Looking for life insurance over 60? The right policy depends on what you want the payout to achieve, how much you can afford and whether you need cover for a fixed number of years or for the rest of your life.
There isn't one reliable monthly price for everybody in their 60s. An accurate premium generally requires a specific insurer, type and amount of cover, along with age and, for underwritten policies, relevant health and lifestyle information. This page explains your options rather than inventing an instant insurer quotation.
Life insurance over 60: where should you start?
Ask what financial problem the cover should solve. Some people still have a repayment mortgage or a partner who relies on their income. Others want a defined sum to help with funeral expenses or to leave a gift to family. The amount and duration of cover should reflect that purpose, not simply your age.
What types of life insurance are available after 60?
- Underwritten term life insurance: provides cover for a stated number of years. Eligibility and cost depend on the insurer, your age, health, nicotine use and other underwriting factors. A valid claim during the term normally pays the specified benefit; if you outlive the term, cover ends without a cash payment.
- Guaranteed-acceptance over-50s plans: typically have age and residence rules but do not ask the same medical questions as underwritten cover. They often provide smaller fixed benefits and may exclude natural-cause death during an initial waiting period.
- Underwritten whole-of-life insurance: is designed to continue for life while policy conditions and premium obligations are met. Guaranteed and reviewable premium structures can differ substantially.
Our over-50 life insurance guide explains the broad difference between the product types in more detail, and our whole-of-life cost guide explains why lifetime-cover quotations need care.
How much life insurance do you need in your 60s?
Start with outstanding mortgage or other debts, what a surviving partner or dependants would need, and how much existing cover or accessible savings is available. You may need less cover than you did when children were younger—but that is not true of every household. Use our life insurance needs guide to work through the figures before choosing an amount.
Are over-60s policies more expensive?
For otherwise comparable new policies, age is an important pricing factor and cover can become more expensive as applicants get older. Health, smoking status, duration and benefits also matter. However, you cannot meaningfully compare a guaranteed-acceptance plan with a large underwritten term policy on monthly cost alone: the potential payout, exclusions and expected duration may be entirely different.
What should you know about guaranteed-acceptance plans?
Check whether an initial waiting period applies, what benefits are paid during that period, how long premiums must continue, and whether the total premiums could exceed the eventual payout. The fact that a plan is marketed for older people does not mean it is the best fit for someone who might qualify for underwritten cover.
What about health conditions after 60?
Having a health condition does not always mean you cannot get underwritten life insurance. Insurers assess conditions individually and might offer cover at standard terms, a higher premium, with particular restrictions, or not at all. Disclose any information requested accurately. Read our life insurance with medical conditions guide for further background.
Should you keep an existing life insurance policy?
Think carefully before switching or cancelling an existing policy. A replacement may cost more because of age or changed health, or you might not qualify at all. Do not end an existing policy until you understand the implications and any appropriate replacement protection is fully in force.
Compare life insurance quotations over 60
If you want fixed-term cover, request a personalised life insurance quotation through our short form. It collects your preferred benefit and duration for our advisers to review. It does not calculate or guarantee insurer premiums automatically.
For whole-of-life or guaranteed-acceptance over-50s plans rather than term cover, contact our team so we can discuss the product type before exploring suitable options.
General information, not a personal recommendation. Discount Life Cover is a trading style of My Key Finance Ltd, authorised and regulated by the FCA (FRN 628996). Product availability and age limits vary by insurer.