Later Life Cover Explained  

Blog written 29/11/2023 

Life cover isn’t just for younger people to protect their mortgage and/or dependent children. Life cover may also be needed in later in life to provide extra protection when you die. This can help towards funeral costs, inheritance tax or to leave a legacy to your loved ones to support them financially. 

Later life cover has no end date. It lasts for the whole of your life until you die whenever that is.  

For later life cover, we advise on 2 types of plans. Before making a recommendation, we will get to know your individual circumstances so we can advise you on the best option for you.  

The 2 types of later life cover we can advise on are: 

Whole of Life Cover 

This type of cover requires medical underwriting. This means that your medical history will be reviewed by the insurance provider and acceptance is dependent on your health.  

You can apply for higher amounts of cover with this type of plan.  

The cost of the cover (premium) is dependent on your age at application and the sum insured (life cover amount).   

Over 50’s Life Cover 

This type of cover offers guaranteed acceptance without medical underwriting. This cover may be suited to those that have experienced health issues and may not be eligible for other types of cover.  

This type of plan has an upper limit to the amount of cover you can have. This maximum amount is dependent on your age at application.  

The cost of the cover (premium) is based on your age at application and the sum insured (life cover amount).  

With this type of plan, you only pay the premiums until you reach the age of 90. After which the life cover continues until you die whenever this happens.  

Both policy types are ‘pure protection’ plans and have no cash-in value at any time. If you stop paying the required premiums, the life cover will lapse. The recommended plan may have other limitations & exclusions. We will explain the key facts to you before proceeding. 

If you would like more information or would like us to assess your position, and recommend the most appropriate cover, please contact us to make an appointment. 

The information contained within this blog was correct at the time of publication (29/11/2023), and is subject to change. 



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