Sun Life Funeral Plan Review

Aug 22, 2016
Sun Life Funeral Plan Review

Before we start it's worth pointing out that the Sun Life funeral plan is not to be confused with the Sun Life Guaranteed Over 50 Plan which is a life insurance plan that will pay a cash sum upon death that can be used to help with funeral costs, but is not a funeral plan. 


Sun Life funeral plans are provided by Golden Charter, a leading supplier of funeral plans in the UK. 

Who are SunLife?  

Sun Life have been around since 1810 and were the first company to introduce a life insurance plan without the need for a medical, which lead the way to the launch of the innovative Over 50s Life Insurance Plan in 1979. Today (25/2/16) they have over 880,000 policyholders and a growing number of Sun Life funeral plan holders, along with pet insurance, ISA's, home insurance and Will Writing. 

How do Sun Life funeral plans work? 

When you purchase a Sun Life plan you are guaranteeing your funeral director's services at today's prices. In addition you will receive an allowance of £940 towards your cremation or burial fees and ministers fees. Your money is invested in the Golden Charter Trust Fund independently managed and audited so you can be sure your money is safe until needed. 

Which funeral plans do they  provide? 

They offer the same 3 main plans as can be found on offer from Golden Charter with an added incentive of a £50 M&S Voucher as a thank you for using their services. The plans are called the Standard, the Select and Superior; you should check the full details on the website, although the key differences are that you will also receive a better quality coffin at each level plus a limousine with the mid-range and 2 limousines with the Superior plan. 

Current Prices 

  • Standard Plan £3,625 
  • Select Plan £3,995 
  • Superior Plan £4,540 

What are the payment options?  

You can pay in full by direct debit, credit card or cheque and over 12 months without any additional charges. Sun Life do not offer the low cost monthly instalment option (that can found on the Golden Charter website), but they do offer the Fixed Monthly Payment plan which enables you to spread your costs monthly.  

The Fixed Monthly Payment Plan is a life insurance backed plan that will provide full cover after 2 years should you die with nothing more to pay as detailed in the plan. The downside is that you will pay premiums until your 90th birthday or you pass away whichever comes sooner, which means that you could pay in more into the plan than the value of the funeral. For those in poor health this could be an attractive option as it offers guaranteed acceptance with no medical and full cover (as detailed in the plan) after 2 years. 

Why choose SunLife? 

Sun Life is a well known brand with a good customer satisfaction rating. The plan is provided by Golden Charter, the largest provider of funeral plans in the UK who have access to over 3,300 funeral directors across the country. And with an additional incentive of a £50 M&S Voucher could be worth considering if you are seeking a funeral plan.  

If you would like to see how Sun Life funeral plans compare to other leading plans you can compare them with other plans in our comparison table.    

Ashley Shepherd is an Over 50s Personal Finance Expert

ashley shepherd

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