Although it isn't the most popular subject to discuss, life insurance is something everyone, especially those over fifty, should consider. It delivers security for your family and those you care about and ensures your own peace of mind for the future. With that in mind, it's important to be informed of your options when choosing a policy.

Over 50s life insurance: what are my options?

An advantage to an over 50s policy is eligibility: if you are over 50 you qualify. This means no invasive questions or awkward medical examinations. While your lifestyle may be taken into account, proof of age is the most important part of the process.

Payout for over 50s life insurance is guaranteed in the event of your death. Once you commence the policy, you won't be able to take out the money until that time - and only your beneficiaries will be able to access the money. The amount paid out in the event of your death is based on the contributions you make in your monthly premiums and it's advisable to pay those premiums without default to ensure the policy remains valid. If you do default, you run the risk of losing any benefits.

Obviously, the longer you pay premiums, the higher the eventual payout will be. While this does take into account how long you live, once you reach 85, you won't be required to contribute any more to the policy - yet still enjoy the same level of coverage. This kind of benefit is only available as part of an over 50s policy.

Why should I take out a policy?

Aside from the benefits to you and your family, there are numerous advantages to taking out an over 50s life insurance policy, making it preferable to other types of life insurance:

Duration: unlike other types of life insurance and over 50s policy lasts for the length of your life.

Guaranteed payout: if you suffer a natural death within the first two years of taking out the policy, your benefits will be paid out in full.

Cheaper: other types of term life policies often involve higher premiums because of the higher risks associated with them. This is not the case with over 50s life insurance.

Over 50s life insurance policies aren't expensive. Deposits can start as low as £8 a month - and don't exceed £50, making it easy for older customers to continue payments - even when relying on pensions. Over 50s policies are protected, no matter how poor the economy: your premiums will never change - nor will your level of coverage.

Important points to consider:

Important factors influence the amount you can expect pay in premiums.

· Smokers: rates are different for smokers and non-smokers.

· Gender: rates differ between males and females for a number of reasons. Male smokers, for example, are considered at much higher risk than females.

· Age: older customers, at higher risk, can expect higher premiums than younger customers.

When you take out a policy, make sure you understand how your status will affect the premiums or benefits you may receive.