National Friendly over 50s life insurance review

National Friendly is a UK-based mutual society with a long history of providing financial protection.

In this review, we look at the key features and benefits of their over 50s life insurance (which is the only life insurance policy they offer) to help you decide if it’s the right option for you.

We also explore National Friendly reviews and ratings to give you a better understanding of the policy and service offered.

Why not compare over 50s life insurance quotes through Reassured? We can’t provide National Friendly quotes, but we can provide our best prices from top UK companies to help you find an excellent deal.

Guaranteed over 50s life cover starts from just £5 a month + through our fee-free, award-winning service. Help protect your loved ones by securing cover today.

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National Friendly life insurance for over 50s: Quick Summary

  • Rated 2 stars (out of 5) by the experts at Defaqto[1] and Fairer Finance[2]
  • Monthly premiums range from £20 and £100 depending on the level of cover you need and your budget
  • Guaranteed acceptance for UK residents aged 50 - 80 (non-smokers) and 50 - 75 (smokers)
  • Immediate accidental death cover with 200% pay out if you pass away from an accidental cause after taking out a policy
  • Full cover starts after 6 months (if you answer two optional medical questions) or 24 months (if you don’t answer the questions)
  • Policyholders receive free access to 24/7 virtual GP services
  • National Friendly are regulated by the Financial Conduct Authority (FCA) and policyholders are protected by the Financial Services Compensation Scheme (FSCS)

What is National Friendly over 50s life insurance?

National Friendly over 50s life insurance is a type of policy that provides your family with a lump sum pay out when you pass away in exchange for a monthly premium.

The money paid out to your loved ones can help towards:

  • Your funeral costs (the average cost of a funeral is £4,141[3])
  • Outstanding debts or bills
  • Daily living costs
  • An inheritance for them to spend on anything they wish

National Friendly over 50s life cover guarantees acceptance to UK residents aged 50 - 80 (non-smokers) and 50 - 75 (if you’re a smoker).

Learn about other types of cover available to people over 50 in our complete over 50s life insurance guide »

National Friendly life insurance reviews

As of June 2024, National Friendly are rated ‘Great’ on Trustpilot from 189 customer reviews. However, these reviews relate to the various products they sell.

On independent review site, Defaqto, National Friendly over 50s life cover is rated 2 stars (out of 5 stars) and on Fairer Finance, it’s also rated 2 stars.

Review siteStar rating (out of 5 stars)Analysis
Trustpilot logo 3.9
('Great')		This rating is based on just 189 customer reviews. These reviews refer to the various products they sell, not just their over 50s life cover
5 star defaqto rating Defaqto 2 stars A 2 star rating shows that this policy may not offer the best value for money in comparison to other policies available on the market
Fairer Finance logo Defaqto 2 stars A 2 star rating suggests that this policy may not offer as many valuable features as some other policies available on the market

Reassured is rated ‘Excellent’ on Trustpilot based on over 77,000 customer reviews, making us one of the highest rated fee-free life insurance brokers in the UK.

Our award-winning team are on hand to help you compare over 50s life insurance from highly rated and reputable insurers, including SunLife and One Family.

Compare Over 50s Plans » Save Money

Who owns National Friendly life insurance?

As a mutual society, National Friendly is owned by their members.

This means that their profits are reinvested into the business for the benefit of their members, rather than paid out to shareholders.

National Friendly has been offering financial protection to families in the UK since 1868.

Their products include:

  • Over 50s life cover
  • Private medical insurance
  • Income protection
  • Accident only income protection
  • Care plans

National Friendly is a member of the Association of Financial Mutuals and is a regulated by the Financial Conduct Authority (FCA).

Is National Friendly part of AXA?

No, National Friendly is not part of AXA.

These are two separate companies which both offer a range of insurance products.

Although, AXA doesn’t offer over 50s life insurance or any other type of life insurance.

How much over 50 life insurance do you need?

Enter your financial commitments below to understand the level of over 50 life insurance you require.

