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  • How does life insurance work?

    SunLife’s Family life insurance is a straightforward and affordable way to make sure some money will be there to support your family if you died unexpectedly.

    Money that could be used to pay the mortgage, household bills and the everyday small things that mean so much, like football training and ballet lessons.

    Anyone aged 18-59 and resident here in the UK can apply. You don’t need a medical. You simply answer some health and lifestyle questions to find out instantly whether you qualify for Family Life Insurance.

    How SunLife family life insurance works

    Video transcript
    How does Life Insurance work?

    There are some things in life we can’t control. But life insurance could ensure your loved ones are left financially taken care of if you died unexpectedly.

    Life insurance works by paying out a lump sum of money if you die. Your loved ones could use this money to carry on living as they do now, paying things like the mortgage and everyday bills. Or even the weekly shop or it could simply enable your children to carry on having their ballet lessons or football training.

    Meet Matt. Matt’s wife Karen died when their children were 1 and 5. Karen did everything for the house and took care of the children whilst Matt was hard at work. Unfortunately Karen didn’t have life insurance and Matt struggled to cover the cost of childcare and the lifestyle they had; so he has had to change his working hours and cut back on life’s little luxuries like family holidays and days out for the kids. These changes, on top of losing Mum, have been really impactful. If Karen had life insurance to cover things like childcare, kids clubs and small luxuries… things would have been easier.

    It’s up to you how long you’d like cover for. Perhaps when your mortgage ends or when your children no longer rely on you for financial support. For your life insurance, you’ll pay a monthly payment. This premium will depend on the amount of cover you’d like, your age, health and lifestyle and how long you’d like the cover for. This is known as the ‘term’. Life insurance could often be more affordable than you think.

    The way our life insurance works is simple

    Here are some typical examples of life insurance in action.

    Adam received a life insurance payout of £130,000

    Meet Adam

    Adam’s wife Helen passed away leaving Adam and two children. Helen had been a busy stay at home parent doing all the things demanded by a young family. Adam works full time and now needs help with childcare so he can continue to earn enough to support his family.

    Luckily, when she was 38, Helen had taken out life insurance. She chose a term of 10 years to cover the time her children had left at school, and paid a £10 premium every month. She was in good health when she applied and didn’t smoke.

    When she sadly died 7 years later, her family received a cash payout of £130,000. This gave Adam the financial security to get the help he needed with childcare and meant the family could carry on doing the things they enjoyed.

    Sue received a life insurance payout of £250,000

    Meet Sue

    Sue’s husband Tom passed away leaving Sue with one child. Sue and Tom both worked full time and relied on both their incomes to pay the mortgage on the family home.

    This was the main reason Tom took out life cover when he was 35. He chose a term of 10 years to cover the period his daughter was likely to be living at home and a cash payout big enough to pay off a large chunk of the mortgage. When he applied he was in good health and a non-smoker. He paid a premium of £13.21 every month.

    When Tom sadly died 5 years later, Sue received a cash payout of just under £250,000 which helped them to maintain their lifestyle in the family home.

    All figures correct as at 23/09/2016

    What you need to know about SunLife's Family Life Insurance

    Family Life Insurance is provided by Scottish Friendly.

    If you don’t pay your premiums every month throughout the term, you won’t be covered any more and you won’t get any money back.

    The amount of your payout will depend on your age, the premium and the term you choose and your answers to the health and lifestyle questions asked when you apply.

    The payout is a fixed amount of money, so inflation will reduce how much it will buy in the future. You can be sure your cash payout will never go down so you know exactly how much would be there to support your loved ones.

  • SunLife offers a range of straightforward and affordable products including over 50s life insurance, funeral plans, life insurance, pet insurance, car insurance, home insurance, ISAs and Will writing services.

Here's the information that you need to know about who we are and the other companies that we work with in order to provide our products and services.

Who are SunLife?

AXA Wealth Ltd trades as SunLife and is the provider of the Guaranteed Over 50 Plan, SunLife Insurance and the life insurance policy payment option for Funeral Plans. AXA Wealth Ltd is a company limited by shares and the registered office is at 1 Wythall Green Way, Wythall, Birmingham B47 6WG (registered in England, No. 01225468). AXA Wealth Ltd is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. AXA Wealth Ltd is entered on the Financial Services Register (registration no. 119201).

