Post Office life insurance for over 50 means Post Office Over 50s Life Cover, a guaranteed-acceptance plan for UK residents aged 50 to 80 that Aviva underwrites. This page covers the sums on offer at each age, the payout in the first year and in later years, and what follows if payments stop; the two Post Office plans side by side are on the Post Office life insurance overview.

Settling on a sum for Over 50s Life Cover goes easier with an FCA-authorised broker, whose help costs nothing; sending them the form on this page triggers their call back.

Who can apply and how much cover you can choose

The key facts document says a person is eligible "if at the start date they are resident in the United Kingdom and aged 50 to 80", and that, provided those criteria are met, "Aviva guarantee to accept your application for Post Office Over 50s Life Cover." The same document adds: "There are no questions asked about your health or any medical conditions that you may have." You choose a benefit amount, which is the sum paid when you die, from £1,000 upwards. The ceiling depends on your age when the policy starts:

Age at start dateMaximum benefit amount
50 to 69£10,000
70 to 74£9,000
75 to 80£6,000

Under the Increasing Benefit Option, described further down, the benefit amount "could increase beyond these limits". Holding several Post Office Over 50s policies does not get round the ceiling: the terms limit the total paid under all of them combined to what a single policy at the maximum would pay, and any reduction falls on the policy started most recently, with the matching share of its premiums refunded.

On joint cover, the Post Office's web page says the plan is single-life, so that each partner takes a separate policy, while the key facts document also describes a joint plan with a partner life insured. Which of those applies to a new application is worth settling with a broker when they ring after you send the form.

If you later ask to raise the benefit amount, the new ceiling is based on your age on the day you ask, and the extra amount starts its own 12-month deferred period. Reducing the amount does not start a new one, and the premium falls with it.

What the plan pays, and when

What your family receives depends on how and when you die:

EventAmount payable
Accidental death, at any timeTwo times the benefit amount
Death from any other cause within 12 months of the policy start date (the deferred period)1.5 times all premiums paid towards that person's cover
Death from any other cause once 12 months have passedThe benefit amount

The policy glossary gives accidental death a narrow meaning: death "as a direct result of an accident which took place while the life insured was covered under the policy and where death occurs within 90 days of the accident". An accident, in turn, has to be caused "directly and solely" by accidental, violent and external means, and an injury that is self-inflicted is outside the definition.

For how the same kind of rule works elsewhere, see funeral cover waiting periods; who to contact when a claim arises is on claiming on a Post Office policy.

If you stop paying: missed premiums and the Protected Benefit

This is the part of the plan that changes most with timing. The policy terms say: "There is a Protected Benefit on this policy which means that if two consecutive premiums are missed or the policy is cancelled and the life insured is at least halfway through paying for their cover, Aviva will still pay-out at least half of the benefit amount on death."

Halfway is counted in payments, not years. The terms define it as half of the monthly premiums due between the policy start date and the policy anniversary on or after the 95th birthday. The key facts work an example: a policy taken out at 75 with a benefit amount of £3,500 could, depending on when the policy anniversary falls, have premiums due over 20 years (240 months). Stop paying after exactly 15 years, or 180 premiums, and the Protected Benefit is 180 ÷ 240 = 0.75, and 0.75 × £3,500 = £2,625. The amount depends on how many payments were made, and the Post Office will contact you to say how much it will be.

Miss two payments in a row before the halfway point and the position is different: "your policy will end and Aviva will have no further responsibility in respect of this policy." Aviva has absolute discretion to reinstate cover if the outstanding premiums are paid in full, and may vary the cover it offers when it does. Once you qualify for the Protected Benefit and are no longer paying, you cannot make changes to the policy, and any Increasing Benefit Option is removed. A benefit amount added later, or a partner added later, gets its own separate Protected Benefit calculation.

If the premium becomes hard to afford, the key facts point to a gentler step first: lower the benefit amount, which lowers the premium, down to the £1,000 minimum.

The Increasing Benefit Option and inflation

Left alone, the benefit amount and the premium stay fixed. With the Increasing Benefit Option the benefit amount goes up each policy anniversary by a fixed 3% of the initial benefit amount, and the premium by a fixed 4.5% of the initial premium. The key facts show both as flat steps rather than compounding ones: a £4,000 benefit amount rises by £120 a year to £4,120, then £4,240, and a £20 premium rises by £0.90 to £20.90, then £21.80.

You can ask at any time for an increase not to be applied; if you opt out of 3 increases in a row, the option is permanently removed. The key facts also say plainly why it exists, and its limit: "The value of the benefit amount, including any increases, may not keep up with inflation and as such, the value may reduce over time."

Ask a broker how the increasing option would shift the monthly cost at your age once they have rung you back.

Funeral Benefit Option with Co-op Funeralcare

The Post Office's life cover pages describe a Funeral Benefit Option that can be added at no extra cost. The Post Office's over-50s page puts it this way: "If you’re looking to cover your funeral, your family can get an additional £250 off with Co-op Funeralcare at no extra cost." The discount depends on the type of funeral: £250 for Tailored, £100 for Essential or £50 for Direct to cremation.

The Post Office presents it as money off a Co-op Funeralcare funeral. Raise the steps your family would take to use that Co-op discount with the broker, whose call after the form on this page arrives costs you nothing.

For how the sums on offer compare with what funeral cover pays elsewhere, see funeral cover limits and over-50s plans compared.

What to weigh before you apply

The key facts list several things to consider, among them:

  • The plan "has no cash value and therefore cannot be cashed in at any time."
  • "Depending on how long you live, it is possible that the premiums paid may be more than the benefit amount."
  • Monthly premiums are no longer due once you reach the policy anniversary at or after age 95, and the cover carries on.
  • Cancelling within 30 days of receiving the policy documents gets a full refund of premiums, subject to no valid claim; after that, no refund. The routes are on contacting the insurer and cancelling.

The Post Office offers a £125 gift card or an experience worth up to £200 with this plan; its offer terms set a 180-day qualifying period and minimum premiums and say the offer ends 30 April 2027. The gift card page has more, and the offer is no reason to choose a plan. Aviva also sells its own over-50s plan on different terms, covered on Aviva's over-50s life insurance, and what over-50s plans cost and whether they are worth it look at the wider choice. Guaranteed acceptance itself is explained at guaranteed life insurance, and the hub for this subject is over-50s and later life.

With funeral costs or a family gift in mind, you can ask a broker to run the figures; the form on this page records your request, and the call-back is free.

Frequently asked questions

Can I get Post Office life insurance for over 65?

Yes. Eligibility runs from 50 to 80 at the start date, so 65 is inside the range. The ceiling is £10,000 for ages 50 to 69, then £9,000 for 70 to 74 and £6,000 for 75 to 80.

How do I find out what Post Office over 50s cover would cost me?

The key facts say the premium depends on the benefit amount, your age and smoker status, whether the plan is single or joint, and whether you take the Increasing Benefit Option. The Post Office points to a personalised quote for an exact figure, and the illustrations it publishes are on the overview page.

Is this the same plan as Aviva's own over-50s cover?

Aviva is the insurer in both cases, but the contract you hold is the one you bought. The Post Office says it only offers Over 50s Life Cover policies from Aviva. Bought by phone or on the Post Office website, the plan is arranged and sold by Neilson Financial Services after an introduction by Post Office Limited; bought through a price comparison website, it is arranged and sold by the firm running that comparison site.

What happens once I reach 95?

Premiums are no longer payable from the policy anniversary on or after your 95th birthday, but the cover continues for the rest of your life.

Sources