A: If you take out a new Guaranteed Over 50 Plan you’re fully covered after a year (the waiting period known as the ‘moratorium’), including if you were to die from coronavirus.

However, if you bought your over 50s plan before 1st March 2020, we’re waiving the moratorium period for claims arising as a result of coronavirus. So, if you die due to an illness related to coronavirus (and this is recorded on the death certificate), we’ll pay the claim in full even if you are still in the waiting period.

A: Our Guaranteed Over 50 Plan works by paying out a fixed cash sum to your family when you die.

When you take out SunLife's Guaranteed Over 50 Plan, you’re immediately covered for accidental death but you are not covered if you die for any other reason until you have had your plan for one year.

So if you die in the first year and it is not as a result of an accident, you will not get a payout. However, the premiums you had paid for that plan would be returned in full.

A: Based on your age and the premium you choose, our over 50 life insurance could cost you anything from £3.70 to £74 a month.

You can choose any monthly payment you wish. But your life insurance cannot exceed £18,000 across all your SunLife insurance plans.

Depending on how long you live, you could pay in more than we pay out.

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’re free to cancel your SunLife 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 life insurance, 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: 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: You can tailor your plan with PayStop, our premium cap option. This means you’ll pay a slightly higher premium, but your payments will stop at an agreed date rather than on death.

It is available for anyone aged 50-80. You can get a quote online or by calling us on 0800 904 7674.

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: From 1^st January 2018, the monthly SunLife Big Cash Draw gave customers the chance to win £10,000. From 1^st March 2020, we stopped offering the monthly prize – and instead offered the chance to win £50,000 as part of a single annual prize.

Any customers who opted-in from the 1^st March 2021 until the close date of 28^th February 2022 will be entered into the single £50,000 Draw, along with any valid existing entrants since 1^st January 2018. Each valid policy held by a customer counts for one entry.

The Draw will take place on 3^rd March 2022 and the winner awarded £50,000. More details can be found at sunlife.co.uk/win.

From the 1st March 2022, we’ll stop offering the annual prize and instead we’ll be giving away £60,000 over the course of 12 months. Every other month, one lucky Guaranteed Over 50 Plan customer will win £10,000. All existing and new policyholders will be eligible to enter. Enter by the 28th of every other month to be in with a chance of winning. The final draw closes 28th February 2023.

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 insurance, 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: 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, United Kingdom.

If you’ve chosen the Funeral Benefit Option, they’ll need to contact Dignity Funeral Ltd directly.