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5 reasons to consider over 60 life insurance

Over 60 life insurance helps you leave your family with happy memories, not money worries. Here are our top five reasons why over 60s life insurance might be right for you.

What is over 60 life insurance?

An over 60 life insurance policy can help give you and your family peace of mind. If you have the policy for over two years, then your loved ones could receive a cash sum when you die.

Your family might use it to help with funeral costs, put it towards bills or even use it to enjoy a holiday.

It’s rare to see life insurance for over 60s advertised, as it’s usually called an over 50s life insurance policy.

How does over 60 life insurance work?

If you’re looking for over 60 life insurance, there are two options that could work for you.

An over 60 life insurance plan is usually a whole of life insurance policy and covers you for the rest of your life.

Designed with people over 60 in mind, the policies are often affordable and simple to apply. Some policies won’t need a medical to get cover.

With SunLife, as long as you're a UK resident aged somewhere between 50 and 85 then you can get an over 50 plan – you can’t be turned down.

You won’t have the hassle of a medical or need to answer any questions about your health or lifestyle.

So if you’re worried you’ve left it too late or if you smoke or have other health concerns, this type of life insurance could be a good option for you.

Get a quote for over 50s life cover

Is over 60 life insurance right for me?

Over 60 life insurance is about peace of mind. It helps you leave your family with happy memories, not money worries.

Here are our top five reasons why over 60s life insurance might be right for you:

1. To help settle outstanding debts

With the average age of a first-time buyer now standing at 30 years old, it’s not unusual for people to still be paying off debts and mortgages into their later years.

Life insurance can help your partner or children deal with outstanding debts or cover monthly mortgage payments if the worst was to happen.

over 60s couple reviewing their finances

2. To help with funeral costs

Many people choose over 60s life cover to help pay for their funeral.

Whilst no one likes talking about death, putting off key end of life decisions could leave your loved ones having to plan and pay for your funeral.

Not only will it leave them short on cash, but they won’t feel like the decisions they have to make alone will actually be what you would have wanted.

Take a look at the average cost of a funeral in the UK today or use our funeral costs calculator to see what a funeral costs where you live.

3. To leave some money for loved ones or for a cause

For some, over 60s life cover provides a straightforward way to leave some money behind as a gift for children or grandchildren to remember them by.

Some people choose to leave it as a donation to their favourite charity or cause.

grandma sitting on the sofa with her grandaughter

4. Cover through a job may be coming to an end

Some employers include ‘death in service’ as part of their benefits package. Even if you have this, if you’re not far from retirement or you’re leaving your job, it’s a good idea to put your own cover in place.

5. It can still be affordable

Generally, life insurance gets more expensive as we get older. But don’t let this put you off. Life insurance might cost less than you think.

Over 60s life insurance plans can start from less than £4 a month.

wife having a cup of tea with her husband giving her a hug

If your family still rely on you or you have outstanding debts, life insurance can make sense.

It’s not too late to help loved ones feel more prepared for the future – and to enjoy some extra peace of mind yourself.

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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?

Phoenix Life Limited 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. Phoenix Life Limited’s registered office is at 1 Wythall Green Way, Wythall, Birmingham, B47 6WG (registered in England, no. 1016269). 

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).

You can contact us by post at SunLife, PO Box 1395, Peterborough, PE2 2TR or by phone on 0800 008 6060.

If you choose to add Funeral Benefit Option to your Guaranteed Over 50 Plan, Dignity Funerals Ltd arranges and provides the funeral services, registered office: 4 King Edwards Court, Sutton Coldfield, West Midlands, B73 6AP (registered in England and Wales, No. 00041598). Dignity Funerals Ltd is a member of the National Association of Funeral Directors.

Who provides the Funeral Plans?

Dignity Funerals Ltd arranges and provides the funeral services, registered office: 4 King Edwards Court, Sutton Coldfield, West Midlands, B73 6AP (registered in England and Wales, No. 00041598). Dignity Funerals Ltd is a member of the National Association of Funeral Directors.

The life insurance policy that pays for your funeral will be provided by Phoenix Life Limited, trading as SunLife.

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.