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According to Uswitch, it’s estimated that 23,000 people in the UK will still be paying off their mortgage by age 75.

Although an over 50s plan can’t cover the full cost of a mortgage (as cover is capped at £20,000), it could help to contribute some funds towards keeping your family in their home.
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Research by Saga shows that nearly 6 million over 50s owe money on credit cards and loans, with average debt amongst this age group totalling £12,000.

Depending on your personal circumstances, an over 50s plan may not be able to cover all debts (as cover is capped at £20,000) but it could allow you to cover some debts in your name.
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SunLife’s Cost of Dying 2023 report found that the average cost of a basic funeral is £3,953, with the overall cost of dying totalling £9,200.

A pay out from life insurance can help to cover all or some of these costs.
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Age UK have found that many over 50s and 60s will be reliant on their pension to get by.

Life insurance can provide your partner with a helping hand on top of their pension.
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An inheritance can provide your loved ones with a cash gift to spend as they wish.

Alternatively, you could leave a portion of your pay out to a charity that’s close to your heart.
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If you already have a life insurance (or other financial protection) policy in place, and/or you have your own savings, factoring these into your sum assured could reduce the level of cover you require - helping you to save money.
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Your total cover estimate

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National Friendly over 50s life insurance key features

Feature National Friendly logo
Guaranteed acceptanceUK residents aged:
50 - 80 for non-smokers
50 - 75 for smokers
No medical questions or examYou don’t have to answer any medical questions or undergo an exam to secure a policy.

However, if you choose to answer two medical questions, you might be eligible for a higher pay out amount.
Fixed monthly premiumsPremiums stay the same and will need to be paid for the rest of your life. The cost of your monthly premium is based on your age, smoking status, sum assured (cover amount) and responses to the medical questions (if you choose to answer these).
Waiting period of either 6 or 24 monthsThe standard waiting period (or ‘qualifying period’) is 24 months. You won’t be fully covered until this period ends. If you choose to answer the two medical questions, the waiting period could reduce to as low as 6 months (depending on your health).

If you pass away from a natural cause during the waiting period, the insurer won’t pay out the full sum assured, but any payments you’ve made will be paid out to loved ones.

Accidental death coverIf you pass away from an accidental cause during the waiting period, the insurer will pay out double your sum assured.
Terminal illness coverThis allows you to make a claim on your policy if you’re diagnosed with a terminal illness and expected to pass away within 12 months (after the waiting period). In this instance, the insurer will pay out half of your sum assured directly to you, and the remainder when you pass away.
Nominated beneficiaryThis means you can name a person or people to receive up to £5,000 of your sum assured. This helps to speed up the claims process and they can receive the money earlier. If your sum assured is higher than this, then the remainder will be paid to your estate.
Friendly GP accessThis is a free benefit included as standard. It gives policyholders 24/7 access to a virtual GP service over the phone or online.

How much does National Friendly over 50s life cover cost?

National Friendly over 50s life cover costs between £20 and £100 a month.

You can select a monthly premium that suits your budget, and this will determine the level of cover you can take out.

Factors that affect the maximum level of cover you can secure include:

With National Friendly, your health could also determine the maximum level of cover you can secure if you choose to answer two medical questions.

The optional medical questions require information about:

  1. Whether you’re awaiting or undergoing consultations, investigations or test results for an undiagnosed medical condition. Or, have recently been diagnosed with, received treatment for, or attended a consultation due to a heart condition, a stroke, cancer, chronic obstructive pulmonary disease/emphysema, dementia, liver failure or a terminal illness
  2. Whether in the last 5 years you’ve been diagnosed with, received treatment/medication for, or attended a consultation due to any of the illnesses listed above.

If you’re in good health, then answering these questions could be beneficial as you could be eligible for a larger pay out and a shorter waiting period without having to pay a higher premium.

At Reassured, over 50s life insurance starts from just £5 a month and there are no medical questions.

Below we have provided some example monthly premiums from two leading insurers we work with.

