Over 50s life insurance provides you with cover for the rest of your life. It can provide a cash sum to help your loved ones with costs such as funeral expenses.

Our life insurance for over 50s helps you to live your best life without worry. All you need to do is pay a monthly premium, and we’ll pay out a cash sum when you die. It’s a simple and affordable way to leave money behind for your partner and family when you pass away. 

This money could be a valuable resource for your loved ones, offering assistance with funeral expenses or providing comfort during that difficult time.

Over 50s life insurance offers some peace of mind knowing that your family will get some financial help if the worst was to happen to you.

It makes sure that your loved ones will get a lump sum if you die. This can be put towards funeral costs or to help with making any necessary arrangements.

By making simple monthly payments, when you pass away, the policy pays a small cash sum to your beneficiaries. There are many benefits, including:

• Cover from £5 a month depending on your age and smoker status
• Protection from one of the UK’s largest life insurance providers, L&G
• Collect 22,000 Nectar points (worth at least £110) †. You’ll receive your points within 60 days after you’ve paid 5 months’ premiums. Full terms and conditions can be found in the bottom section of this page.
• Access to L&G Wellbeing Support Services
• Access to Care Concierge – a confidential and impartial telephony advisory service to help you or loved ones understand and navigate later life care options that will work for you
• Guaranteed acceptance if you’re aged between 50 and 80 and are a UK resident
• No medical questions required. Full cover payable after just one year. If you pass away within the first year, any premiums paid will be refunded. However, if you die as a result of an accident then full cover will be paid
• A level of cover to suit you – maximum cash sum £10,000
• After your 90th birthday, you will stop paying premiums but enjoy cover for the rest of your life

You can choose from two over 50s life insurance plans – Fixed Plan and Increasing Plan.

Over 50s fixed life insurance offers a simple way to help plan for the future. It’s designed for those who want to leave a fixed cash sum to their loved ones when they die. Choose your premium based on how much you can comfortably afford each month, and the cost will be fixed and guaranteed not to increase. Remember that inflation will reduce the buying power of your cash sum in the future.

With the Increasing Plan your cash sum increases in line with inflation as measured by the Retail Price Index (RPI). RPI measures the changing prices of everyday household goods and services like food and energy bills and shows how inflation rises over the years. The plan is designed to help protect your cash sum against the effects of inflation. With this type of plan your premiums will also increase every year.

Decide which plan suits your needs:

Before you apply it is important you understand how the policy works:

• These plans are not designed to meet the full costs of a funeral, and do not guarantee to do so
• They are not savings or investment products and have no cash value unless a valid claim is made
• Depending on how long you live, the total premiums paid may be greater than the cash sum paid out
• If you stop paying your premiums when due, your cover will end 60 days after your missed premium and you will not get anything back
• You can take out more than one plan as long as the total of your cash sum for all plans added together is not greater than £10,000. This includes any existing L&G Over 50s Plan you may have. For existing plans taken out on or before 25 November 2017, please refer to your policy documents for your total sum assured value
• There may be other products available if you want to answer further lifestyle and medical questions

• 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 be reviewed each year and it will increase by the change in the RPI, multiplied by 1.5. To keep pace with inflation you need to make sure you can meet the premium increases over the years. RPI may not keep up with future rises in funeral costs
• If the change in RPI rises to over 10% the maximum increase in your cash sum will be 10% and the maximum increase in your premium will be 15%. If RPI is less than or equal to 0%, there will be no change in the cash sum and premiums will remain the same
• If you’re worried you won’t be able to afford the increases in future, 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 buying power in the future. You won’t be able to increase your cash sum or premium in future years

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

Make sure you read all the information available including the policy summary document.

There are no medical questions, so you’re guaranteed to be accepted as long as you’re aged 50 to 80 and a UK resident.

L&G Wellbeing Support Services are a suite of telephone-based Wellbeing Support Services provided by RedArc Assured Limited. The services offer expert help and advice from qualified nurses. The support begins  from the day you take out cover for the duration of your policy.

There are lots of reasons why you might want access to Wellbeing Support; maybe you’d like a friendly chat following a medical diagnosis, or advice on navigating healthcare systems. We want to support you as much as possible. Here are just some of the ways L&G Wellbeing Support can help.

To apply by phone please call 0800 197 3373*. Lines are open from 8.30am – 8pm, Monday to Friday and 9am – 1pm on Saturdays.

* Telephone calls may be recorded for security purposes and monitored under L&G's quality control procedures. Calls free from a landline and mobile if calling from the UK.

† Collect 22,000 Nectar points

1) This offer is only available when you take out a new over 50s life insurance policy direct from Sainsbury's website or over the phone. Purchases through price comparison, cashback, voucher code and similar sites are excluded.
2) After you've paid 5 months' premiums, we'll add 22,000 (worth at least £110) points to your Nectar account within the following 60 days
3) You need to tell us your Nectar number when you apply
4) We'll award points for no more than 2 polices per household in any 12 month period
5) You won't be eligible for this offer if you've previously held and cancelled an Over 50s Life insurance policy provided by Legal & General Assurance Society Limited within the last 18 months, and you purchased the policy through Sainsbury’s plc
6) Sainsbury's Supermarkets Ltd award the points from this offer. No cash alternative is available
7) This offer is governed by English law and we reserve the right to change or cancel it without notice