SunLife opened its first office in London in 1810, and in 1900, became the first company to offer life assurance without the need for a medical. It launched its first over-50s life insurance plan in 1979. Today, it offers this core product alongside others aimed at an older age group, including funeral plans, home insurance and pet insurance. SunLife is a trading name of Phoenix Life Limited, which provides the over-
50s policies.
SunLife only offers one core life insurance plan, which is aimed at over-50s who are UK residents, and pays out a guaranteed lump sum when you die. SunLife pitches its guaranteed over-50s plans as a way for you to help loved ones cope with funeral costs, or simply to leave them a little something to remember you by.
SunLife Guaranteed Over 50 Plan
Like other over-50s plans, though, the maximum lump sum you’ll get is likely to be much lower than traditional life insurance policies. Payouts will depend on your age and monthly payments (the older you are when you take out the scheme, the lower the likely payout).
