What is over 50s life insurance?
Over 50 life insurance is a popular way to help cover funeral costs or leave a cash gift for loved ones.
And SunLife's is the most trusted, most affordable plan of all.
You pay a little each month and get a cash payout when you die. The average payout is over £4,000.
The UK's favourite
Our over 50 life insurance also comes with a combination of benefits no-one else gives you, including:
with no lifestyle questions
(we pay 100% of claims)
Spend at M&S, Argos
& Boots plus thousands more
SunLife over 50s life insurance reviews
Over 799,0005 customers have chosen SunLife’s plan to help them leave a cash payout for their loved ones.
With over 200 years’ experience we know what makes great service. That’s why we’re a Feefo Gold Trusted Service Provider for the fourth year running.
But don’t take our word for it, see why people like you have given us 4.8 stars for our service. Based on 5208 reviews over the past year.
Read more about over 50 life insurance
Our best tips and tools will help you consider over 50s life insurance and plan for your future.
Join over 799,000 people in the UK who've taken out a SunLife plan
Compare our over 50s plans
Our over 50 plans are both popular ways to help pay for funeral costs. To help decide what best suits you, here's a simple table showing the key features of our two popular plans.
|Guaranteed Over 50 Plan||Guaranteed Funeral Plan|
|Gives a guaranteed cash payout||Guarantees to cover the cost of your chosen funeral services|
|Premiums never rise||Stop paying at age 90 but keep your cover|
|The UK's most affordable over 50s plan2||Comes with guaranteed financial protection3|
Frequently asked questions
A: Our Guaranteed Over 50 Plan works by paying out a fixed cash sum to your family when you die.
When you take out a SunLife plan, you’re immediately covered. Once you’ve had your cover in place for a year, the full cash sum will be paid out on your death.
If you die within the first year, we’ll pay out all the premiums paid in.
plan cost me?
A: Based on your age and the premium you choose, the SunLife plan could cost you anything from £3.70 to £74 a month.
You can choose any monthly payment you wish. But your life cover cannot exceed £18,000 across all your SunLife plans.
Depending on how long you live, you could pay in more than we pay out.
ever go up?
A: No. One of the best features of our plan is that we guarantee to never increase your premiums.
A: No, we won’t ask you to take a medical or access your records. And we won’t ask you any questions about your health.
A: Unfortunately, we don’t offer joint policies, but your partner can also take out a plan in their name if they wish to.
than one plan?
A: Yes, you can have multiple plans. But your monthly payments can’t be more than £100 a month and your total life cover cannot exceed £18,000.
Please be aware that you could get a lower total sum assured from several separate plans. This means that your sum assured could be higher if you take out a single plan for the same total monthly premium.
A: You’ll pay your chosen amount every month for life, so it’s important you choose an amount you can afford.
You should also bear in mind that, depending on how long you live, you could pay in more than the cash payout.
If you choose PayStop, which is our premium cap option, then you will pay for the agreed length of time.
A: After you have paid your first premium, you may request that your future premiums are reduced. This will also reduce the cash sum amount.
You can only reduce your premiums once and when completed, it cannot be undone or altered. The lowest amount you can reduce your premiums to is the minimum level that was available when you purchased your policy.
For more information read our terms and conditions including the policy summary (PDF)
When choosing your premium, it’s important to pick a monthly payment that you can afford. If you stop paying, your cover will be cancelled and you won’t get anything back.
A: You'll receive your FREE £110 gift card after you've made 6 monthly payments. It's yours to spend across thousands of high street stores including M&S, Argos and Iceland. Full terms and conditions apply.
A: Since 1st January 2018, the monthly SunLife Big Cash Draw has given customers the chance to win £10,000. Each valid policy held by a customer counts for one entry. From 1st March 2020, we will stop offering the monthly prize – and instead be offering the chance to win £50,000 as part of a single annual prize.
Any customers who opt-in from the 1st March 2020 until the close date of 28th February 2021 will be entered into the single £50,000 Draw, along with any valid existing entrants since 1st January 2018.
