One Family Life Insurance Review For 2024

Elaine Brookes Steve Case

Author: Steve Case - Insurance Expert

Reviewed & Fact Checked By: Elaine Brookes

Updated: 31st December 2023

one family life insurance

Engage Mutual originated in 1995 and merged with Family Investments in 2015, at which point they changed their name to OneFamily.

At Insurance Hero, we can compare a variety of other market leaders to ensure you get the best deal. Using our services, we can measure One Family Life Insurance policies against leading companies, ensuring you get a made-to-measure life insurance solution.

Reasons To Consider Getting A Quote Today:

  • Affordable and comprehensive insurance for all ages
  • Get a fast & free quote without needing to travel to an office
  • Secure life insurance and save your money on one of the most important requirements in life
  • No obligation to proceed after getting a life insurance quote
  • A broad selection of coverage choices for different lifestyles, which include critical illness cover
  • Flexible coverage on whole life insurance plans
  • No need to wait around or locate life insurance quotes from multiple vendors because we offer the best deal coverage for all your needs
  • We’ll explain the average cost of life insurance cover and what suits your budget despite your current income

See How One Family Life Insurance Plans Compare Against The Leading Life Insurance Companies – Quick Quote Form

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  • Our price match promise means we will find you the right cover for your personal circumstances at the lowest price possible. Terms & Conditions and Privacy Policy

one family life insurance reviews

One Family Life Insurance remains a mutual organisation, meaning it doesn’t have shareholders to pay dividends to each quarter.

It’s run for the benefit of its members. Another insurer in the mix is Staysure, headquartered in the UK, with offices in Europe too. They’ve built a name for themselves as the experts in the Over 50s market.

One Family Life Insurance is partnered with Staysure to provide that insurance plan. So, you could say that in a way, it’s OneFamily who are the experts.

The Over 50s Guaranteed Life Plan from OneFamily isn’t something that sprung up out of thin air a few years back. They’ve been around since 1995 and have partners throughout the UK and Europe who know the Over 50s market.

So, there is an element of trust there, given they have been around for a while. You’ll have limited information if you try to research the firm OneFamily online.

For research purposes, you’d need to delve into Engage Mutual, Staysure, and OneFamily. They’ll have been around and trading under some name, likely before you got home broadband and a Wi-Fi-enabled smartphone.

To save you the hassle of digging up twenty-odd years of information, we’ve gone through what OneFamily is offering and detailed it here in this review.

one family life insurance quotes

One Family Life Insurance Reviews: Why It Is Worthwhile Considering OneFamily Over 50 Life Cover Plus

  • It’s a Whole of Life insurance plan. Not term insurance, so policyholders are guaranteed a cash sum pay-out when they die.
  • Another guarantee is acceptance. There’s no medical, and they won’t even ask health questions. Apart from the obvious, do you smoke? We all know that’s going to hike prices.
  • Terminal illness cover is built-in. If you are terminally ill, you have the option to claim the full cash value of your policy before you die.
  • Should you become seriously ill but not terminal, you can claim 20% of your cover.
  • If you’re involved in a fatal accident, the cash sum that would be paid gets tripled.
  • Full support services are provided to customers free of charge.
  • You stop paying premiums at the age of 90 (Remember the One Family Over 50s Plan is a Whole of Life Policy).
  • Buy online, and you’ll get a 5% discount.

The points above are key differentiators for One Family Life Insurance compared to most other life insurance providers.

one family over 50s

What choices are available for increasing the coverage amount with additional plans?

To increase the cover amount, you can take out additional plans. Doing so allows you to access up to a total of £19,381 worth of cover across multiple plans.

However, it is essential to note that customers under 59 have a maximum cover limit of £9,324. There is no limit to the number of plans you can take out, but it is essential to ensure that the premiums for all plans combined do not exceed £75 per month.

The Smaller Things that OneFamily Will Throw in to Sweeten the Deal

There are some nice sweeteners OneFamily Insurance has for their customers.

OneFamily Insurance & Free Care Advice For The Elderly

This is handy for those over 50 and caring for elderly parents, relatives, friends or others in your home. Anyone over 50 working as a carer for someone elderly would likely find it nice to have a support line to call for advice any time you’re unsure about something. Especially considering it’s free.

Free advice on Will Writing

Many a person wouldn’t know where to start to write a Will. Once that’s done, the majority likely wouldn’t know the next step. There are Will writing services, but how do you get recommendations for them when the people who have used them aren’t around to tell you of their experience?

Through advice services from those who work in the industry.

Ongoing support and advice service free to those diagnosed with a serious or terminal illness.

It’s nice to know that if you do take ill, there’s a support service there.

Bereavement help when your family needs it!

When you do go, OneFamily has bereavement advice services available. They don’t just send a bunch of money and close your account. They’ll follow up and offer bereavement support or even just provide that listening ear as your family goes through the bereavement process.

