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Life Insurance Over 60.

If you are over 60, you may be thinking about how to protect your family and loved ones’ finances after you pass away. That’s where The Insurance Surgery can help.

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What is Over 60 Life Insurance?

Life insurance for 60 and over is generally a whole of life insurance cover insurance policy that pays out a lump sum when you die, regardless of when that happens. For some over 60s, a term life insurance policy may be more suitable, guaranteeing that your beneficiaries receive a payout as long as you keep paying your premiums. There are several reasons why people consider life insurance for over 60s, including:

  • Covering mortgage payments
  • To pay out outstanding debts
  • Covering funeral costs
  • To leave a lump sum in their will
  • To maintain their partner’s standard of living
  • To replace lost income

Over 60s life insurance isn’t recommended for everyone, however. If no one depends on you financially, such as your partner, children, grandchildren, or other relatives, it may not be a policy that is necessary for you. Talk to one of our experts for free to get a clearer idea of whether life insurance for 60 and over could benefit your circumstances.

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How Does Over 60s Life Insurance Work?

Don’t feel disheartened if your life insurance applications have been rejected in the past. The Insurance Surgery is a specialist broker that can help people who have trouble due to their health or age – including working out if life insurance for over 60s is right for you.

One of the main benefits of over 60s life insurance is that being accepted is simple. Generally speaking, you don’t need to take a medical exam or answer any health questions. As long as you are a UK resident between 50 and 85, you are eligible for most over 60s life insurance plans. 

Simply get a quote by filling out our form with your age, gender, and how much cover you require! We’ll explain the pros and cons of each policy and answer any questions you may have. You can compare the quotes and choose the policy that works for you. The Insurance Surgery will help you apply and send your application to the insurer.

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How Much Does Life Insurance for Over 60s Cost?

Costs for over 60s life insurance ultimately depend on how large you want your payout to be. You may want your insurance to pay for funeral costs, or you might be relying on it to cover your mortgage payments.

We tend to look at it in three steps:

  • Work out how much money your family would need to live without you. Consider funeral costs, mortgage payments, etc.
  • Consider how much they will receive from other sources, such as savings, pensions, or other insurance plans.
  • Subtract the second amount from the first – giving you an idea of how much they actually need to live comfortably.

If this is too complicated, please talk to us! We’re pretty handy with a calculator, and we will work through your expenses to check that you’ve got a level of cover you are happy with.

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What Types of Life Insurance for Over 60s Are Available?

Our experts can advise on the perfect type of policy to suit your circumstances.

Whole Of Life Insurance.

A whole of life policy covers you for the rest of your life as long as you keep paying your premiums. You don’t have to worry about the policy expiring or renewing.

Term Life Insurance.

A term policy covers you for a fixed period of time, such as 10 or 20 years. If you die within that time, your beneficiaries will receive a payout.

Critical Illness Cover.

Critical illness cover pays out a lump sum if you are diagnosed with a serious illness or disability. This can help you cover the costs of medical treatment, care, or living expenses.

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Critical Illness for Over 60s

It may be to your benefit to add critical illness coverage to your over-60s life insurance policy. Critical illness covers for over 60s can provide financial security if you face a severe health problem.

Critical illness cover pays out a lump sum if you are diagnosed with a serious illness or disability, such as cancer, stroke, heart attack, or Parkinson’s disease. This can help you cover the costs of medical treatment, care, or living expenses if you cannot work or need extra support.

Even if you’ve got a complicated medical history, we’re confident we can still find you a suitable critical illness policy.

Over 60s woman smiling after getting life insurance
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Over 60s man life insurance

How to get over 60s life insurance

If you are over 60 and looking for life insurance, you may have a hard time finding a good and affordable policy that fits your needs. You may pay more, get less, or face more rules than younger people. But this doesn’t mean that you can’t get life insurance. You can still compare different options and find the best deal for your situation with the help of The Insurance Surgery.

The Insurance Surgery is a specialist broker that helps people who have trouble arranging life insurance because of their health, job, hobby, or age. We can help you find the best over 60s life insurance policy for your needs and budget.

To get started, fill in our online quote form. You will need to provide some basic information about yourself, such as your age, gender, and the amount and type of cover you want.

The Insurance Surgery will search the market and find the best quotes for you from our insurers. We’ll explain the pros and cons of each policy and answer any questions you may have. You can compare the quotes and choose the policy that works for you. The Insurance Surgery will help you apply and send it to the insurer.

The insurer will check your application and decide whether to accept you, reject you, or offer you different terms. They may request more information. or ask you to take a medical exam or answer health questions. If you’re accepted, you will receive your policy documents and start paying your premiums.

Getting over 60s life insurance through the Insurance Surgery can save you time, money, and hassle. We can help you find a policy that covers your needs and gives you peace of mind.

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Frequently Asked Questions.

We answer your most frequently asked questions.

How much life insurance you need at 60 depends on your personal circumstances and how you want to provide for your family once you’re gone. It might help to consider how much money you and your family spend each month, how much income you and your family make each month, debts, belongings, and how many people depend on you for money and support.

Generally, no, but it depends on the type of life insurance policy you choose and the insurer you apply to. Some policies may require you to have a medical exam or provide some health and lifestyle information, while others may not.

Yes, absolutely! If you’re keen to sort out funeral costs or live in peace knowing that your family’s finances are covered after your passing, taking out life insurance can be a great idea for over 60s. Just get in touch with our team, explain your circumstances and we’ll do the rest!

Yes, of course. Whole of life insurance offers the peace of mind that your family will definitely receive a lump sum after you die. Whilst policies like term life insurance can be cheaper, they don’t provide the same level of security as your policy can expire if you outlive the term.