Phoenix

The Guaranteed Over 50 Plan is an easy way to leave a fixed cash sum for your family after you've gone, either as a gift or to help towards funeral expenses.

The Guaranteed Over 50 Plan is a whole of life policy – choose a fixed monthly premium at the start and provided you keep paying them throughout your life and your Plan has been in place for at least two years, a fixed cash sum will be paid to your estate when you die.

If you die within the first 2 years of taking out your Plan, we will pay back all the premiums paid, plus half as much again.

No. There are no health questions to answer, and no medical whatsoever. Provided you're aged 50 - 85 you're guaranteed to be accepted.

That depends on how much cover you'd like or how much you'd like to pay each month. You can choose from a range of premiums anywhere between £5 and £74 per month (subject to a maximum life cover of £25,000). When choosing your level of cover, please bear in mind that because the cash sum is fixed, over time, inflation will reduce its value.

You need to choose a monthly premium you are confident you’ll be able to afford throughout your life because if you were to stop paying your premiums, your plan would be cancelled and you wouldn’t get anything back.

To help get your plan underway, the first premium is free.

No. Your premiums and level of cover are guaranteed, so will never change regardless of how long you live or your state of health. Depending on how long you live, the total premiums paid in may be more than the fixed cash sum paid out.

You can pay by Direct Debit. This ensures you never have to worry about forgetting your monthly premiums. When you apply online you will need to provide your bank details as part of the application.

This Guarantee is offered by all Banks and Building Societies that accept instructions to pay Direct Debits. If there are any changes to the amount, date or frequency of your Direct Debit, AXA Wealth Ltd will notify you 10 working days in advance of your account being debited or as otherwise agreed. If you request AXA Wealth Ltd to collect a payment, confirmation of the amount and date will be given to you at the time of request. If an error is made in the payment of your Direct Debit by AXA Wealth Ltd or your Bank or Building Society, you are entitled to a full and immediate refund of the amount paid from your Bank or Building Society. If you receive a refund that you are not entitled to, you must pay it back when AXA Wealth Ltd asks you to. You can cancel a Direct Debit at any time by contacting your Bank or Building Society. Written confirmation may be required. Please also notify AXA Wealth Ltd.

No. The Plan has no cash-in value so if you cancel your Plan or stop paying your premiums, your life cover will end and you won't get anything back. You need to be totally comfortable that you can keep up your premiums when you take out the Plan.

Once you've been paying into the Plan for 2 years, and as long as you keep paying your premiums for life, we will pay the full fixed cash sum on your death.

If you die within the first two years, we will payout one and a half times the premiums paid in.

Accidental Death Benefit would be payable during the first two years of your Plan, if you were to die in an accident, or within 3 months of the accident as a result of your injuires. Please see the Terms and Conditions for full details.

The amount paid out on your death will normally form part of your estate so may be subject to inheritance tax, unless you write your Plan subject to an appropriate trust.

Tax information is based on our interpretation of current law and HM Revenue & Customs practice. How taxation could affect you will depend upon your individual circumstances. Tax legislation may change in the future.

You have 30 days from the day you receive your policy documents during which you can cancel your Plan and have any premiums paid refunded in full.

After that, you can cancel your Plan at any time by notifying us in writing. Remember, if you do cancel, your life cover will end and you wouldn't get anything back. As long as you continue to pay your monthly premiums, your Plan cannot be cancelled by us for any reason.

AXA Wealth Ltd, which trades as Sun Life Direct is one of the UK's leading providers of life cover and the Guaranteed Over 50 Plan is the most popular Plan of its type*. Since the very first over 50s life cover plan was introduced in 1979, the team at Sun Life Direct have been continually responding to the life insurance needs of its customers.