The Draw will take place within ten working days after the close date and the winner awarded £50,000. More details can be found at sunlife.co.uk/win.
A: If you add the Funeral Benefit Option to your plan, your family will receive an extra £250 towards your funeral – at no extra cost. So if your SunLife cover is to contribute towards funeral costs, this could be a way to lend an extra helping hand.
It’s simple – when you pass away your cash sum will be directly to Dignity Funerals Limited. A Dignity Funeral Director will help your loved ones make all the arrangements and Dignity will contribute an extra £250 towards your funeral bill.
Dignity Funerals Ltd have over 800 funeral directors nationwide, so they could be just on your local high street. You can only have one Funeral Benefit Option at any time across all plans with any provider.
It’s important your loved ones know you have chosen this. Otherwise they may not find the details until after your funeral has been arranged and they won't receive the £250 contribution from Dignity.
A: Accidental Death Benefit means that if you die from an accident or as a result of your injuries, within the first year of taking out your plan, you’re still covered, and we’ll give your loved ones the full payout.
A: Inflation simply means that prices go up over time. Ever noticed how your money doesn't go as far as it used to? That's probably down to inflation.
For example, in 1980 you could buy nearly three loaves of bread for £1, but today you would be lucky to buy one.*
Inflation will reduce the buying power of your cash payout over time. When taking out your cover, you should think about whether it will continue to meet your needs in the future.
*Source: Office of National Statistics (as at July 2018) Crown copyright material is reproduced with the permission of the Controller of HMSO
A: You’re free to cancel your Guaranteed Over 50 Plan at any time by writing to us.
If you cancel less than 30 days after you receive your policy documents, the monthly payments you’ve made will be refunded.
If you cancel or stop paying your premiums at any other time, your insurance will end and you won't get anything back.
Before taking out a plan, it’s important to be sure it’s best suited to your needs. You should also be comfortable with the monthly cost you commit to.
A: Making a claim is simple and our staff will do everything they can to make sure things run smoothly.
When the time comes, your loved ones just need to call our friendly UK-based team on 0800 008 6060. Or, they can write to us and we’ll help with the rest.
If you would like to make a claim in writing, please address it to PO Box 1395, Peterborough PE2 2TR.
If you’ve chosen the Funeral Benefit Option, they’ll need to contact Dignity Funeral Ltd directly.
A: The plan has no cash-in value at any time, so if you cancel your plan you wouldn’t get anything back.
friend to SunLife?
A: As a customer, you can refer your friends and family – and get a £100 gift card as a thank you. Just make sure your friend applies over the phone as they'll need to quote your unique referral code found in the packs we send you. Both gifts will be sent after your friend has made 6 premium payments. See full T&C's for more information.
The smallest print
This website contains information on how the Guaranteed Over 50 Plan works. We haven’t given you any advice but you need to be satisfied this type of policy meets your needs. If you are unsure and need advice, please visit unbiased.co.uk to find an Independent Financial Adviser in your area (you may have to pay for the financial advice provided). If you have any questions about the plan, you can call our UK team on 0800 904 7674.
1. More people trust us with their over 50s life cover than any other provider. SunLife has 64.1% market share of all whole of life guaranteed acceptance plans bought directly. Source: ABI statistics issued in November 2019 for 12-month period to 30th September 2019 based on new Phoenix Life policy sales trading as SunLife.
* Gift sent after 6 months’ premiums paid. Biggest gift card ever for new customers. We reserve the right to withdraw this offer at any time. Full terms and conditions apply
2. SunLife offers the lowest monthly premium option of £3.70, making it the most affordable way to take out over 50s life cover.
3. The life cover which pays for the funeral comes with FSCS protection.
4. One bought every 5 minutes based on new policy sales for 12 month period to 30.05.2019.
5. 799,866 policyholders as at 16.12.2019
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 is not authorised or regulated for this activity by either the Financial Conduct Authority or the Prudential Regulation Authority. 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 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.