For more than 50 years, UK life insurance over 50s has been one of the most sought-after options when it comes to future planning. Among the top two most prominent suppliers are Sun Life and Aviva, then which one suits you best? Let us decipher the primary features so that you can take an educated decision.
What Is Over 50s Life Insurance?
Over 50s life insurance is an insurance plan for those between 50 and 85 years old. In contrast to conventional life insurance, the provision of the policy is on absolute guaranteed acceptance without medical checks. You make a payment every month, and the insurance money, which is a lump sum, is given to your family after your death.
Sun Life Over 50s Life Insurance
Considered as one of the most famous suppliers in the UK, Sun Life is the solution.
Just some of the main features are:
- Open acceptance guaranteed for people 50–85 years of age.
- The premiums are per month and are of fixed value.
- Death benefit will be paid a year after the policy has been taken out (or two years, depending on the plan).
- No funeral straightforwardness.
- A brand with trust and stability.
What can it do the most: Those who want to opt for a simple, famous, and reputable insurance company
Aviva Over 50s Life Insurance
Aviva is yet another top-notch brand in the UK insurance market that provides flexible over 50s plans.
Key Features:
- Guaranteed acceptance policy for those aged 50 to 80.
- Flexible cover options ranging from which different budget can be chosen.
- The payment of the premiums stops at the age of 90, however, the cover keeps going for life.
- Optional death benefit to help with the funeral.
- One of the UK’s largest insurance companies covers the risk.
Best For: Those who want a variety of options and are okay with a lower maximum age.
| Feature | Sun Life | Aviva |
|---|---|---|
| Age of Acceptance | 50–85 | 50–80 |
| Medical Checks | None | None |
| Premiums | Fixed for life | Stop at age 90 |
| Funeral Benefit Option | Yes | Yes |
| Payout | Guaranteed | Guaranteed |
Which One Should You Choose?
- If you desire assured acceptance up to 85 and a well-known reliable insurer, then Sun Life is the right choice for you.
- If you like having various cover options and the advantage of not making premium payments after 90 years, then Aviva is the one for you.