So how does it all work?
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50+ Life Cover gives peace of mind
The Foresters Friendly Society 50+ Life Cover policy provides a cash lump sum after your death. The sum can be used to provide support for your loved ones at a difficult time, whether to help with funeral costs, unexpected bills or to leave a legacy for your loved ones.
When you apply, you can name beneficiaries who will receive up to £5,000 immediately following your death, without them having to wait for your estate to be sorted out, which can often be a lengthy process.
The 50+ Life Cover policy is not a savings or funeral plan - there is no guarantee that the amount received would cover the costs of a funeral. The lump sum your dependents receive may be subject to inheritance tax. Please be aware that tax rules may change and depend on individual circumstances.
You're guaranteed to be accepted
If you're a UK resident aged between 50 and 80 years old your acceptance for cover is guaranteed.
There won't be a medical examination and you won't have to answer any health-related questions. Even if you've had health problems in the past, you will be accepted for cover.
Premiums are fixed, affordable and fair
Cover starts from just £10 per month - or just 33p a day. You can choose a monthly premium to suit you, ranging from £10 up to £100 a month.
When you take out your policy, you choose a monthly premium that you pay for the rest of your life or until you reach the age of 90. At this age you automatically stop paying premiums - but your life cover continues.
You also have the peace of mind that your premium will never increase. Once you've chosen your premium, that's the amount you have to pay each month - you cannot increase or decrease it. If you want to increase your total life cover, then you can simply take out an additional policy.
If you stop paying your premiums within the first two years, your life cover will stop and you won't get back any of your money. If you stop paying at any time after two years, but before you die, you are likely to get back less than you've paid in.
We guarantee the amount of cover
The level of the guaranteed lump sum that we pay out when you pass away is calculated on the basis of your age and the monthly premium you select.
Because you don't need a medical to take out our 50+ Life Cover policy, if you die within the first two years of the policy, the cash sum paid out will be limited to returning the premiums you have paid, except in the case of accidental death, where we pay the full lump sum.
You must continue to pay your premiums to maintain your life cover until you reach age 90, when you will stop paying premiums but your life cover will continue. Depending on how long you live, the total amount you pay in may be more than the amount payable on your death.
A level of cover that could keep on growing
We invest your monthly premiums in our with profits Order Insurance Fund. Dependent on the performance of the fund and in addition to the guaranteed lump sum, we aim to increase the money your dependents receive with the addition of annual bonuses and a possible final bonus when the policy pays out on your death. The value of these bonuses is added to the guaranteed lump sum which increases your guaranteed level of cover. Provided you pay your premiums until you reach age 90 or you die, the value of bonuses - once added - cannot be taken away. The addition of bonuses is not guaranteed.
Other benefits of taking out an over 50 life insurance policy
As a Foresters member, you will have access to Foresters Extras - a range of discretionary benefits we offer at no additional cost.
- dental or optical grants to assist with covering costs are available to claim each year
- convalescent home respite - recuperate after an illness in a convalescent home free of charge
These membership benefits aren't regulated and are regularly reviewed by us to make sure our members get the best options.
Welcome gift - Up to £75 M&S vouchers
Take out a 50+ Life Cover Policy and, when we receive your first premium, we’ll send you a £35 M&S Voucher.
If you and your partner or friend decide to take out a policy each, you’ll receive vouchers worth a total of £75, again on receipt of the first premiums, just quote your partner or friend’s name in the promotional code box when applying.
See full Terms & Conditions >
50+ Life Cover - Product Performance >>