Whether the SunLife over 50 plan is worth it depends on how long you live and what you want the money to do. The Guaranteed Over 50 Plan pays a fixed cash sum when you die after the first year, and SunLife's own documents say you could pay in more than it pays out. Here are its published figures set against each other.

A few contact details are all the form on this page collects; an FCA-authorised broker then telephones to discuss over-50s cover at your age, free of charge. It is not a SunLife quote.

The trade you are making: a fixed sum for fixed payments

SunLife's Guaranteed Over 50 Plan terms and conditions (print code S-G050T12.25.V3, no printed date) describe the plan as a whole of life policy that pays "a fixed cash sum" which "stays the same throughout the life of the Plan". The same document says three things that bear on value:

Depending on how long you live, you could pay more in premiums than the cash sum paid out.
Inflation will, over time, reduce the value of the cash sum paid out on your death.
The Plan has no cash-in value at any time.

Against that, SunLife's website lists what you get: acceptance is guaranteed for UK residents aged 49-85 with no medical questions, and SunLife says it guarantees never to increase your monthly premium. The plan buys certainty about acceptance and monthly cost, and in return the payout is modest and does not grow. The SunLife over 50 plan page has the full detail, and the claim page covers a death.

How many payments before you have paid in the whole payout?

SunLife's website shows what a non-smoker could get from the plan for £20 a month, for new customers, correct as at October 2025. The table sets those payouts against the premiums, using simple arithmetic of our own. It is hypothetical: £20 is paid every month, and premiums stop at about the 95th birthday.

Age at startPayout for £20 a monthPayments before premiums pass the payout (our sum)Premiums if paid to about 95 (our sum)
50£5,694285 (about 24 years)about £10,800
60£4,470224 (about 19 years)about £8,400
70£2,776139 (about 12 years)about £6,000
80£1,44273 (about 6 years)about £3,600

Read it from both ends. Someone who started at 60 and died after ten years would have paid in £2,400 against a payout of £4,470, so the plan paid out more than it cost. Someone who started at 60 and lived to 95 would have paid in about £8,400 against the same £4,470. Nobody knows in advance which they will be, so the honest verdict is that the value depends on how long you live. These are illustrations for new customers at that date, not what you would be offered.

On the free call, a broker can talk through what your age and smoking status would mean for over-50s cover more generally.

The first year, and what stopping early costs you

The full cash sum is not payable in the first year: a death in that year returns the premiums paid. The exception is an accident, where the policy summary says the cash sum is paid when the injuries cause death no more than 90 days after the accident; natural causes and illness are among the causes that rule the accident payout out.

The bigger risk to value comes later. SunLife's policy summary says that if you stop paying your premiums when due for any reason, the plan is cancelled and you would not get any money back, so every pound already paid is lost with the cover. The grace period after a missed payment, the six-month route back and the one-off option to lower the premium are set out on the SunLife over 50 plan page.

So the plan is worth most to someone who can keep paying for life, and SunLife's page says you should be comfortable with the monthly cost. A £135 gift card offered to new customers until 16 December 2026 (SunLife's website, read October 2026) is sent only after six monthly payments, can be withdrawn by SunLife at any time and changes neither the payout nor the premium. See also cancelling life insurance and funeral cover waiting periods.

Over 60, over 70 or over 80: how age changes the value

Whether you start at 50, 60, 70 or 85, you are buying the same Guaranteed Over 50 Plan, and the questions at the end give SunLife's age rules. What changes with age is how much each pound buys. In the table above, £20 a month buys £5,694 at 50 and £1,442 at 80. SunLife's website says its over-50s cover could cost anything from £4 to £74 a month, depending on age and smoking status, and cannot exceed £100 a month or £18,000 of cover across all your SunLife plans.

Older customers pay in the whole payout sooner, but the sum is smaller. For scale, SunLife's Cost of Dying Report 2026, drawn from research in 2025, gives £3,828 as the average price of a simple attended funeral, and SunLife says its plan does not guarantee to cover the full cost of a funeral.

Who the plan suits, and who might look at term or whole of life

SunLife's terms say the plan meets the needs of "those who want to use life cover to leave a cash sum on death", for example towards funeral expenses, outstanding debts or a legacy. These are points to weigh, not advice:

  • It may fit if you want acceptance without health questions, a fixed monthly cost and a modest sum, and can keep paying for years.
  • If you are healthy and want a larger sum, cover that asks about your health may be worth a look: see whole of life pros and cons and term vs whole of life.
  • If the need has an end date, such as a mortgage, term cover ends with its term and may fit better: term life pros and cons.
  • If you want a funeral fixed in advance, SunLife's page on direct cremation plans says the cost "won't be affected by inflation later". That is a different product; see funeral plan or life insurance and direct cremation costs.

On tax, life insurance payouts explains the general position. For other plans, see whether over-50s plans are worth it and what they cost, or return to over-50s and later life.

When you want a broker to weigh up cover at your age, use the quick form on this page; talking it through on the phone is free.

Frequently asked questions

What is the SunLife age limit for the Over 50 Plan?

You must be aged 49-85 and a UK resident when the plan starts. Premiums then stop at the policy anniversary on or after your 95th birthday, and cover carries on for life.

Is there a separate SunLife plan for people over 60 or over 70?

SunLife's website says over 60s life insurance is the same as over 50s life insurance, and that you can apply for the Guaranteed Over 50 Plan whether you are over 50, 60 or 70.

Sources