The objective here is to cover as much ground as possible in regards to the available over 50 life insurance policies within the UK. Today's posting will merge Northern Rock and Skipton who are both introducers for the popular life cover provider Legal & General. The Northern Rock bank was previously the Northern Rock Building Society whilst we also have the mutual insurer the Skipton Building Society. Northern Rock has roots dating back to 1850 and is today owned by Virgin Money that is the financial department of Richard Branson's Virgin Group. The Skipton Building Society was founded in 1853 and the company has found great success in their mortgage and investment products. The feature today is of course the Northern Rock Over 50s Fixed Plan and the Skipton Over 50s Life Insurance Plan.
Family Investments (Family Assurance Friendly Society Limited) is a mutual insurer with over 35 years experience. Their main life insurance product is provided by Aviva, but they provide their own over 50 life plan named the Family Investments Over 50s Life Insurance Plan (edit: they only offer this over 50 plan now). It was strange to see this plan listed within their "Other Solutions" section that would imply that this isn't one of their central interests. One of the initial things about their cover that caught my attention was that they state that: "We don't cover: Those who have suffered from a heart attack, stroke or cancer in the last 5 years and those who have a terminal medical condition." No medical exam is required, but I haven't seen any other provider in the UK have such a restriction in place. The Family Investments over 50 plan is designed for those between the age of 50 and 80 with the premiums ranging between £8 and £30 being paid to the age of 90.
Saga caters everything from credit cards, to holidays, to insurance and more (designed for the over 50s). In regards to their over 50 life cover, they don't tend to have much of a prominent search engine presence; I did have to dig quite deep to find out more about their cover. Saga is certainly a large scale organistion owned by Acromas Holdings Limited who also own The AA. Saga's plan is called Saga Guaranteed Life Insurance and this cover is provided by PruProtect. I had a look on the PruProtect site and all they seem to sell is general life insurance and so it does look like Saga and PruProtect have a unique partnership in place to cater life insurance for over 50s. This Saga life cover plan is designed for UK residents between the age of 50 and 85 with premiums that stop at 90. These premiums can range between £10 and £50 with maximum cover standing just below £23,000.