SunLife Limited distributes financial products and services and is a company limited by shares, registered office: 1 Wythall Green Way, Wythall, Birmingham, B47 6WG (registered in England, no. 05460862). SunLife Limited is authorised and regulated by the Financial Conduct Authority and is entered on the Financial Services Register (registration no. 769427). 

‘SunLife’ (comprising of the companies AXA Wealth Services Limited, AXA Wealth Limited and AXA Sun Life Direct Limited) has been acquired by Pearl Life Holdings Limited (and now forms part of the Phoenix Group – www.thephoenixgroup.com). ‘AXA’ is a trademark that is owned by AXA SA and will be used for a short period under a licence granted by AXA SA to the Phoenix Group.

Pearl Life Holdings Limited is registered in England (4560778) at 1 Wythall Green Way, Wythall, Birmingham B47 6WG. As part of the Phoenix Group, AXA Wealth Limited will continue to be authorised by the Prudential Regulation Authority and regulated by Prudential Regulation Authority and Financial Conduct Authority. AXA Wealth Services Limited will continue to be regulated by the Financial Conduct Authority.

You can contact us by post at SunLife, PO Box 7054, Willenhall, WV1 9ZH or by phone on 0800 008 6060. As part of our commitment to quality service and security, calls may be recorded.

If you choose to add Funeral Benefit Option to your Guaranteed Over 50 Plan the funeral services are arranged and provided by Dignity Funerals Limited. Dignity Funerals Limited is a company registered in England and Wales No. 00041598. VAT registered No. 486 6081 14. 4 King Edwards Court, King Edwards Square, Sutton Coldfield, West Midlands, B73 6AP. Telephone No. 0121 354 1557. Fax No. 0121 355 808. Part of Dignity plc. A British Company. Dignity are not regulated by the Financial Conduct Authority or the Prudential Regulation Authority but are registered providers with the Funeral Planning Authority.

Who provides the Funeral Plans?

The funeral services are arranged by a funeral director selected by Golden Charter Ltd. Golden Charter Ltd are not required to be authorised or regulated by the Financial Conduct Authority or the Prudential Regulation Authority in relation to funeral plans but are registered providers with the Funeral Planning Authority.

If you choose to pay for your funeral in one go, with a single payment, you will have a contract with Golden Charter. The funeral services will be arranged by a funeral director selected by Golden Charter Ltd.

If you choose to pay for your funeral with a life insurance policy, the policy will be provided by AXA Wealth Ltd, trading as SunLife. The funeral services will be arranged by a funeral director selected by Golden Charter Ltd.

Who provides My Smarter (ISA)?

My Smarter (ISA) is provided by Scottish Friendly Asset Managers Limited. Authorised and regulated by the Financial Conduct Authority. Details can be found on the Financial Services register, registration No. 188832. Member of The Investment Association. Registered Office: Scottish Friendly House, 16 Blythswood Square, Glasgow G2 4HJ.

Who provides the Will writing services?

Hugh James is authorised and regulated by the Solicitors Regulation Authority (SRA Number:303202).

The information contained on this website is based on Hugh James' understanding of the law of intestacy in England and Wales only as at April 2014. The law in Scotland and Northern Ireland is significantly different. This is for information purposes and is not intended to be legal advice.

Who provides Family Life Insurance?

SunLife Family Life Insurance is provided by Scottish Friendly Assurance Society Limited which is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Details can be found on the Financial Services register (registration number 110002). Registered Office: Scottish Friendly House, 16 Blythswood Square, Glasgow G2 4HJ. 

Who provides SunLife Pet Insurance

SunLife Pet Insurance is arranged and administered by BDML Connect Limited. BDML Connect Limited is authorised and regulated by the Financial Conduct Authority (No. 309140). Registered in England and Wales Number 02785540. Registered Office: 45 Westerham Road, Bessels Green, Sevenoaks, Kent, TN13 2QB.

Who provides SunLife Home Insurance

SunLife Home Insurance is arranged and administered by BISL Limited and underwritten by a panel of insurers. BISL Limited are an intermediary authorised and regulated by the Financial Conduct Authority. Registered in England no. 03231094. Registered office Pegasus House, Bakewell Road, Orton Southgate, Peterborough PE2 6YS.

Who provides SunLife Car Insurance

SunLife Car Insurance is arranged and administered by BISL Limited and underwritten by a panel of insurers. BISL Limited are an intermediary authorised and regulated by the Financial Conduct Authority. Registered in England no. 03231094. Registered office Pegasus House, Bakewell Road, Orton Southgate, Peterborough PE2 6YS.