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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 Guaranteed Over 50 Plan. It gives you the comfort of knowing how much you’re paying every month – and exactly when the payments will stop. Better still, you’re covered for life, and when the time comes, your family will get the full cash payout.

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* £3,415
Without PayStop 60 £15.00 For the rest of your life £3,415

*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 information

Why Choose SunLife

  • Someone buys a plan with us every 4 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

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 £100 gift card after you’ve paid 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.

Can you tell me more about the Big Cash Draw?

From 1st March 2022, 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. Each valid policy held by a customer counts for one entry. Enter by the 5th of every other month to be in with a chance of winning. The final draw closes 5th March 2023.

More details can be found at

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 £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

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 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.

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

How does SunLife support the British Heart Foundation?

Around 1 in 4 people still die from heart and circulatory diseases in the UK. The British Heart Foundation (BHF) is the UK’s biggest independent, publicly funded supporter of heart and circulatory disease science. SunLife has chosen to support the BHF’s pioneering research by donating £1 from each sale of selected products to the British Heart Foundation to fund life saving research.

Start your over 50s life cover today

The smallest 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 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. Most Trusted/UK's Favourite - Source: Association British Insurers statistics.

2. Gift card – sent after six months premiums paid. SunLife reserves the right to change, stop or limit this offer at any time. Terms and conditions apply.

3. Guaranteed Acceptance - is for UK residents aged 50-80.

4. British Heart Foundation - SunLife will pay £1 from the first payment of every plan to the British Heart Foundation, Registered Charity Number: 2259717 (England and Wales) and SC039426 (Scotland).

5. SunLife is highly rated for customer experience on Feefo and Trustpilot.

6. Guaranteed Over 50 Plan - Full T&Cs apply

For additional verifications please visit the verify page.