Engage Mutual Assurance can provide over 50s life insurance that could potentially provide policyholders with some peace of mind that their loved ones will receive a one-off cash sum when they die. The cash amount can be used towards funeral costs, unsettled debts or at the person's discretion. However, the over 50 life cover should not be treated as a funeral plan as it may not cover the full cost of a funeral.

To be eligible for Engage Mutual Assurance's over 50 insurance, a person must be a UK resident and aged between 50 to 80 years old. Engage guarantee that a person will not have to take a medical to be accepted onto a plan and they won't ask any intrusive questions regarding their health. Life cover premiums start from a minimum of as little as £8 up to £50, so a person can choose the monthly rate that best suits them. Once a person reaches the age of 90 years old, they will not have to pay any premiums but they'll be covered for life and the policyholder can rest assured that the premium amount will remain fixed until this point.

The policyholder could possibly pay more premiums than the cash sum provided and inflation could potentially reduce the buying power of the amount. The full sum is also not payable within the first two years of the plan. During this period Engage Mutual Assurance will pay 150% of the premium for natural death. Policyholders have a statutory right to cancel their over 50 life cover plan within 30 days of receiving their policy documents and they'll receive 100% of any premiums paid.

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