SunLife Over 50 Plan Review

SunLife is the UK’s leading provider of over 50s life insurance and is a Platinum Trusted Service Provider with the independent review company Feefo.

So, whether you want to leave a cash gift for those closest to you or to help directly with your funeral costs, the SunLife Guaranteed Over 50 Plan may be a good option, however, you should always consider the pros and cons.

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Market Insight

The SunLife name has been around for over 200 years, and they were the first company to offer life insurance without a medical.

The SunLife Guaranteed Over 50 Plan is provided by Phoenix Life Limited.

Highlights

• The UK’s most trusted plan
• Starts from £4 a month
• UK residents aged 49 up to 85 are guaranteed to be accepted
• Your monthly premiums will never increase, and the cash sum paid out will never decrease
• Full cover after one year. If you pass away before then, SunLife insurance will pay out everything you’ve paid in.
• Accidental death benefit from day one, so SunLife will pay the full cash sum if you die as the result of an accident, even if within the first year
• Option to have the cash sum put directly towards funeral costs
• Guarantees to pay 100% of claims
• Free welcome £125 gift card

Free Funeral Benefit Option

SunLife over 50 life insurance comes with a Funeral Benefit Option. This free option allows you to have your cash sum paid directly to Dignity Funerals Limited, who will put it towards the cost of your funeral. On top of your payout amount, they will also offer an extra £250 with their Funeral Benefit Option.

When the time comes, your family will only have to make one call and the Dignity Funeral Director will help them with all the arrangements.

Important to know

• Depending on how long you live, you could pay more in premiums than the cash sum paid out.
• You need to ensure you keep up with your monthly payments or your insurance will end, and you won’t get anything back.
• As the cash sum is fixed, inflation will reduce its value over time.  
• The maximum cover level is £18,000.