What is PayStop?
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
You're fully covered after a year. Then the cash payout you've chosen is paid when you die.
The total paid in premiums could be more than the cash payout (depending on how long you live).
Full Guaranteed Over 50 Plan Premium Cap Option terms and conditions (PDF)
You need to pay your monthly premiums to keep your cover. If you stop, so will the insurance and you won't get anything back.
Inflation reduces buying power over time.
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Answers to your over 50s life insurance questions
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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 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.
Important
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.