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Over 50 life insurance is an affordable way to get a guaranteed cash sum when you die – which could help cover your funeral costs. You choose the monthly premium you’re comfortable paying for life (we guarantee this will never rise) and your loved ones are guaranteed a payout when you die. SunLife has the UK's most popular plan, with one bought every five minutes.
Over 722,000 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 just take our word for it, see why people like you have given us 4.8 stars for our service. Based on 3954 reviews over the past year.
If you’re thinking about over 50s life insurance, you’ll want to understand how it works and what it means for you and your family. Our articles and guides are a great place to start, so why not relax and have a read?
Our over 50 plans are both popular ways to help pay for funeral costs.
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|
None of us want to leave our family and friends worrying about funeral costs and unexpected bills when we’re gone. That’s why SunLife have the Guaranteed Over 50 Plan, to help you leave a cash payout when you’re gone that could mean a lot to the people you care about most. They could use this to help pay for your funeral or any outstanding bills that could arise from end of life care and settling your estate.
Over 50 life cover is an affordable way to leave a guaranteed cash payout to your loved ones when you die. They can use this however they wish, and it could help with funeral costs, pay off outstanding debts or bills, buy a treat to remember you or as a gift for your grandchildren.
The SunLife plan starts from £3.70 a month – up to a maximum of £74. Depending on how long you live, you could pay in more than we pay out. You can choose any monthly payment you wish, as long as your life cover doesn’t exceed £18,000 across all your SunLife plans.
Please see our FAQ on Premium Cap Option for specific details on how stopping your premiums early will affect your monthly payment.
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 the Premium Cap Option then you will pay for the agreed length of time.
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 on this policy and when completed, it cannot be reversed or altered. The lowest amount you can reduce your premiums to is the minimum level that was available when you purchased your policy. More information is available in our terms and conditions including the policy summary (PDF)
It’s important that you pick a monthly payment you can afford – because if you stop paying, your cover will be cancelled and you won’t get anything back.
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.
Yes, we don’t ask you anything about your health or habits, so you’re guaranteed to be accepted as long as you’re aged 50 - 85.
Yes, you can have multiple plans. However, the total of your monthly payments for all your policies can’t be more than £100 a month – and your total life cover cannot exceed £18,000. Please be aware that if you take out several plans that add up to your total monthly premium, you may get a lower sum assured than if you took out a single plan for that same total monthly premium.
If you add the Funeral Benefit Option to your plan, your family will receive an extra £300 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 £300 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 £300 contribution from Dignity.
Unfortunately, we don’t offer joint policies, but your partner can also take out a plan in their name if they wish to.
Yes, we’d love to help your friends and family too. You’ll even get a £100 gift card for referring us.
Anyone aged 50-85 is guaranteed to be accepted for our over 50 life insurance.
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.
If you die within the first year of having your plan, as a result of an accident, you're covered by the Accidental Death Benefit and your family will get the full cash payout. This also covers your death from injuries 90 days after your accident.
Yes, your plan covers you when you’re on holiday.
Yes, as long as you are a UK resident when you take out your plan you are still covered if you decide to move abroad.
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.
No, the plan does not cover critical illness as it pays out on death.
The plan is not protected from the effect of inflation and will not increase over time, so please ensure you allow for this when choosing how much cover you would like.
The maximum monthly premium available is £74 for one plan and if you take out multiple plans you cannot have premiums that total more than £100 a month.
Total cover is limited to £18,000 across all plans taken out.
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.*
You should think about whether the fixed cash payout you choose today will cover what you would like it to in the future as inflation could reduce how much it could buy 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
Each year we’ll send you a statement with details of all your plans, so you’ll know how much will be paid out when you pass away. This will include all details about any added extras like the £300 Funeral Benefit Option.
Or you can call us on 0800 008 6060 and our friendly UK team will help you.
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, any monthly payments you’ve made will be fully refunded.
Remember – if you cancel or stop paying your premiums your insurance will end and you won't get anything back. It’s important to make sure your comfortable with the monthly cost you commit to.
The plan has no cash-in value at any time, so if you cancel your plan you wouldn’t get anything back.
Making a claim is really 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 write to us and we’ll help them 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.
The Guaranteed Over 50 Plan is provided by Phoenix Life Limited. And we’re a member of the Financial Services Compensation Scheme (FSCS). So, you’re fully protected if we’re unable to pay claims. The FSCS may help you transfer your policy to another insurer or pay compensation. If policies are transferred, then the FSCS will ensure you receive 100% of your benefits under your new policy. If we cannot pay the cash sum due when you die, then your next of kin could claim 100% of the cash sum from the FSCS. For further information visit www.fscs.org.uk.
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 57.8% market share of all whole of life guaranteed acceptance plans bought directly. Source: ABI statistics issued in November 2018 for 12 month period to 30 September 2018 based on new Phoenix Life policy sales trading as SunLife.
*Gift sent after 3 months’ premiums paid. We reserve the right to withdraw this offer at any time. 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.
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 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 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.