Prices are based on a non-smoker, taking out £4,000 of cover:

Age SunLife logo OneFamily logo
50£13.75£12
55£15.48£14
60£17.35£16
65£20.67£20
70£27.36£27
75£38.75£39
80£53.54£65
85£72.29-x

xOne Family only provide cover up to age 80, therefore we can’t display pricing for this age.

Compare over 50s life insurance quotes through Reassured to find your ideal policy at the right price.

Quotes are free, personalised and without obligation.

Can you write National Friendly life insurance in trust?

Yes, you can write a National Friendly over 50s life insurance policy in trust.

Writing your life insurance in trust is a legal arrangement which allows you to place someone you trust in charge of your policy after you’re gone.

They’ll distribute the pay out and ensure it goes to the beneficiary or beneficiaries according to your wishes.

There are several benefits to writing a policy in trust:

  • Avoid or minimise inheritance tax (currently 40% charged on any part of your estate over £325,000)
  • A faster pay out to your loved ones (as the policy would be detached from your estate and wouldn’t need to go through probate)
  • More control over who receives the pay out and when, for example, you could leave some money behind to your grandchildren when they reach a certain age, such as 18

Please note, if you take out National Friendly over 50s life cover and write it in trust, you wouldn’t be able to make an early claim for terminal illness.

At Reassured, we offer a free trust writing service with selected over 50s life insurance policies and can provide all the information you need to make an informed decision.

Get in touch to make the most of our award-winning broker service.

What are the pros and cons of National Friendly life insurance for over 50s?

Weighing up the pros and cons can help you decide if the National Friendly over 50s life insurance policy is the right choice for you and your loved ones.

PROs

  • Simple to apply and secure a policy online or over the phone
  • Higher cover limit available for non-smokers
  • Higher cover limit and shorter waiting period could be attainable for applicants who opt to answer the medical questions
  • You can nominate a beneficiary for them to receive a faster pay out up to £5,000
  • Free 24/7 access to virtual Friendly GP which includes unlimited GP telephone consultations and private prescriptions
  • Terminal illness cover included as standard
  • Can be written in trust to help minimise or avoid inheritance tax

CONs

  • Received a low rating by the experts at Fairer Finance (2 stars) and Defaqto (2 stars), when compared to other policies available on the market
  • Lower eligible age limit for smokers (up to 75) compared to other policies available on the market
  • Lower cover limit and longer waiting period (24 months) for applicants who don’t answer the medical questions
  • Monthly premiums must be paid until you pass way (whereas with some policies, the monthly premium payments are not required after a certain age)

National Friendly life insurance claims

According to their claims team, National Friendly paid out 96% of all insurance claims in 2023.

If you need to make a claim on your over 50s life insurance policy, you can contact the National Friendly claims team in the following ways:

Telephone: 03330146244 (08:00 - 18:00, Monday to Friday)

Email: info@nationalfriendly.co.uk

Write: National Friendly, 11-12 Queen Square, Bristol, BS1 4NT

Save money by comparing over 50s life insurance quotes

This National Friendly life insurance review is an honest guide to their over 50s policy and what it can offer compared to other options available on the market.

The cost of over 50s life insurance and how much cover you can secure will vary greatly between different insurers, so it’s important to compare quotes.

Once you’ve shopped around, you can identify the best deals to suit your circumstances and make a fully informed decision as to which policy is right for you.

At Reassured, we can help you secure up to £20,000 (based on your personal circumstances and budget) to help cover your funeral and other expenses.

We also have an award-winning team on hand to help you choose the right cover and answer any questions you may have, without charging you a fee.

Simply fill in our short online form to receive your free, personalised quotes.

Get Free Over 50s Life insurance Quotes »

Sources:

[1] https://www.defaqto.com/star-ratings/life-protection/over-50s-life-assurance?search=national%20friendly/

[2] https://www.fairerfinance.com/ratings/brands/national-friendly

[3] https://www.sunlife.co.uk/funeral-costs/

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