Life cover or life insurance for people over 50 is designed to provide financial security and peace of mind to individuals in their later years. It typically offers a lump sum payment to beneficiaries upon the policyholder's death, which can be used to cover expenses such as funeral costs, outstanding debts, or even provide an inheritance. Premiums for life cover may be higher for older individuals, but many policies do not require a medical exam or extensive health screening. It's important for individuals over 50 to consider their unique circumstances and financial goals when selecting a life insurance policy.