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Sun Life Over 50s Plan Life Insurance Reviews 2024

Elaine Brookes Steve Case

Author: Steve Case - Insurance Expert

Reviewed & Fact Checked By: Elaine Brookes

Updated: 5th March 2024

sun life life insurance reviews

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 2024, 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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sun life over 50 plan reviews

Why should you consider the SunLife over 50 plan?

When considering life insurance options for those over 50 in the UK, one policy that stands out is the SunLife over 50 plan. This particular policy, previously known as the ‘SunLife guaranteed over 50 plan’, offers numerous benefits that may make it an attractive choice.

One of the key advantages of the SunLife over 50 plan is its lifelong coverage. This means the policy will remain in effect for the rest of your life, providing security for you and your loved ones.

Upon your passing, the plan guarantees a cash payout to your family, offering financial support during a difficult period.

This payout can be used for various purposes, such as covering funeral expenses, settling unpaid debts or bills, establishing a retirement fund for your partner, or even leaving an inheritance.

The SunLife over 50 plan is also the UK’s most trusted over 50 life insurance policy.

This level of trust is built upon SunLife’s reputation for paying out 100% of valid claims, ensuring that your family will receive the intended financial support when they need it most.

Additionally, the plan offers guaranteed acceptance to applicants aged 50 to 85, meaning you can secure coverage regardless of your health or medical history.

Affordability is also an important feature of the SunLife over 50 plan. With low monthly premiums starting from just £5, you can protect your loved ones without straining your budget.

This accessibility makes the policy attractive for people seeking comprehensive coverage and affordability.

It’s important to note that while the SunLife over 50 plan provides immediate cover, full payout benefits are subject to a 12-month waiting period. However, once this waiting period has passed, the policy will offer complete coverage, bringing you peace of mind.

  • Its lifelong coverage, guaranteed acceptance, low premiums, and reputation for paying out claims make it a popular choice among individuals in the UK.
  • By considering your circumstances, financial goals, and the needs of your loved ones, you can determine whether the SunLife over 50 plan is the right insurance option for you.

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 2016’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 insurance over 50
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sun life over 50s

Sun Life Over 50s Plan Summary

FeatureNotes
Guaranteed AcceptanceYes
Medical QuestionsNo
Guaranteed Financial ProtectionYes
Free Gift Value£100
Monthly PaymentsStarting from £3.70 per month
Full CoverageAfter one year of having the plan
Immediate CoverFor accidental death
Funeral Benefit Option£250 contribution towards the funeral
Claim Payout100% of claims, usually within three days or fewer
CoverageFully covered after one year of having the plan
Premium TerminationInsurance 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 CardUp to 50% savings at thousands of independent restaurants
Big Cash DrawChance to win £10,000 in the Big Cash Draw every two months
Over 50s Life Insurance GuideFree downloadable guide about life insurance for over 50s
SunLife’s RatingHighly rated by customers on Feefo and Trustpilot
Plan ProviderPhoenix Life Limited trades as SunLife
Funeral Benefit ProviderDignity Funerals Ltd arranges and provides funeral services
benefits of life cover

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 8,054 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 28,898 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.

These are:

Trust

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.

Affordability

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.

Simplicity

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:

  1. Your policy must have been in place for one year
  2. 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.

How do you make a policy claim for a SunLife over 50 plan?

To make a policy claim for a SunLife over 50 plan, you have a couple of options. You can contact SunLife directly by phone at 0800 008 6060 during their operating hours, Monday to Friday, from 08:30 to 17:30.

If your plan includes the funeral benefit option, it’s essential to contact the funeral director directly.

SunLife is committed to paying out 100% of valid life insurance claims, typically within three working days. You can visit the SunLife website or contact Insurance Hero for additional information.

For how long will you be paying premiums?

The duration of the premium payments for your policy will typically continue until you pass away. Selecting a monthly amount that works with your current budget and will remain manageable in the future, especially after you retire, is crucial.

It is important to note that any missed payments can potentially void your policy, so ensuring consistent payments is a must.

How much does SunLife over 50 life insurance cost?

FeatureDetails
Insurance ProviderSunLife
Plan TypeOver 50 Life Insurance
Premium Range£5 to £74 per month
Factors Influencing CostAge, Smoking Status, Coverage Amount
Maximum Payout£18,000
Sum Assured for £15/month Premium (Non-Smoker)Age 50: £4,527
Age 55: £3,985
Age 60: £3,520
Age 65: £2,914
Age 70: £2,192
Age 75: £1,562
Age 80: £1,123
Sum Assured for £35/month PremiumAge 50: £10,946
Age 55: £9,537
Age 60: £8,435
Age 65: £6,988
Age 70: £5,275
Age 75: £3,743
Age 80: £2,694

When will a SunLife life insurance policy payout?

SunLife life insurance will pay out the total sum assured to your family upon your passing once the initial waiting period of 12 months has been completed.

During this time, if you pass away due to natural causes, a full payout may not be made, but your loved ones will be refunded any premiums you have paid.

However, if your passing is a result of an accident within the first 12 months, SunLife will pay out the full sum assured under the accidental death cover.

Once the waiting period is over, you will be fully covered for death due to any reason, and your loved ones can claim the full sum assured.

It is important to note that SunLife guarantees a 100% payout of valid life insurance claims, typically within three working days.

What Is the SunLife Guaranteed Inheritance Plan?

The SunLife Guaranteed Inheritance Plan is a life insurance option designed for people aged 50 and above. It offers lifelong coverage and ensures a guaranteed payout to beneficiaries upon the policyholder’s passing, much like an over 50s plan.

However, this plan distinguishes itself by offering a higher maximum payout of up to £50,000. To qualify for this plan, applicants are required to provide specific medical details on the application form.

Therefore, it is most suitable for individuals over 50 in relatively good health.

Sunlife Insurance Reviews And Over Fifties Plans In The Press

There has been some slightly negative reporting in the press. This relates to the guaranteed over-50s plan because people live longer.

SunLife currently offers the lowest premiums, starting at just £5 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:

Head Office:
1 Wythall Green Way
Wythall
Birmingham
B47 6WG
(registered in England, no. 05460862).

https://www.sunlife.co.uk/over-50-life-insurance/

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.