Compare life insurance for over 50s
The table below shows life insurance policies for those aged 50-54 from our Online Partners.
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Fully underwritten cover. Issued by NobleOak.
Consider the PDS & TMD via rac.com.au/life
Flexible cover options to suit your needs.
Australian residents aged 18-55 can apply.
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The initial results in the table above are sorted by Star Rating (High-Low) , then Provider Name (Alphabetical) . Additional filters may have been applied, see top of table for details.
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Why take out life insurance when you’re over 50?
As you get older, you may be thinking more about what would happen to you or your family should anything unexpected happen in your life. If you’re looking for some added peace of mind, you may be wondering what options there are when it comes to life insurance for over 50s.
Life insurance is designed to give you and your family some financial security should something happen to you.
Life cover typically pays a lump sum amount if you die or are diagnosed with a terminal illness. This money is paid to your beneficiaries, such as your partner or children, and could help them cover living expenses or repay any debt.
When you’re in your 50s, you may have unpaid debts, such as a mortgage, or family members that might need to be taken care of in the event that you become ill or pass away.
The likelihood of you experiencing a health condition may increase as you age, with the top five leading causes of death in Australia all health related.
If you have minimal household debt and no dependents, you may decide you don’t need to get life insurance.
But if you do have family or other dependents, it may be worth considering whether the life insurance cover you have is enough for your needs.
You can buy life insurance directly from a provider, or via an adviser, or you may already have some cover through your superannuation. We’ve outlined some of the pros and cons of life insurance through super.
When comparing policies, consider factors like the inclusions, exclusions, limitations, waiting periods and premiums. Read carefully any Product Disclosure Statement (PDS) and Target Market Determination (TMD) before making a purchase decision.
You might want to seek help from an independent financial adviser.
Frequently Asked Questions about Life Insurance for Over 50s
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About the authors
Michael Lund, Former Senior Finance Journalist
Joshua Sale, Group Manager, Research & Ratings
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This advice is general and has not taken into account your objectives, financial situation or needs. Consider whether this advice is right for you.