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One Family Life Insurance Reviews 2023

One Family are a highly rated UK financial services company, specialising in over 50s life insurance cover. They state on their website they can offer guaranteed acceptance cover from as little as £10 per month. One Family also include terminal illness cover and funeral benefit included as standard.

With 4.6 out of 5.0 stars on TrustPilot and a range of benefits, is One Family the right choice for you?

More about LIFE INSURANCE.

More about OVER 50s LIFE INSURANCE.

About One Family

One Family is a UK based financial services business that was established in 2014. This occurred when two previously existing mutual businesses Engage Mutual and Family Investments merged to form One Family. As a mutual business, there are no shareholders to pay. All profits go back to their members and reinvesting in their products.

In its previous forms, the business has more than 45 years of experience in the UK insurance industry. They began as Family Assurance Friendly Society back in 1975, with a variety of different names being used since then. They launched their first cash ISA product in 1999 and expanded into mortgages in 2016.

One Family Awards

One Family has won industry awards for their financial products and services. This includes awards and ratings such as:

 2023 Defaqto 5 Star rating for Over 50s Life Assurance

Key facts about One Family Over 50s life insurance

Here are some important things you should know about One Family Over 50s life insurance.

  • NO PREMIUMS to pay after age 90, but your cover will continue.
  • GUARANTEED PAY OUTS to help support your loved ones in a difficult time.
  • Policy can be bought between the ages of 50 to 80 years old
  • Most often used to cover funeral expenses, repayment of debts or as a cash gift for your loved ones
  • NO MEDICAL EXAMS NEEDED for acceptance. This is useful if your medical history would make it difficult to be accepted for a traditional life insurance policy.

One Family also claim to offer more than rival Over 50s provider Sunlife with the following information provided on their website.

ProviderAverage pay outFull life cover payablePremiums payableTerminal illness benefit
One Family£5,217After 24 monthsUp to age 90Included as standard
Sunlife£4,815After 12 monthsUntil deathNot included

One Family also include an Over 50s ‘information hub’ on their website, with useful resources about savings, finance and funeral planning.

One Family Life Insurance Policy Summary

Policy typeOne Family Over 50s Life Insurance
Premium optionsGuaranteed (fixed payments that never change)
Cover optionsOver 50s life cover (guaranteed acceptance life insurance)
Coverage typeSingle life.
Terminal illness cover benefitIncluded at no extra cost. This will pay out on diagnosis of an illness with a life expectancy of 12 months or less.  
The policy must have been held for at least 2 years before you are eligible to claim terminal illness benefit.
Waiver of Premium benefitNot included with One Family policies.  
Increasing cover optionYou can choose to buy additional plans to increase your overall amount of cover.  

You can have as many plans as you wish provided:  
Your monthly premiums do not exceed £75
You are covered for £19,382 maximum (£9,326 up to the age of 59)  

Premiums and cover amount can also be requested to be reduced. The policy must have been held for at least 4 years to reduce cover.
Age limits (minimum and maximum ages)Minimum age 50 at policy start.
Maximum age 80 at policy start.
Cover continues until death, but no premiums need to be paid past the age of 90.
Life insurance exclusionsThe full cover amount will not be paid until the policy has been held for at least 2 years (24 months).  
Terminal illness claims must meet the definitions set in the policy documents.

One Family life insurance contact number

If you need to contact One Family about your policy, there are a few ways to do this. They have a full list of FAQs on their contact page, to try and answer any frequently asked questions.

If you need to speak about something else, you can contact them in the following ways.

One Family life insurance phone number

Telephone – 0344 8920 920

Telephone (overseas) – 0044 1273 062412

Email: customerservices@onefamily.com

Opening hours: Monday to Friday 9.00am-7.00pm / Saturday 9.00am-1.00pm

One Family Life Insurance complaints

From time to time, customers may find themselves unhappy with the product or service received from One Family. If you find yourself in this position, you are entitled to submit a complaint.

One Family Life Insurance complaints process

When you submit a complaint to One Family, they aim to resolve it within 5 working days. If they can’t, they will send you a letter acknowledging this and their full copy of their complaints handling procedure.

They will aim to send you a final response within 4 weeks. They will send this or explain why the complaint will take longer to resolve. If there is a 3rd party involved (e.g. Golden Charter who handles Funeral Funding), all details of your complaint will also be forwarded to them.

Find out more – One Family – Complaints handling procedure

One Family Life Insurance UK complaints contact details

Telephone – 0800 028 1112

Email: customerservices@onefamily.com

Opening hours: Monday to Friday 9.00am-7.00pm / Saturday 9.00am-1.00pm

You can submit a complaint to One Family via post by writing to:

Customer Relations Team,

Freepost,

OneFamily,

16-17 West Street,

Brighton,

BN1 2RL

Financial Ombudsman Service

If you are not happy with how One Family has resolved your complaint, you can contact the Financial Ombudsman Service (FOS). They will work to resolve any issues between UK financial services businesses and consumers.

If they believe you have lost money unfairly or been misled, they may choose to award you compensation.

