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Millions of over-50s could be ‘paying too much’ for life insurance

Millions of Britons are still paying money every month into a basic type of insurance called an over-50s life plan, despite the fact they are known for being expensive for what they provide.

New research suggests that people could be paying double what they need to and that traditional insurance policies may be the better option.

Figures show that a healthy 50-year old would pay £18.96 a month for £15,000 whole-of-life cover against £43 a month on an over-50s plan for the same sum.

Typically the over-50s plans are easier to apply for and don’t require a medical but we suggest spending the time to find the correct policy for you.

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