Help protect family members with the best life insurance for over 60s

The best life insurance for seniors over 60 will depend on an individual’s circumstances and needs.

For example, if you have a medical condition and you’re looking for affordable lifelong cover, then the best policy may be a guaranteed over 50s plan.

Or, if you’re in good health, you may consider term life insurance. This can provide low-cost cover for a set period, for example, to help pay off your mortgage if you die. There’s also the option of whole of life insurance.

In this guide, we explain the key features, benefits and prices of each of these policies to assist you decide which option is best for you.

What is the best life insurance policy for over 60?

There are different types of life insurance that could be available to applicants over 60. We outline the key features of each policy below to assist you decide which may be the best option for you.

Which are the best life insurance companies for those over 60?

Applicants over 60 can compare current eligibility, cover, exclusions, policy terms and personalised premiums from multiple insurers.

However, we’ve provided a few examples of highly rated providers and premium prices to assist you with your search.

If you’re looking for over 50s life insurance, then some of the best UK life insurance companies that specialise in this type of cover include:

Best over 60 life insurance calculator UK

How much over 60s life insurance do you need? Add up the costs you'd like your policy to cover using our handy calculator and calculate your ideal cover amount.

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 comparison service to compare available policies, premiums and cover from a wide range of UK insurers.