Review of SunLife Life Insurance

SunLife Life Insurance was founded in 1810. In 1900 they were the first insurance company to offer its policies free from the need to have a medical.

They provide term insurance for as low as £5 a month. You have the option of adding Critical Illness cover as well as a Waiver of Premium should you be unable to work. They also offer an Over 50 policy for as little as £54

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Pros
  • Quick, free quotes
  • Policy continues after Critical Illness payout
  • No medical or blood test required
  • Joint policies available
  • Fixed Premiums
Cons
  • No stand-alone Critical Illness cover, only as an add-on

Insurance Options: Our Honest Breakdown

SunLife insurance is also known as Sun Life Over 50 Life Insurance as it mainly provides to Over 50s, but they havepartnered with Scottish Friendly to provide a Family Life Insurance policy.

Family Life Insurance

Sun Life Family Life Insurance is available to residents of the UK 18 years of age up to 59. The policy will pay out the sum assured in the event of death. Cover amounts up to age 50 is £500,000 and from ages 51-59 the cover limit is £250,000.

You have the option of adding Critical Illness Cover to your policy. This cover pays out 25% of your life cover early if you are diagnosed with a specified critical illness. After this benefit is paid out the policy will continue. When death occurs the policy will pay out the sum assured minus the critical illness payout.

Terms can be from 10–40 years, but cover must end by age 70.

Over 50 Whole of Life

Sun Life Over 50 Life Insurance is whole of life insurance. It is available to UK residents ages 50-85, there is no medical required to apply, just a few health questions. You can select the cover amount up to £25,000. Premiums are fixed premiums from under £4 a month. Sun Life Over 50 plan provides the first month’s premium for free.

It will pay out a fixed cash sum in the event of death after you have paid for the plan for two years. If death occurs within the first two years the payout will consist of everything you have paid into it plus half as much again.

The policy has an Accidental Death Benefit. If you die as the result of an accident, we will pay the full cash, even if you’ve had your plan for less than two years

You can add the free Funeral Benefit Option and receive £300 towards funeral costs.

SunLife Life Insurance also offers a Capped Premium Option. This allows you to pay a higher premium at the beginning of your policy. Then after a certain amount of years you stop paying, you will still be covered for the full sum assured at the time of death.

Some of the Sun Life Over 50 plans come with the free gift.


Critical Illness Cover

SunLife Life Insurance offers Critical Illness Cover. This can be added to a Family Life policy.

The Critical Illness Cover pays out 25% of the life cover in the event of a heart attack, stroke, or a diagnosis of a specified cancer illness during the term of the policy.

Sun Life in Conclusion

SunLife Life Insurance is well known for their Sun Life Over 50 Whole of Life policies. It has been rated UK's Number 1 choice for Over 50 Life by ABI statistics.

Their partnership with Scottish Friendly, who themselves have over 150 of experience providing services to their customers, enables SunLife Life Insurance to provide Family Life Insurance to its customers.

SunLife Life Insurance does not provide advice on what policy is best for its customers. In order to find the best policy to meet your financial needs, you would need to consult your financial adviser.

Various offers by Sun Life Over 50 insurance

SunLife Life Insurance provides a number of benefits and packages, including;

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