NI)