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Later life and dementia insurance

Extend your plan to help cover the costs of later life conditions like dementia, Alzheimer’s, and Parkinson's.

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In the UK, we’re living longer than ever before

  • By 2030, the average life expectancy is expected to reach 90 (Imperial College London, 2017)
  • Someone is diagnosed with dementia every three minutes
  • By 2025, there will be one million people suffering with dementia (alzheimers.org, 20211)
  • The average cost of care for someone with dementia is £100,000 (Alzheimer's Society, 20211).
Despite these figures, few insurers offer cover to help pay for it. That's why we created Later Life Options, to support with the financial impact of later life.

How does later life and dementia insurance work?

When you buy Serious Illness Cover with us:

  • you automatically get Dementia and FrailCare Cover as standard
  • when your plan ends, Dementia and FrailCare Cover begins*
  • continue to pay your premiums

If you’re diagnosed with dementia, Alzheimer's, Parkinson’s, stroke or frailty, we’ll pay you a lump sum. The payment you’ll receive is based on the severity of your condition. This means you could get more money if your condition gets worse.

*When Total Permanent Disability isn't excluded

What you get with Dementia and FrailCare Cover

Our unique Dementia and FrailCare Cover ensures you stay protected into later life and help to cover rising care costs. Our cover can also help support your independence in later life.

  • Any remaining Serious Illness Cover will be automatically converted at the end of the term, just continue to pay premiums 
  • Up to £100,000 can be taken as Dementia and FrailCare Cover based on the product options selected (subject to changes in cover with Indexation)
  • No extra underwriting is needed, and you can cancel at any time
  • Payouts are based on the severity of your condition, so you could be entitled to further payouts if your condition worsens

Why choose our later life and dementia insurance?

✓ 5 Star rated cover
✓ A brand you can trust – last year, we paid out 99.7% of all life cover claims (Vitality Claims and Benefits Report, 2023)
✓ Discounts and rewards for healthy living – save money on gym fees, activity trackers, sports shoes and more
✓ Access discounted care – we’ve partnered up with SuperCarers to give you 20% off the first £3,000 of ongoing care
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Relevant guides and articles

  • Serious and critical illness cover

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    Serious and critical illness cover pays out a lump sum if you’re diagnosed with a serious condition. The condition may not be life threatening, but it still impacts your life. 

    Serious and critical illness cover explained

  • Life insurance premiums

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    How are life insurance premiums calculated? Here’s everything you need to know about premiums, how they’re calculated and things to consider. 

    Life insurance premiums explained

  • Life insurance and funeral planning

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    Read our guide to life insurance and funeral cover, here. Learn about the policy options available, costs of a funeral and ways of paying for the ceremony.

    Life insurance and funeral planning explained

Later life and dementia insurance FAQs

Do I need later life insurance?

Dementia care can be up to 40% more expensive than standard social care. The typical cost for one person is £100,000 (Alzheimer's Society, 20211).

If you’re concerned about paying this, later life and dementia insurance could help.

Can you get insurance against dementia?

Serious and critical Illness cover can help reduce the financial impact dementia can cause. You’ll receive a tax-free lump sum that can be used for anything, like treatment and household bills.

Is dementia classed as a critical illness?

Yes, dementia is classed as a critical illness. 

Does life insurance pay out for dementia? 

Life insurance pays out to your loved ones when you pass away or are diagnosed with a terminal illness.

If you pass away due to dementia, your life insurance policy will pay out. If you’re diagnosed with dementia, your life insurance won’t pay out because it’s not classed as a terminal illness.

This is when critical or serious illness cover would pay out.
Sources

1 www.alzheimers.org.uk/blog/how-much-does-dementia-care-cost