SunLife Over 50 Plan review

The SunLife plan

The SunLife Guaranteed Over 50 Plan is the UK’s most trusted over 50s life insurance plan. With roots stretching back over 200 years, SunLife were the first company to offer over 50 life insurance without a medical.

The Guaranteed Over 50 Plan can help you protect your loved ones by providing them with a cash payout when you die. The money can be used however your family choose, perhaps to help with funeral costs, pay off outstanding debts or as a treat for everyone to enjoy.

SunLife promises that your monthly payments will never go up and your cash sum will never go down. Plus they’re a Platinum Trusted Service Provider with the independent review company Feefo and are highly rated by customers on Trustpilot with an excellent 4.8 rating.

Can you have more than one over 50 plan?

You can have more than one SunLife Guaranteed Over 50 Plan however your total monthly premiums are limited to £100 and the maximum level of cover is no more than £18,000. So, you can have as many plans as you like, as long as you don’t exceed these limitations.

Things to consider

• The Guaranteed Over 50 Plan gives you full cover after one year. If you pass away before then, SunLife will pay out everything you’ve paid in.
• The plan includes accidental death benefit - so SunLife will pay the full cash sum if you die as the result of an accident, even if you’ve had your plan for less than one year.
• Premiums are payable for your lifetime or until the policy anniversary after your 95th birthday. Your cover continues for life. If you stop paying premiums earlier, your insurance will end and you won’t get anything back.
• You need to ensure you keep up with your monthly payments or your insurance will end and you won’t get anything back.
• Over 50s Insurance Plans do not guarantee to meet the full cost of a funeral.
• Please ensure you understand and are happy with the terms and conditions before taking out a plan.
• The maximum cover level is £18,000.
• The SunLife Guaranteed Over 50 Plan is provided by Phoenix Life Limited.

Ashley Shepherd  

Over 30 years’ experience in financial services including funeral planning.

Our over-50 life insurance expert’s view

 

SunLife’s over-50 life insurance is a well-known, guaranteed acceptance whole of life policy aimed at providing a fixed cash payout to help cover funeral costs or leave a small legacy.

The appeal lies in its simplicity: fixed premiums, no medical underwriting, and certainty that the payout will be made once qualifying conditions are met.

However, as with all over-50s life insurance plans, you must recognise that if premiums are paid over a long period, the total paid can exceed the sum assured, which affects the overall value.

My view is that SunLife offers a credible and established option in this market, but you should compare pricing carefully and be clear that you’re paying for certainty and ease rather than maximum financial return.

SunLife over 50 plan reviews by their customers

The SunLife Guaranteed Over 50 plan service has been rated highly by customers on two leading independent review sites - Feefo and Truspilot.

Feefo shows a rating of 4.8 for the Sunlife plan which is classed as excellent. Trustpilot also shows an excellent rating of 4.8.

Celebrity endorsed SunLife adverts

In addition to customer reviews, SunLife insurance has been endorsed in it’s adverts by many leading UK actors and presenters over the years. The most famous SunLife advert has to be with Michael Parkinson, however June Whitfield, Annette Crosby, Alan Titchmarsh and more recently Carol Vorderman have also played their part in promoting the over 50 plan.