Over 50 life insurance is a type of life insurance for anyone aged 50. You pay for this life insurance for regular monthly instalments when you die it pays a cash lump sum. The money that can be used towards funeral costs to pay off any existing debts. Over 50 life insurance lasts for the whole of your life as long as you keep making monthly payments. The biggest advantage of over 50 policy is that acceptance is guaranteed. In this over 50 life insurance, the premiums are usually fixed. This means you can choose your premium that suits your budget and desired level of cover.