About SunLife
SunLife is the UK's biggest over-50s plan provider by number of policyholders. They are widely advertised on TV and are often the first brand people think of when looking for over-50s life insurance. Their plans are underwritten by Phoenix Life.
SunLife over-50s plan — key features
- Guaranteed acceptance for UK residents aged 50–85
- No medical questions
- Fixed monthly premiums (never increase)
- Cover from £1,000 to £18,500
- Premiums stop at age 90 but cover continues for life
- Funeral benefit option available (up to £300 extra)
Is SunLife over-50s plan good value?
This depends entirely on how long you live. Like all whole-of-life plans, if you die early you may get a good payout relative to premiums paid. If you live for many years, total premiums paid may exceed the payout. SunLife's premiums are competitive but not always the cheapest in the market.
Alternatives to consider
Other guaranteed acceptance providers include Aviva, Legal & General, Royal London, and Post Office. Compare across multiple providers before committing, as premiums vary significantly for the same cover amount.
Pros and cons
- ✓ Guaranteed acceptance — no medical questions
- ✓ Fixed premiums
- ✓ UK's largest over-50s plan provider
- ✗ 2-year waiting period
- ✗ Limited cover amounts (max £18,500)
- ✗ Can be poor value if you live many years past the break-even point
Frequently Asked Questions
For funeral planning or leaving a small legacy, it can be worth it. For income replacement or mortgage cover, it's not suitable — the cover amounts are too low. Always compare alternatives before buying.
If you die within the first 2 years (except by accidental death), SunLife will refund your premiums rather than paying the full sum assured. After 2 years, the full benefit is payable whenever you die.