• How SunLife over 50s life cover works

    SunLife’s over 50s life insurance offers a straightforward and affordable way to leave some money behind when you die. Money that could be put towards funeral costs or as a gift to your nearest and dearest to remember you by.

    To qualify for the Guaranteed Over 50 Plan, all we ask is that you’re aged 50-85 and resident here in the UK. If so, we guarantee to accept you with no medical checks or health questions to answer.

    We’ve put together this short video to demonstrate how our life insurance for over 50s works. We’ve also created examples for you showing the plan in action. These are not real people, but the situations are typical of our customers and the figures are correct.

    How does over 50 life cover work?

    The Guaranteed Over 50 Plan is no-medical life insurance so you won’t be asked any health questions at all. So long as you’re aged 50 to 85, you won’t be turned down. Plus, the cash sum paid out for a man and a woman is the same, so long as you’re the same age and pay the same premium.

    So how does it work? It’s really straightforward – simply pay into your plan every month, for the rest of your life, and in return the plan will pay out a set amount of money when you pass away. The money can be used to help pay towards funeral costs. Or to leave as a gift for loved ones!

    To get the full amount, you just need to have been paying into the plan for two years or more. But remember, if you stop paying your cover would end and you wouldn’t get anything back. If you happen to pass away during the first two years, the plan would pay out all the money you’ve paid in so far, PLUS another 50% on top.

    It’s easy to see why we’re the UK’s No 1 choice. So why not join the 880,000 people who already have a plan.

    That’s another thing we’ve made straightfordable.

    Examples of over 50s life insurance in action

    Meet Richard

    a man smiling in a blue shirt with his arms folded

    Richard chooses over 50s life cover to leave some money for his children. He uses the funeral cost calculator to see what a funeral costs in his area because he’d also like to help towards his funeral costs when the time comes.

    He isn’t sure if he wants to pay every month for the rest of his life in case his financial situation changes so he also looks into paying a higher premium for a set period of time for the same amount of cover.

    Richard's scenario

    His age now 55
    Amount of cover he chooses £10,760
    Monthly premium he is quoted £35 £45.50 (premium cap option)
    How long he can choose to keep paying premiums for The rest of his life 23 years, or until death if earlier
    Payout his family receives when he dies after the first 2 years £10,760

    Meet Margaret

    a woman smiling in a pink top with her arms folded

    Margaret chooses life insurance for the over 50s so she can leave her children and grandchildren a little something to remember her by. She has to watch her outgoings carefully so her priority is choosing an amount she can comfortably afford to pay every month.

    Margaret's scenario

    Her age now 60
    Premium she’s comfortable she can afford every month £10
    Amount of cover she is quoted £2,095
    How long she has to keep paying premiums for The rest of her life
    Payout her family receives when she dies after the first 2 years £2,095

    Meet David

    a man looking to the left in a red polo shirt

    David wants to help his family sort out his funeral, so he decides to add funeral benefit option to his over 50s life cover. This means when he dies, the payout will go directly to Dignity and put towards his final funeral bill. As a thank you for choosing them, Dignity will also contribute £300 towards his funeral cost, leaving less for his family to pay.

    He can also record his funeral wishes using SunLife’s My Perfect Send-Off planner so his family will have less to worry and think about.

    David's scenario

    His age now 63
    Premium he’s comfortable he can afford every month £18
    How long he can choose to keep paying premiums for The rest of his life
    Payout when he dies after paying into his plan for at least 2 years,
    which is paid directly to the funeral director


    Dignity’s contribution
    £3,415

    +

    £300
    Total amount to be taken off David’s funeral bill £3,715
    Final bill for David’s funeral £3,900
    How much extra his family will need to pay £185

    If David’s funeral had cost less than £3,715
    the balance would be credited to his estate

    Meet Grace

    a lady in glasses and a flowery blouse with her arms folded

    Grace chooses SunLife’s no-medical life insurance because she doesn’t like having to answer lots of questions and is looking for an affordable way to leave a small legacy to her favourite charity.

    Grace's scenario

    Her age now 70
    Premium she’s comfortable she can afford every month £15
    Amount of cover she is quoted £2,020
    How long she has to keep paying premiums for The rest of her life
    Money the charity receives when she dies unexpectedly
    just over 11 months later, having paid into her plan for
    less than 2 years
    £270

    Grace paid 11 premiums of £15, and the first
    premium was free. 1.5 times the total of these
    premiums is £270

    Meet Eric

    a man in glases turned to the left in a blue and white pin stripe shirt

    Eric would like to leave a bit of cash to help his children sort out his affairs. Now he’s over 60, life insurance is becoming increasingly expensive, especially having once been a smoker. Over 50s life cover could be a good option for him because the premiums are affordable.

    Eric's scenario

    His age now 67
    Premium he’s comfortable he can afford every month £20
    Amount of cover he is quoted £3,190
    How long he has to keep paying premiums for The rest of his life
    Payout his children receive when he dies in an accident 6 months later, having paid into his plan for less than 2 years £3,190

    As he died as a result of an accident as defined in the terms & conditions (PDF) , the full amount is paid out.

    SunLife over 50s life cover - what you need to know


    What happens if I die after the first 2 years?

    If you die after the first 2 years, the full amount will be paid out.

    What happens if I die during the first 2 years?

    If you die in an accident, the full amount may be paid out. Full details (PDF) .

    If you die of another cause, 1.5 times the premiums paid in will be paid out.

    What happens if I miss a monthly payment?

    Monthly premiums must be paid when due. Stop paying and your over 50s life cover will end. You won't get any money back and nothing will be paid out when you die.

    If you found this article helpful, you might also like whole of life insurance explained to learn more about why people choose the Guaranteed Over 50 Plan .

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