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Verification of SunLife product claims

Below you’ll find verification for claims about SunLife’s plans and products:

Guaranteed Over 50 Plan verification

Below you’ll find verification for claims about SunLife’s Guaranteed Over 50 Plan.

Full cover after one year

In the first year of the plan you would only get the full payout if you were to die from an accident. If you were to die for any other reason in the first year, you would not get a payout. However, the premiums you had paid for that plan would be returned in full. See the terms and conditions for more information.

The UK's no.1 choice/The nation's favourite/The UK's most popular/The UK's most trusted/The UK's favourite

SunLife has 86.2% market share of all whole of life guaranteed acceptance plans bought directly. Source: ABI statistics issued in March 2025 for a 12-month period to 31st Dec 2024 based on new Phoenix Life policy sales trading as SunLife. For more information about this source, please get in touch.

Immediate cover for accidental death

The full cash sum is paid if you die as the result of an accident, even if you’ve had your plan for less than a year. Full terms and conditions apply.

Guaranteed to pay 100% of claims

Your payout is guaranteed, in accordance with the terms and conditions. As at end of Feb 2025.

Average cost of a funeral

£4,285 represents the average of the cost of a burial and the cost of a cremation in the UK. For more information about funeral costs by type and region, please see our Cost of Dying report.

Feefo rating

As of 21.03.25, we have a rating of 4.8 for customer service (based on 972 reviews in the last year) plus a Platinum Trusted Service award from Feefo.

Trustpilot rating

As of 21.03.25, we have a TrustScore rating of 4.8 out of 5. Based on 4.9K reviews in the last 6 months.

Fast payout

98% of claims are paid within 3 working days of getting the paperwork we need from you – 12 months to Feb 2025.

One Guaranteed Over 50 Plan is bought every 5 minutes

Based on new policy sales for a 12-month period to end of Feb 2025.

Number of policyholders

SunLife has over 800,000 Guaranteed Over 50 Plan policyholders as at 30th December 2024.

Insurance type

This is whole of life insurance, a payout is guaranteed when you die. Premiums cease to be due on the policy anniversary on or after your 95th birthday.

Compare over 50 plans

SunLife's Guaranteed Over 50 Plan is the market leader for over 50s life cover. It offers a 100% guaranteed cash payout of up to £18,000, for people aged 49–85. Unlike some others, it's 5 Star rated by Defaqto and it also comes with a Funeral Benefit Option.

Here's how the Guaranteed Over 50 Plan compares to these others selling over 50s life insurance:

AIG – Second most popular active provider

British Seniors' Over 50s Life Insurance

  • No Defaqto 5 Star rated product
  • Only provides guaranteed acceptance up to age 80 (50–80)
  • Maximum payout of £10,000
  • £300 Funeral Benefit Option

Scottish Friendly – Third most popular active provider

Scottish Friendly's My Mutual Guaranteed Over 50s Plan

  • No Defaqto 5 Star rated product
  • Only provides guaranteed acceptance up to age 74 (50–74)
  • Maximum payout of £20,000
  • No Funeral Benefit Option

One Family – Fourth most popular active provider

One Family's Over 50s Life Cover

  • Defaqto 5 Star rated product
  • Only provides guaranteed acceptance up to age 80 (50–80)
  • Maximum payout of £20,000
  • £300 Funeral Benefit Option

Legal and General – Fifth most popular active provider

Legal and General's Over 50 Life Insurance

  • Defaqto 5 Star rated product
  • Only provides guaranteed acceptance up to age 80 (50–80)
  • Maximum payout of £10,000
  • £250 Funeral Benefit Option

These are the 4 next most popular providers after SunLife according to the Swiss Re Term & Health Watch report 2024. The list of providers has been amended to only show those who are currently trading.

The competitor product information is correct as at April 2025 and is checked every 3 months.

For more information about these claims, or for sources please get in touch.

Guaranteed Inheritance Plan verification

Below you’ll find verification for claims about SunLife’s Guaranteed Inheritance Plan.

Cover starts immediately

Cover begins on the policy start date shown in your policy schedule. See the terms and conditions for more information.

Payouts from £5,000 to £50,000

You can choose any cover amount from £5,000 up to a maximum amount of £50,000 at the start of the policy. How much you can take out depends on your age, smoker status and health. See the terms and conditions for more information.

A payout is guaranteed

As long as you answer the health questions truthfully and accurately, a payout is guaranteed in accordance with the terms and conditions.

Bigger guaranteed payout

In exchange for a few simple health questions, we may be able to offer you a bigger payout compared to our Guaranteed Over 50 Plan.

Faster payout

Compared to some other types of life insurance. Faster payout applies if you name your beneficiaries when you take out a Guaranteed Inheritance Plan, as doing so means the payout won’t have to go through probate.

Insurance type

This is whole of life insurance. Premiums are payable for life. If you stop paying your premiums, your insurance will end, and you won't get anything back.

Equity release verification

Below you’ll find verification for claims about the SunLife Equity Release Service.

House price value minimum £70k

The minimum property value for equity release plans is usually £70,000, however it can be higher with some providers. To be eligible for a Sunrise Lifetime Mortgage, your property must be worth at least £99,000 or more.

Minimum loan starts from £15,000

The minimum loan amount starts from £15,000 for Sunrise products.

Aged 55 and over

The minimum age limit for equity release products is usually 55.

Advice given via SunLife Equity Release Service

SunLife Equity Release Service is a trading style of Key Advice Solutions. Key Advice Solutions is a trading style of Key Retirement Solutions Limited.

Sunrise Lifetime Mortgages

The Sunrise Equity Release Lifetime Mortgage Products are manufactured and administered by Standard Life Home Finance, which is a trading style of more2life.

Tax-free cash

Any equity you release from your home is tax-free. However, if you choose to invest the money you release, any interest you receive may be taxable and may affect your tax position.

Options for no monthly repayments

Depending on the equity release product you choose, you may not need to make monthly repayments. However, making monthly repayments will help to reduce the compound interest you pay on your loan. The remaining loan and compound interest will be repaid on the sale of your property when you die or move into long-term care.

Northern Ireland exclusion

Sunrise products are not available in Northern Ireland.

For more information about these claims, or for sources please get in touch.

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