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Sun Life Insurance

In the UK, Sun Life is one of the biggest and most well known insurers available on the market. They have had quite a few celebrity endorsements over the years, and more than 1 million people have signed up with them for their life insurance needs - indeed, over 50% of all insurance policy plans for people over the age of 50 currently held in the UK were granted by Sun Life. Since beginning operation in the early 19th century, Sun Life has made quite a name for themselves on the insurance market, and for various reasons.


What is Sun Life Insurance?

  • Sun Life is an over 50s life insurance company, part of the Phoenix Group, which is one of the biggest insurers in the UK.
  • Sun Life pays out a fixed cash amount to a customer’s family once the customer has passed away - it’s a guaranteed lump sum at the end of a person’s life, in order to cover funeral costs and other expenses.
  • Sun Life policies must be in place for at least a year before they are eligible for pay out. Once a pay out is issued, the money should be within a bank account within 3 working days.
  • Sun Life does not offer joint plans, but does allow more than one policy to a customer and/or household at a time.

Who is Sun Life Insurance Suitable for?

Sun Life offers life insurance policies exclusively to people aged 50 and over. After all, Sun Life is one of the most well known companies for providing over 50s life cover, and their Sun Life over 50 life insurance plan is one of the most popular in the UK.

The Perks of Sun Life Insurance

Sun Life insurance is known for being approachable and affordable; let’s run through its main perks as a UK insurance provider below:

  • A High Level of Trust
    Sun Life has a long history in the insurance business. Sun Life has been represented by Michael Parkinson for a good few years now, and in doing so, the company has gained and upfront and friendly reputation. Sun Life is what the market tends to think of when the phrase ‘over 50s life coverage’ is mentioned. This indicates a high level of trust between the company and the people it serves.
  • A Simple Screening Process
    Sun Life ‘do not ask any questions about your medical history’. As a result, Sun Life UK offers a simple screening process, which takes little to no time, and is highly accessible for most people over the age of 50. Sun Life takes the approach of needing neither medical reports or specific screenings in order to be accepted for an insurance policy. Indeed, with many over 50s already experiencing health problems, and in need of a coverage policy for these conditions as soon as possible, Sun Life prides itself on being able to foot the bill with little to no fuss.
  • An Affordable Premium Rate
    With the average monthly premium for life insurance costing about £15 (from the age of 16 onwards), with the price only increasing as you get older, Sun Life has a very affordable premium rate. Their premiums start at a rate of £3.70, which in comparison to the average of £20 for people over the age of 60, is incredibly affordable.

How Does Sun Life Compare?

In terms of over 50 insurance in the UK, Sun Life compares well to the rest of the market, across popular review sites like TrustPilot and FeeFo. In general, customer service is seen as excellent in quality, and fast and efficient in response.

  • On Trustpilot, they have over 1000 reviews, with a score of 4 and a half stars, meaning they are regarded as ‘excellent’ in customer opinion.
  • On FeeFo, they have a rating of 4.8 stars, with over 15,000 reviews to depend on, of which over a third are 4 stars and higher.

What To Be Wary Of

  • A company that offers cover solely for people aged 50 and over can take more than they pay out, and Sun Life has been accused of this in the past, and similarly, likes to make this fact known to customers before they settle into a life insurance policy with them.
  • In the modern day and age, people are living longer, and paying monthly premiums to cover funeral costs from the age of 50 onwards could mean 30 to 40 years of 12 payments annually. Depending on the payout of a policy, which could be anything between £2000 and £10,000, you could be paying in thousands more than you’ll ever get out again, and it could already be too late by the time you realise this.
  • Of course, Sun Life offers fixed lump sum amounts, rather than a savings plan for people to pay into and get all their money back when the time comes. Make sure you’re aware of this before taking out a life insurance policy with them, and ensure it’s the right kind of plan for your lifetime and funeral arrangements.

Have Sun Life Addressed these Concerns?

Since they were first brought to light in 2011, yes. Sun Life now offers premium caps for all customers, ensuring that customers will not have to pay their premiums over the course of their lifetime. However, the premium amount paid out each month is much higher than a policy without this cap.

Sun Life Insurance: In Review

Sun Life can offer someone over the age of 50 an affordable and quick solution to their life insurance needs. There is no medical screening, pay outs are fast, and in more recent times, monthly premiums can be capped to ensure you’re never paying in more than what you get out of a plan.

However, they have experienced negative connotations in the past, thanks to their premium rate, and may be less useful to a potential customer, compared to a normal savings account that can be left to a beneficiary after their death.

Discount Life Insurance…Why Use Us

We are an online advice service and as such have little overheads which enables us to give away more commission enabling us to me extremely competitive on price.

Having said all this, life insurance is not always about price and there are differences in the types of cover offered by providers. So we also provide an “advised sale” which means that we take on responsibility to make sure the policy you take is the right one and the most suitable for your circumstances.

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Our Happy Customers

The standard of service was first class. They kept me up to date with progress on my Relevant Life Policy, followed up promptly following delays caused by my medical practice being slow in compiling reports, and responded instantly and clearly to any questions I had.

- T Arnot

Everything was made very easy to understand. The quotes were the cheapest we found too. Very happy!

- P Law

We received a brilliant service from the team. We would be happy to suggest them to anyone for business insurance.

- Sam Harris

Jody was very helpful and got us the best price for what we wanted. We would highly recommend him to others.

- Jason Conor

A great brokerage for those looking for business protection. We would recommend them highly for business protection and personal insurance.

- Jane L

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