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Your premiums stop.
Your cover continues.

What is PayStop?

  • Fixed monthly payments
  • Fixed final payment date
  • Fixed cash payout

PayStop, our premium cap option, is an easy way to fix the final payment date of your Guaranteed Over 50 Plan. Your premiums will be higher every month, but you stop paying after a certain number of years. For example if you’re aged 60 when you take out a plan, your monthly payment will be slightly higher, but you won’t have to pay for the rest of your life. In fact you could stop paying after 23 years, but your cover will keep going as long as you do!

How it works

If you’re between 50 and 80, you can add PayStop to your new Guaranteed Over 50 Plan. This lets you stop paying the premiums early, while keeping your full payout. Please note you can't add this to any existing plans.

The table below shows an example of a plan for a non-smoker, with and without Paystop:

Type of plan Start age Example monthly payment Final payment Fixed cash payout on death
(after you've had the plan for a year)
With PayStop 60 £17.55 83 years old* £3,345
Without PayStop 60 £15.00 For the rest of your life £3,345

*On your Plan anniversary

If a lifetime’s cover without lifelong payments sounds like a good plan to you, why not consider adding on PayStop. For more details call free on 0800 904 7674.

Important to know

  • You're only fully covered after you've had the plan for one year. If you die after the first year of your plan, the full cash sum will be paid to your loved ones.
  • If you stop paying your premiums, your insurance will end, and you won't get anything back.

    Terms and Conditions apply.

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Your free SunLife welcome gift

As a special thank you for taking out a plan, we'll send you a free welcome gift card, worth £135! Just start your plan by 31st July, and it'll be yours to spend in all your favourite shops like M&S, Argos, Boots and Iceland.

Get a quick quote 

Why Choose SunLife

  • Someone buys a plan with us every 5 minutes
  • Our roots go back over 200 years, so you can trust us to be there for your loved ones
  • We’re proud to be the nation's favourite, proud to be highly rated by our customers and proud to support the British Heart Foundation
Feefo Platinum Trusted Service Award 2024 Trustpilot logo four and a half stars British Heart Foundation logo

Answers to your over 50s life insurance questions

Why is over 50 life insurance important?

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.

What can over 50 life cover be used for?

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.

How much will the Guaranteed Over 50 Plan PayStop cost me?

The SunLife Guaranteed Over 50 Plan PayStop Option starts from £4.68 a month – up to a maximum of £86.58. Depending on how long you live, you could pay in more than we pay out. Choose the monthly payment you are comfortable with but remember your life cover can't exceed £18,000 across all your SunLife Guaranteed Over 50 Plans.

When do I stop paying my monthly payments?

You’ll pay your chosen amount for the agreed length of time, based on your age when you apply, 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. 

Can I change my monthly payments?

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 over 50 life cover will be cancelled and you won’t get anything back.

Do I need a medical for over 50 life insurance?

No, we won’t ask you to take a medical or for access to your records.

Can I get a Guaranteed Over 50 Plan if I smoke?

Yes, you’re still guaranteed to be accepted as long as you’re aged 50-80

Can I have more than one over 50 plan?

Yes, you can have multiple Guaranteed Over 50 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.

When will I get my free welcome gift?

You'll receive your FREE gift card after you've made six monthly payments. Full terms and conditions apply.

What is the free £250 Funeral Benefit Option?

If you add the Funeral Benefit Option to your over 50s life insurance and use a Dignity Funeral Director to conduct your funeral, your family will receive an extra £250 towards your funeral – at no extra cost. So if your Guaranteed Over 50 Plan 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. Direct cremation funerals are excluded.

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.

Can I have a joint plan?

Unfortunately, we don’t offer joint policies, but your partner can also take out a Guaranteed Over 50 Plan in their name if they wish to.

Can I refer a friend to SunLife?

As a customer, you can refer your friends and family – and get a free 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 six premium payments. See full T&C's for more information

Does SunLife offer over 60s life insurance?

