SunLife pays record £88.75m in life insurance claims during coronavirus pandemic

SunLife’s Guaranteed Over 50 Plan paid out a record £88.75m in claims in 2020, the over 50s specialist has revealed.

SunLife is the market leader in over 50s plans, selling more of them than every other provider put together and, as a consequence of its strong growth and the ongoing coronavirus pandemic, saw a record number of claims in 2020.

SunLife also waived the usual one year ‘waiting period’ for full cover for anyone who bought their plan before the first lockdown and then died of coronavirus; the only Over 50s plan provider believed to have done so.

This means that while other providers may not have given those customers their full pay-out, SunLife did.

“We were the only over 50s life insurance provider we know of to do that,” says marketing director Ian Atkinson.

“We felt it was something we could do to help, and the plan has paid out around £580,000 in claims from that gesture alone.”

SunLife is now launching a new campaign focusing on how it’s over 50s plan pays 100% of claims.

“At a time when so much seems uncertain, insurance that guarantees to pay your claim is some much-needed peace of mind for many people over 50,” Atkinson said.

Find out more here - Guaranteed Over 50 Plan

Published: 10 February 2021