SunLife Life Insurance Review
This article was last updated:
Our experts review costs, policy features, and customer feedback on SunLife's range of Life Insurance policies.
This article was last updated:
Our experts review costs, policy features, and customer feedback on SunLife's range of Life Insurance policies.
SunLife is a 200-year old insurer, with a particular focus on Over 50s life insurance.
But did SunLife make the list of the Top 10 Over 50s Life Insurance providers this year?
In this guide:
SunLife traces its roots to 1810 – the year it opened an office right opposite the Bank of England in the City of London.
It was the very first company to offer life insurance without requiring a medical exam, as long ago as 1900. SunLife has also been a front-runner when it comes to over 50s life insurance, which it launched in 1979.
Today, SunLife claims that its Guaranteed Over 50 Plan is the nation's most popular Over 50 life insurance policy, covering more than 870,000 policyholders.
Since 2017, SunLife has been part of Phoenix Group – the some company that owns Phoenix Life Insurance.
SunLife offers a variety of policies for UK residents. They are focused on the Over 50s and include Over 50s Life Insurance, and Funeral Cover, as well as equity release.
SunLife offers Over 50s life insurance policies for UK customers, starting at £3.70 per month. Prices don't increase over time, and you currently receive a £110 gift card when buying a new policy.
Is SunLife a good insurance company? More thatn 5,000 customers, who rated Sunlife 4.7/5 on Trustpilot seem to think so.
SunLife's UK customers have given the company positive feedback on their Life Insurance policies. They appreciate the company's straightforward approach to policy coverage and the competitive prices they offer. Customers also find the online quote system to be easy to use and appreciate the company's prompt responses to questions and concerns.
SunLife's Over 50s Life Insurance policies are designed to provide a guaranteed cash pay out of up to £18,000 on your death.
However, there are a few things to consider before taking out a policy with SunLife. As with all Over 50s life insurance policies, it's important to bear in mind that contributing to a regular savings account may be a more cost-effective option.
SunLife says that it pays 100% of claims – usually within 3 days. See how this compares to the UK industry average for whole of life insurance.
Life insurance can be a tax deductible business expense in certain cases. For example, if the life insurance policy is taken out on a key employee, the premiums can be deducted as a business expense. Additionally, if the life insurance policy is used as collateral for a business loan, the
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