Anyone aged 50-80 is guaranteed to be accepted for our over 50 life cover, Premium Cap Option.

What's covered with my plan?

When you take out a SunLife Guaranteed Over 50 Plan, you’re immediately covered. Once you’ve had your plan 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.

Am I covered when I am on holiday abroad?

Yes, your over 50s life insurance covers you when you’re on holiday.

Am I still covered if I move abroad?

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.

What is the Accidental Death Benefit?

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.

Does the Guaranteed Over 50 Plan cover critical illness?

No, the plan does not cover critical illness as it pays out on death.

What's not covered with my plan?

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 £86.58 for one plan and if you take out multiple plans you cannot have premiums that total more than £100 a month.

Over 50 life cover is limited to £18,000 across all plans taken out.

What is inflation, and will it affect my plan?

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

How do I know how much over 50 life cover I have?

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 £250 Funeral Benefit Option.

Or you can call us on 0800 008 6060 and our friendly UK team will help you.

Can I cancel my over 50 life cover?

You’re free to cancel your SunLife Guaranteed Over 50 Plan at any time by writing to us or by calling the telephone number in your policy documents.

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 permanent 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.

Can I cash in my over 50 life insurance?

The plan has no cash-in value at any time, so if you cancel your plan you wouldn’t get anything back.

How does my family or someone make a claim?

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.

Is my plan protected if you're unable to pay claims?

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

Start your over 50s life cover today

Sources and information

  1. UK's No.1/Nation's favourite/Most trusted/Most popular – Source: Association British Insurers statistics.
  2. Gift card – sent after you've paid 6 months' premiums. Offer starts 02.05.2024. Offer ends 31.07.2024. Go to for T&Cs.
  3. Guaranteed Acceptance – is for UK residents aged 49-85.
  4. Fast payout – 98% claims are paid within 3 working days of receiving the necessary paperwork.
  5. Funeral costs – are based on the average cost of a burial and the cost of a cremation in the UK. SunLife Cost of Dying report.
  6. SunLife is highly rated for customer experience on Feefo and Trustpilot.
  7. Testimonials – are from genuine customers, via Trustpilot and Feefo.
  8. British Heart Foundation – SunLife will pay £1 from the first payment of every plan to British Heart Foundation Ventures Limited registered as a company in England and Wales No. 02767880, which pays its profits to the British Heart Foundation. Registered Charity Number: 225971 (England and Wales) and SC039426 (Scotland).
  9. Guaranteed Over 50 Plan details (including 100% claims paid) Full T&Cs apply
  10. Insurance type – this is whole of life insurance. Premiums are payable for life unless PayStop option is selected. A payout is guaranteed when you die.

For additional verifications please visit the verify page.

Legal and regulatory information

Not all products are available outside of mainland UK, please call us to discuss if you have any queries.

This website contains information on how the SunLife Guaranteed Over 50 Plan works. This website does not contain advice, so you need to be satisfied this type of policy meets your needs. If you are unsure and need advice, please visit 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.

Who are SunLife and who provides the SunLife Guaranteed Over 50 Plans?

SunLife Limited distributes financial products and services. Registered office: 1 Wythall Green Way, Wythall, Birmingham, B47 6WG, United Kingdom. Registered in England and Wales, number 05460862. SunLife Limited is authorised and regulated by the Financial Conduct Authority and is entered on the Financial Services Register (reference number: 769427).

Phoenix Life Limited trades as SunLife and is the provider of the SunLife Guaranteed Over 50 Plan life insurance policies. Phoenix Life Limited’s registered office is at 1 Wythall Green Way, Wythall, Birmingham, B47 6WG, United Kingdom. Registered in England and Wales, number 1016269. Phoenix Life Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (reference number: 110418).

Who provides the Funeral Benefit Option?

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, United Kingdom. Registered in England and Wales, number 00041598. Dignity Funerals Ltd is a member of the National Association of Funeral Directors.