Sun Life Over 50s Plan Life Insurance Reviews 2023
The Sun Life over 50 plan has a long and established history of providing life insurance in the UK.
Initially, they started as the SunLife Assurance Society in London in 1810 and now operate as part of the Phoenix Group – one of the largest insurance providers in Britain.
What separates SunLife and the Sun Life over 50 plan from every other life insurance firm is its solid focus on the over 50s market. SunLife was the first company to offer a guaranteed over 50s plan, and as of 2023, the company held a 58.9% market share of all UK guaranteed over 50s life insurance with no medical required.
Without life insurance protection, would your loved ones be able to do the following if you weren’t around to make a financial contribution?
- Pay off the mortgage in its entirety
- Clear any outstanding debts still in your name
- Fund their current lifestyle
- Buy themselves a new home
- Plan for a funeral
- Deal with inheritance tax
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Celebrity Endorsements of Sun Life Over 50s
Sun Life Over 50s has become a household name for their guaranteed over 50s policies after having a string of celebrities advertise their infamous ‘life after 50’ campaigns.
The insurance company frequently makes Nielsen’s top 100 list of UK advertisers with national ad spending between £20 million and £50 million per year with ads running on television, sponsoring TV shows such as 2015’s Big Star, Little Star on ITV, and national print campaigns.
The most notable face associated with SunLife is Parky (Michael Parkinson). Other celebrities to have advertised for SunLife include Frank Windsor, June Whitfield, and Annette Crosbie.
With a strong foundation and solid financial backing of one of the leading insurers in the UK, SunLife and the Sun Life over 50 plan is a financially stable brand with expertise in providing guaranteed over 50s life insurance policies with no medical required.
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Sun Life Over 50s Plan Summary
|Guaranteed Financial Protection||Yes|
|Free Gift Value||£100|
|Monthly Payments||Starting from £3.70 per month|
|Full Coverage||After one year of having the plan|
|Immediate Cover||For accidental death|
|Funeral Benefit Option||£250 contribution towards the funeral|
|Claim Payout||100% of claims, usually within three days or fewer|
|Coverage||Fully covered after one year of having the plan|
|Premium Termination||Insurance ends if premium payments are stopped|
|Inflation Impact||Cash sum’s buying power reduces over time due to inflation|
|Gift Card||£100 to spend at hundreds of shops|
|Diners Card||Up to 50% savings at thousands of independent restaurants|
|Big Cash Draw||Chance to win £10,000 in the Big Cash Draw every two months|
|Over 50s Life Insurance Guide||Free downloadable guide about life insurance for over 50s|
|SunLife’s Rating||Highly rated by customers on Feefo and Trustpilot|
|Plan Provider||Phoenix Life Limited trades as SunLife|
|Funeral Benefit Provider||Dignity Funerals Ltd arranges and provides funeral services|
Sun Life Insurance UK Reviews
Feefo and Trustpilot are two trusted review sites online that let users share real customer experiences. SunLife UK reviews appear favourable on Feefo, with an overall excellent experience on Trustpilot.
At the time of writing, Trustpilot has listed 5,497 reviews of SunLife insurance, with 85% rated as excellent.
The negative reviews mainly relate to building and home insurance, not SunLife’s life insurance range, including the Sun Life over 50 plan.
SunLife Insurance UK offers a variety of insurance products, all catering to the over 50s, with some offerings unique to the over 55s market.
Most reviews of SunLife UK appear on Feefo – currently listing over 27,512 SunLife UK reviews, for which they have a customer experience rating of 4.8 out of 5.
Most users report their experience with SunLife and the Sun Life Plan as fast, efficient, and easy to get what they need.
The official site for SunLife states they are a Feefo Gold Trusted Service Partner. However, they refer specifically to their over 50s plans, not SunLife.
What Customers Like about SunLife Over 50s
SunLife gets a lot of user feedback from customers and independent review sites. Based on user feedback, five points of note are listed as reasons customers choose SunLife for financial protection using the over 50s plans.
SunLife Over 50’s is the predominant brand for guaranteed life insurance policies for the over 50s. People associate SunLife with funeral care plans or similar policies that pay a fixed lump sum payout based on a fixed monthly premium.
Over 700,000 customers in the past year are a testament to the trust factor SunLife has within the over 50s insurance market.
Consumers have a vast range of financial service products to leave some money behind for their loved ones. The over-50s plan is consistently the most affordable option. The main selling feature is the premiums being under £4 per month.
With many types of life insurance, medicals are required, with the most favourable rate going to the healthiest people.
For those reaching age 50 without existing cover and health conditions, the guarantee of cover without a medical being required or questions about any health conditions makes getting covered much easier.
Fixed Price Premiums
Before entering any of SunLife’s Over 50’s plans, customers know how much it will cost from the plan’s start. It makes budgeting easy as the premium quoted is fixed for life, or if you choose the premium cap option, the premiums can be capped for a fixed term.
Guaranteed to Payout and Fast
There are two only requirements for a sun life over 50 plan to pay out a claim successfully:
- Your policy must have been in place for one year
- Premiums must be up to date
Most claims on the SunLife over 50s plans are paid out within three days. SunLife guaranteed over 50s plans are ideal for leaving some money behind to loved ones either as a gift or to pay for or help contribute towards funeral expenses.
The Sun Life over 50s plan can be exclusive or used alongside other life insurance products, depending on your requirements.
Sunlife Insurance Reviews: The Not So Good Press Associated with SunLife
Not all the press associated with Sunlife life insurance UK has been good.
BBC Watchdog has in the past named the firm among those with over 50s plans that disappoint, with Martin Lewis of UK’s Money Saving Expert advising readers that it isn’t always the best plan and should be considered carefully.
The principal reason behind the negative aspects only relates to the guaranteed over 50s plan because people live longer.
SunLife currently offers the lowest premiums, starting at just £3.80 per month. Still, those premiums are for life, so while the plans will pay a fixed sum if a policyholder dies within a year or two of the policy starting, the same amount will be paid if a customer pays into the account for 40 years.
The longer you live, the more likely you’ll pay more than the plan will pay out to beneficiaries.
SunLife has taken a proactive approach to address consumer concerns. As of now, customers can choose a Premium Cap Option.
This enables customers to pay a higher premium for a fixed payout, but with the guarantee that premiums aren’t paid for life. Without choosing to cap premiums, all quotes will be payable for life.
With the SunLife Premium Cap options, customers can make an informed decision and choose to limit the amount paid into the plan over a fixed term. We hope you have found our sun life over 50 plan reviews helpful and look forward to hearing from you soon with any questions.
Sun Life Over 50 Plan Reviews Conclusion:
If you found this Sun Life review enlightening, you could benefit from life insurance. This is especially true if you have loved ones who would be affected financially by your death.
That’s why we encourage everyone to take a moment and consider whether or not life insurance is right for them.
You can complete one of our simple forms to receive a no-obligation quote. We hope this Sunlife life insurance UK article has helped explain life insurance and how it works. Thank you for reading.
Sun Life Over 50 Plan: Further Information:
1 Wythall Green Way
(registered in England, no. 05460862).
Financial Services Register Number 769427
Sun Life Insurance UK Contact Number:
To discuss taking out a new plan, call: 0800 904 7674 Mon-Fri: 8 am-8 pm, Sat-Sun: 9 am-5 pm
To discuss an existing plan, please call 0800 008 6060.