What is over 50s life insurance?
Over 50 life insurance is a popular way to help cover funeral costs or leave as a cash gift for loved ones. You pay a little each month and get a guaranteed payout when you die. The average payout is over £4,000.
SunLife’s over 50s life cover is really affordable (from 85p a week) and the UK’s favourite (more people choose our plan than any other). We’re also rated more highly by customers on Feefo than any
other over 50s plan provider.
How over 50 life insurance works
You choose the monthly premium which suits you. The premiums never go up and
you know exactly what the payout will be when you die. Plus, with SunLife you get:
with no lifestyle questions
(we pay 100% of claims)
Spend at thousands of stores, including M&S, Argos & Boots
How much life cover do I need?
Over 50s life insurance is often to help cover funeral costs, and the average cost of a funeral in the UK is £4,417. You can find the average cost of burials and cremations in your area by downloading our Cost of Dying report.
It’s completely free and is the UK’s longest-running, most respected research into funeral costs, annually interviewing funeral directors from all over the UK.
How much does over 50s life cover cost?
The cost of over 50s life insurance depends on your age and how much cover you'd like, but is often very affordable. To give an idea, here's how much you could get for £19.99 a month:
Payouts for new customers. Correct as at February 2020.
Over 800,000 customers have chosen SunLife’s over 50s life cover 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 Platinum Trusted Service Provider.
What’s more, customer reviews on Feefo rate us more highly than
any other over 50s plan provider.
Join over 800,000 people in the UK who’ve taken out a SunLife plan
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: Our Funeral Benefit Option offers an extra £250 to put towards your funeral, and it’s completely free.
It’s simple – when you pass away your cash sum will be sent directly to Dignity Funerals Limited. Dignity are one of the UK’s best known funeral companies, with over 800 funeral directors around the UK, so they could be just on your high street.
There is no commitment and nothing is arranged in advance – and so your loved ones have full control when the time comes.
If your family do choose Dignity, one of their local funeral directors will help with any arrangements, and Dignity will put £250 towards the cost of your funeral.
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 small 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.
SunLife Limited 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).
1. Most Trusted/UK's Favourite - Source: Association British Insurers statistics.
2. Gift - sent after 6 months’ premiums paid. Biggest gift card ever for new customers. T&Cs apply
3. Most Affordable - SunLife offers the lowest monthly premium option of £3.70, making it the most affordable way to take out over 50s life cover.
4. Guaranteed Over 50 Plan - Full T&Cs apply
For additional verifications please visit the verify page.
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.