Telephone – 0800 023 4567 (or 0300 123 9123)

Telephone (outside the UK) – 0207 964 0500

Email – complaint.info@financial-ombudsman.org.uk

About One Family life insurance claims

If your loved one has passed away, here are all the details you need to claim on their policy. This will be an understandably upsetting time and One Family will do their best to handle the situation sensitively.

How to make a claim with One Family

To make a claim with One Family you will need to contact them over the phone to start the claim process.

They will ask for a few details about the policyholder. They will also request to see the death certificate of the policyholder before the claim can be paid. Once One Family has received this, they will send back a claims form to be completed and sent back.

One Family may in some cases request to see other documents, such as medical information or a will/proof of probate.

One Family will also follow the same process for terminal illness benefit claims (death certificate excluded). You can submit the terminal illness claim yourself or a loved one can claim on your behalf if preferred.

For a valid terminal illness claim, the policy will need to have been in place for at least 2 years.

Claims contact details

Telephone – 0800 028 1112

One family life insurance benefits

NO LIFE INSURANCE PREMIUMS need to be paid once you reach age 90 but your cover remains in place.

GUARANTEED ACCEPTANCE for any UK resident between the ages of 50-80 years old.

NO MEDICAL EXAMS OR QUESTIONS required as part of your life insurance application.

IMMEDIATE COVER is available in most cases. You also have the option to delay the start of your policy by up to 4 weeks.

PAYS OUT 3X YOUR COVER AMOUNT (SUM ASSURED) if you die because of an accident (accidental death benefit). This applies during the first 2 years of your policy and pays out up to a maximum of £48,000.

PAYS OUT 150% OF YOUR PREMIUMS PAID if you die due to natural causes. This applies within the first 2 years of your policy. Policies don’t pay out the cover amount until the policy has been in place for 24 months or longer.

INCREASING COVER IS AVAILABLE if you take out additional plans. You can take out up to £19,382 worth of cover overall, across multiple plans. The maximum amount of cover for customers under age 59 is £9,326. You can take out as many plans as you wish (premiums can’t be more than £75 per month overall).

NO INCOME OR CAPITAL GAINS TAX will need to paid on your policy pay out. You may still be liable for inheritance tax unless your policy is written into trust. A trust can also be useful to specify exactly who benefits from your policy and even how the money is spent.

RedArc Health Support provides additional support services to One Family customers. This includes qualified advice, terminal illness/bereavement support or information about specialist care.

Funeral Funding Feature is added onto all One Family Over 50s plans. One Family’ s funeral partner (Golden Charter) will choose a funeral director on your behalf. This funeral director will provide a £300 contribution towards the cost of your funeral.

How to cancel your One Family Life Insurance policy

You are able to cancel your over 50s life insurance policy at any time. There are a few key things to think about though before cancelling your cover:

  • You won’t receive back any of the money that you have paid into your plan. The only exception is if you cancel within the 30 day ‘cooling off’ period.
  • You will be left without protection if something were to happen to you.
  • You will likely pay more, if planning to swap to a standard life insurance policy.

If you wish to cancel your policy, you will need to contact One Family by phone or writing to inform them. You can then cancel your direct debit with your bank.

One Family will also include a cancellation form within your policy documents. You can complete and send this form to them at any time.

Cancellation contact details

Telephone – 0800 028 1112

Opening hours: Monday to Friday 9.00am-7.00pm / Saturday 9.00am-1.00pm

Post:

OneFamily,

16-17 West Street,

Brighton,

How much is One Family Life Insurance?

One Family state you can get cover with them from as little as £10 per month. This cost can of course vary from person to person. With most life insurance policies, factors such as medical conditions can affect policy cost.

As One Family Over 50’s life cover is guaranteed acceptance, medical history/conditions won’t be looked. This means unlike with a standard policy, your health will have no effect on the cost of your cover. The main things that will affect the cost of your life insurance will be:

  • Age at the time of application
  • Amount of cover needed (£s)
  • Smoker status (smokers will usually pay more)
  • If you want to increase your cover amount later (buy additional plans)

Should I buy over 50s life insurance?

There are pros and cons to over 50s life insurance, compared to traditional term life insurance. Over 50s life cover can be a great choice in certain situations. For example, guaranteed acceptance can be useful for anyone with significant medical issues who would otherwise struggle to get cover.

ProCon
Guaranteed to be accepted for cover if you are between the age of 50-80 years old and are a UK residentInflation can decrease the value of your policy if funeral costs increase over time
Fixed monthly premiums so the price never changesMight pay in more than you get out, if you take out your cover when you are only just over 50
FREE cover after age 90 with One FamilyWaiting period before your policy will pay out the full cover amount (One Family require you have the policy for 24 months before it will pay out)
Option to increase cover by adding additional policies (premiums cannot be more than £75 per month across all policies)Limited cover amount (cannot be covered for more than £19,382 maximum)

How to buy One Family Life Insurance

You can either buy your policy directly through One Family’s website or via an experienced life insurance expert.

Our team have more than 20 years of expertise and can help you sort your life insurance quickly and hassle free. We can also compare a range of available quotes across the market. This helps us to make sure One Family is the best choice for your cover.

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