The big one: Advice on legal matters

It’s not every day that someone suffers the loss of a loved one, so they are going to need some help to navigate the process. What to do, where to go, who to phone, etc.

OneFamily Insurance has support services to help advise and guide people if needed.

one family over 50s adviser

One Family Insurance. The Not So Clear Parts Cleared Up

  • The OneFamily Insurance Over 50s Guaranteed Plan has an age cap of 80. You must be between the age of 50 and 80 to be eligible.
  • While cover starts from £8 per month, it can be as high as £75 per month, depending on your situation and the amount of insurance you want covered for.
  • Full cover only begins after you’ve been on the Over 50s plan for two years. Should your death happen within the first two years of taking out the policy, the cash sum won’t be paid, but instead, OneFamily would pay 150% of the amount paid to them.

The Temptation of a Free £250 boost to your family’s cash pay-out

When taking out a OneFamily Over 50s Guaranteed Life Cover Plan, customers are given the option to add for free an extra £250 Funeral Funding Option. Sounds enticing, and most likely wouldn’t bat an eyelid.

Yes, please. I’ll take that, thank you very much. But the catch is that the £250 is paid directly to the Co-Operative Funeralcare to cover the cost of your funeral. That ties your family into an agreement that the funeral will be through the Co-Operative.

OneFamily Insurance operates a funeral care plan where you can pay the cost of your funeral and make your own plans. With this extra £250, you don’t get to make your own funeral arrangements, but you do get the promise that it’s the Co-Operative who will receive the £250 and whatever it costs for your funeral, that’s the company your family pay.

In 2016, the Guardian newspaper researched the cost of funerals with funeral plan providers and compared those with Independent Funeral Directors in two cities—Glasgow for Scotland and London for England.

Here’s what they found…

onefamily life insurance

In both cases, two of the largest funeral plan providers charged more than a local independent Funeral Director would have charged; therefore, think carefully about whether you want to commit your family to a service. The £250 will not go to your family.

It’s paid directly to the Co-Operative to put toward the funeral cost. Judging by the figures above, it will likely cost them more.

One other point about the funeral benefit option

Do not assume that because the topic of funerals is brought up it’s included in your cover. It’s not.

Whatever cash is paid out to your family from your life insurance policy, some of it will need to be used to pay for funeral costs. It is possible that you may not have enough insurance to cover that expense, in which case, your family would be required to pick up the cost.

Other points of note:

  • The cash paid out from your policy is not protected from inflation.

The cash sum of your policy does not take into account inflation. If you take the policy out at the age of 51 years old and live until the age of 85 years old, things will be a lot more expensive at that point.

Consider this:

From 2016 to 2017, the Royal London National Funeral Cost Index reported funeral costs rose by 3%. In that same period, inflation rose by 2.6%. If that trend continued for 34 years, it would cost a lot more.

  • If you miss a payment, you will lose your cover.

This is another guarantee. For your policy to remain active, your payments must be kept up. It’s the same with all insurers, but for Over 50s plans, consider that with OneFamily, quotes start low but can go as high as £75 per month, so take your time before agreeing to the policy. Think it through, and get advice if you’re unsure about anything.

  • You may need to consult a tax advisor.

Depending on the amount of your cash sum pay-out, it could be subject to inheritance tax. To avoid your family paying a huge chunk of their money to HMRC, you may need to cough up to pay for a tax advisor to make arrangements for your estate so that the insurance money is paid out tax-efficiently.

In Conclusion:

We hope you have found our One Family Life Insurance reviews helpful. The OneFamily Over 50s Life Cover Plus Plan has a few things different going for it.

  • The serious illness cover allows the option to claim 20%
  • A critical illness component allows you to cash out your whole of life cover for the full amount of your cash sum if you’re diagnosed with a terminal illness
  • If you’re involved in a fatal accident, the cash value is tripled

The only drawback would have to be transparency. The funeral benefit option is framed as a benefit when that’s highly based on where you live. Chances are, your family would wind up paying more than the £250 being offered from OneFamily to pay the Co-Operative.

If you’re looking for family life insurance cover, one of the things you may be wondering is what happens if you die. What will your loved ones receive? How will they be able to manage without your income? One of the benefits of a life insurance payout is that it can help provide financial security for those you leave behind.

This can help reduce the disruption and chaos that often follows when someone dies suddenly. In addition, many people underestimate how much their survivors rely on them financially. A life insurance payout can help compensate for this loss and allow your loved ones to continue living comfortably after your death.

Are you ready to learn more about how a life insurance payout could benefit your family? Feel free to complete one of our simple forms to get free quotes today from some of the UK’s top life insurance providers.

Further Information:

Customer Services
OneFamily UK
16-17 West Street

Visit The Website

Company number: 08492255

Customer services phone: 0800 085 0700

Overseas customer services phone: +44 1273 062 512

Claims phone number: 0800 028 1112