Over 50s Guaranteed Protection Plan
Get cover and keep enjoying life
The Over 50s Guaranteed Protection Plan is designed to pay your family a guaranteed fixed cash sum on your death. It helps you take care of what's important so you can get on with enjoying life. The table below provides all the plan detail and things you should consider. For more information on Over 50 please visit the in detail tab.
| i Your Over 50s Guaranteed Protection Plan | i Things you should consider |
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No advice has been provided by Scottish Friendly in relation to this plan. If you are in any doubt as to whether this plan is suitable for you, you should contact a financial adviser for advice. If you do not have a financial adviser, you can get details of local financial advisers by visiting www.unbiased.co.uk. Advisers may charge for providing such advice and should confirm any cost beforehand.
Get cover and keep enjoying life
Here’s a simple and affordable over 50s life insurance plan. From as little as 27p per day you get life cover for the over 50s. And we guarantee you’re accepted, because we don’t ask medical questions.
The Over 50s Guaranteed Protection Plan is designed to pay your family a guaranteed fixed cash sum on your death. It helps you take care of what's important so you can get on with enjoying life.
Life cover for the over 50s from just 27p per day
You can get life cover from just 27p per day. That’s only £8 per month. The maximum monthly premium for the over 50s life insurance is £50. Whatever suits your budget. You choose. But we guarantee the premium won’t go up and the level of your over 50s life cover never goes down.
Of course, the more you pay each month, the more your loved ones will receive when the plan pays out. The plan will have no cash-in value at any time. When you choose the amount of life cover for over 50s, you should bear in mind that over time inflation will reduce the buying power of the cash sum payable on death.
How much will be paid out to your family depends on how much you pay monthly, whether you’re a woman or man and smoke or not. Here’s what different over 50s insurance plan scenarios may give your family:
| Monthly premium | Female Smoker | Female Non-Smoker |
Male Smoker |
Male Non-Smoker |
|---|---|---|---|---|
| £8 | £1,322 | £2,138 | £942 | £1,655 |
| £20 | £3,588 | £5,803 | £2,557 | £4,493 |
| £30 | £5,476 | £8,857 | £3,902 | £6,858 |
The rates in these examples are based on someone aged 60 after paying a monthly premium for 2 years.
How it works
You’ve life cover for as long as you continue to pay your premiums. Full life insurance begins after your second year. If you die of natural causes during the first 2 years, we’ll return your premiums in full. However, if you die of accidental causes during this time, we’ll pay out your life insurance in full.
When you reach the age of 85, you no longer have to pay premiums, but your level of life insurance cover will remain the same. This also means that depending on how long you live, the total premiums paid in may be more than the amount payable on death. If you stop paying before you’re aged 85, the cover will stop and the plan has no cash-in value.
Funeral expenses
If you like, your plan can be used to pay towards your funeral expenses. In that case you can nominate the payout to go to Golden Charter, the UK's leading independent funeral plan provider.
When you use this option, Golden Charter will take care of all the arrangements. Plus they’ll add an extra £200 of funeral benefits to your payout.
You can choose the Golden Charter option on your application form.
Get a quote
Starting Over 50s Guaranteed Protection Plan with Scottish Friendly is easy.
Make sure you have read and understood the Key Features before you apply. Get a personalised over 50s life insurance quote and if you're happy with it, you can apply straight away.
If you apply, we suggest printing or saving a copy of this page, other relevant pages and the Key Features.
Get an Extra £200 of Funeral Benefits from Golden Charter
With the Scottish Friendly Over 50's Guaranteed Protection Plan, you can choose our Golden Charter funeral benefit option. Provided the amount of cover you select is under £5,000 (please get a quote to check this), £200 of funeral benefits will be provided by Golden Charter if the policy proceeds are used towards your funeral. Golden Charter, the UK's leading independent funeral plan provider, will also select a funeral director who is situated close to your home.
About Golden Charter
Founded in 1990, Golden Charter is the UK's largest independent funeral plan provider. These funeral plans are accepted by over 2,100 independent funeral directors, of whom 1,400 exclusively recommend Golden Charter.
Golden Charter is registered with the Funeral Planning Authority and is the only funeral planning provider recommended by the National Society of Allied & Independent Funeral Directors. Customers purchasing a plan from a Registered Provider have the reassurance that they do so from one of the most reputable companies in the industry; one that maintains high standards and properly protects its plan-holders' funds.
Terms and conditions
By ticking the box on the application form, you agree to legally nominate the policy proceeds to Golden Charter Limited to be used to pay the selected funeral director for the funeral. In the event that the policy proceeds are in excess of what is required for the funeral, then Golden Charter will pay the difference to your estate. If the cost of the funeral is greater than the sum assured, then your estate will be required to pay any difference. This is subject only to the funeral having been conducted by one of Golden Charter's list of independent family funeral directors who are represented throughout the UK. The £200 will be applied either by discounting the normal cost of the funeral or adding services to that value. The nomination will automatically end if you should marry after your plan is set up. However you can set up the nomination again after your marriage by writing to Scottish Friendly to confirm this.
Once the policy has been in force for 28 days and Golden Charter has been advised of your agreement to nominate the policy proceeds to them, you will receive a letter of confirmation and a welcome pack from Golden Charter which should be kept safely with the policy document.
You have the right to change your mind about this at any time. If you wish to cancel the funeral element of this policy, please notify Scottish Friendly and Golden Charter in writing. If you cancel either the funeral element of the plan or the nomination then you will receive no funeral benefit.
