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Legal And General Over 50S Life Insurance Review

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Legal And General Over 50S Life Insurance Review

Complete 2026 review of Legal & General over 50s life insurance. Discover if L&G's over 50s life plan (ages 50-80) offers the right cover for you. With guaranteed acceptance, no medical exams required, and cover from £2,000-£20,000 available from just 20p-a-day, L&G is one of the UK's leading over 50s life insurance providers. Founded over 150 years ago with an AA- financial strength rating, compare L&G over 50s plan with other trusted UK insurers through LifePro's whole of market service.

By: Matt Taylor Project Manager Updated: 2nd January 2026

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Legal & General are one of the UK’s leading financial services companies and an award-winning life insurance provider.

Founded over 150 years ago, Legal & General offer a range of protection products, including:

Why compare over 50s life insurance through LifePro?

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Legal & General over 50s life insurance (also known as over 50s life coveror an over 50s plan) is a type of life assurance that’s designed for people aged 50 - 80.

It guarantees to payout a cash cash payment to your family members upon death and could help towards:

How much over 50 life insurance do you need?

Enter your financial commitments below to understand the level of over 50 life insurance you require.

The amount of life insurance you need depends on your financial obligations and what you want to provide for your loved ones. A common rule of thumb is to have cover worth 10 times your annual salary, though your individual circumstances may require more or less.

Consider the following when calculating your life insurance needs:

  • Outstanding mortgage balance
  • Other debts and loans
  • Income replacement for your family (typically 5-10 years of salary)
  • Children's education costs
  • Funeral expenses (typically £4,000-£10,000)
  • Any specific financial goals for your dependents

For example, if you have a £200,000 mortgage, earn £40,000 per year, and want to provide 10 years of income replacement, you might need around £600,000 of cover (£200,000 + (£40,000 × 10)).

Use our free comparison tool to get personalised quotes from 50+ UK insurers, including Legal And General Over 50s Life Insurance, and find the right level of cover for your needs at the best available price.

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Frequently Asked Questions

How much does over 50s life insurance cost?

Premiums for over 50s life insurance typically range from £10-£50 per month, depending on your age, smoking status, and the level of cover you choose. Policies are available with guaranteed acceptance for ages 50-85.

Do I need a medical exam?

No, over 50s life insurance requires no medical exams or health questions. Everyone aged 50-85 is guaranteed acceptance regardless of their health conditions.

How quickly will my family receive the payout?

Most insurers pay out within 7-14 days of receiving the death certificate and completed claim form. This ensures your family can cover funeral expenses and other costs promptly.

What is Legal & General's financial strength rating and why does it matter?

Legal & General has an AA- (Very Strong) financial strength rating from major credit rating agencies like Standard & Poor's and Fitch. This is one of the highest ratings in the UK life insurance market, indicating excellent financial stability and ability to pay claims. The rating matters because you're buying a policy that may not pay out for 20-30 years - you need confidence the insurer will still exist and be financially capable of honoring the claim when you die. An AA- rating means Legal & General has very strong capacity to meet their financial commitments, with low likelihood of default. In contrast, some smaller or newer insurers have ratings of A or BBB, which are still investment grade but indicate slightly higher risk. Legal & General's strong rating is backed by their £180+ year history and position as one of the UK's largest financial services companies with substantial capital reserves.

What is the qualifying period for Legal & General over 50s life insurance?

Legal & General over 50s life insurance has a 24-month qualifying period (also called waiting period). This means if you die from natural causes within the first 24 months, your beneficiaries receive only a refund of premiums paid plus interest, not the full cover amount. However, if death is due to accident during these first 24 months, full cover pays out immediately. After 24 months, full cover applies regardless of cause of death. Legal & General's 24-month qualifying period is longer than some competitors - SunLife, OneFamily, and Aviva have 12-month periods, which means full cover starts 12 months earlier. This longer qualifying period is something to consider when comparing providers, especially if you're in poor health or older age. If immediate or faster cover is important, providers with 12-month qualifying periods may be preferable, though Legal & General compensates with excellent financial strength and included terminal illness benefit.

Does Legal & General over 50s life insurance include terminal illness benefit?

Yes, Legal & General over 50s life insurance includes terminal illness benefit as standard, which is a significant advantage over many competitors who don't offer this feature. Terminal illness benefit means if you're diagnosed with a terminal illness and given 12 months or less to live by a medical professional, you can claim your full policy payout early (while still alive). This allows you to use the funds during your lifetime - perhaps to pay for care, make your remaining time comfortable, settle debts, or give gifts to loved ones. To qualify, you must have passed the 24-month qualifying period and have medical certification of terminal prognosis. Not all over 50s providers include this benefit - OneFamily, SunLife, and Shepherds Friendly typically don't include terminal illness cover, or charge extra for it. Legal & General includes it automatically at no additional cost, which adds significant value to their policy despite potentially higher premiums than mutual insurers.

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