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One Family protection products
One Family’s core protection offering is their over 50s life insurance, a whole of life policy with guaranteed acceptance and no medical questions. They also offer other savings and investment products.
Structure
Mutual
Based in
Brighton
Eligible ages
50, 80
Medical required
None
Over 50s life insurance. How it works
Over 50s life insurance is a type of whole of life policy specifically designed for UK residents aged 50 to 80. Here’s what you need to know.
Guaranteed acceptance, no medical questions
One Family’s over 50s policy accepts all UK residents aged 50 to 80 regardless of health history. There are no medical questions at application, making it accessible to those who may have been declined for standard life insurance due to health conditions.
Whole of life, no end date
Unlike term life insurance, an over 50s policy has no fixed end date. It pays out whenever you die, as long as you keep paying the monthly premium until age 90. This means the policy will always pay out eventually.
Fixed premiums that never increase
Your monthly premium is set at the outset and does not depend on changes to your health. Check One Family's policy summary for how premiums are set. This makes budgeting straightforward and predictable.
Lump sum paid on death
The policy pays a fixed lump sum on death. This is typically used to cover funeral costs, pay off small debts, or leave a gift for loved ones. The benefit amount is set at the outset. Check One Family's policy summary for any increasing benefit option.
Waiting period on death by natural causes
Most over 50s policies, including One Family’s, include a waiting period (typically 12–24 months) during which death by natural causes may not be covered. Death by accident is usually covered from day one. Always refer to the policy terms for full details.
Important trade-offs to understand
Over 50s life insurance is a useful product for the right person, but it’s important to understand the trade-offs compared to standard term life insurance. As independent advisers, we always explain these clearly before making a recommendation.
Lower benefit amounts
Over 50s policies typically provide lower benefit amounts than standard term life insurance for the same premium. They are designed for smaller needs such as funeral costs, not large mortgage or income replacement needs.
You may pay in more than the policy pays out
If you live for many years after taking out the policy, the total premiums paid may exceed the lump sum benefit. This is an important consideration when assessing value for money.
Inflation erodes the benefit
The lump sum is normally fixed and does not increase with inflation unless an increasing option is chosen. Over time, the real value of the benefit will reduce. This is worth considering when choosing the benefit amount.
✓ Right for the right person
For those who cannot obtain standard life insurance due to health conditions, or who simply want a straightforward policy to cover funeral costs, over 50s life insurance can be an appropriate and accessible solution.
One Family, a Brighton-based mutual
One Family is a mutual insurer based in Brighton. As a mutual, it is owned by its members rather than external shareholders, meaning profits are reinvested for the benefit of policyholders rather than paid out as dividends. One Family was formed from the merger of Engage Mutual and Family Investments, bringing together two organisations with long histories in the mutual financial services sector.
One Family is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.
Mutual
Member-owned
Brighton
UK headquarters
50–80
Eligible age range
Other life insurance providers we advise on
We compare One Family against all of these and more.
Royal London Life Insurance
A mutual insurer with strong life insurance, critical illness and income protection products.
LV= Doctor Services Explained
Another mutual insurer with strong life insurance and income protection products.
Guardian Critical Illness Cover Explained
Adviser-only pure protection with some of the most comprehensive CI definitions in the UK market.
Life insurance explained
Start here. What life insurance does, the types, and how much cover a family actually needs.
Zurich Life Insurance
Flexible cover with free protection while you are underwritten and between exchange and completion.
Aviva Life Insurance
Term cover with DigiCare+, a 24/7 private GP and an annual health check for the household.
Vitality Life Insurance
Life cover that reduces your premium when you stay active, with rewards you use every week.
Get Independent Life Insurance Advice
Not sure which provider or product is right for you? Send us an enquiry for an honest view.
Protection advice, available across the UK
That’s Family Finance provides protection advice to families and individuals across England, Scotland, Wales and Northern Ireland. Whether you’re in London, Manchester, Birmingham, Leeds, Bristol, Sheffield, Edinburgh, Cardiff, Glasgow, Essex or anywhere in between, we work with you remotely or in person to find the right cover for your circumstances.
We advise on One Family alongside other protection providers, including Royal London, Zurich, LV=, Legal & General, Aviva, Guardian and Vitality.
We are not One Family.
Want to know if One Family is right for you?
Send us an enquiry or reach us on WhatsApp for an honest, no-obligation view on whether over 50s life insurance, or another product, is right for you.
Not tied to One Family
Common questions
Questions we’re asked about One Family and over 50s life insurance.
Over 50s life insurance products typically include a waiting period during which death by natural causes may not be covered. Always refer to One Family’s own policy documentation for the most current details, including full product terms and conditions, waiting periods, exclusions and benefit amounts.
We are not One Family. This page contains information about One Family’s products based on their published materials at the time of writing. OneFamily is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.
Where to go next
Over 50s cover is a narrow product. These cover the rest of the picture.
- Life insurance explained, the main guide
- Critical illness cover, pays on diagnosis rather than on death
- Income protection, replaces your wage if you cannot work
- Mortgage protection, keeps the family in the house
- Family income benefit, a monthly income instead of a lump sum
- How much life insurance do you actually need?
- Putting life insurance in trust, so the payout is not taxed as part of your estate
Talk it through with us
Tell us what you have in mind and we will come back to you, usually the same day. We are open Monday to Saturday, 9am to 8pm.