Unfortunately, the amount of cover available to you with an over 50’s plan is significantly less than a regular life insurance policy; and the older you are the less cover is available to you. You may also have a reduced cover amount available to you if you are a smoker. Furthering this, premiums for an over 50’s plan can be expensive in comparison to the level of cover available to you; this is due to your age and the fact that the policy is guaranteed to pay out.
Another reason that there is a limited amount of cover available is due to the fact that over 50’s plans are designed to act as funeral cover; therefore if you needed more cover for another reason e.g. mortgage you may want to consider taking out a regular life insurance policy.