Whole of Life Cover
Whole of life insurance is a life insurance policy that guarantees your family get a
payout when you die.
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WHAT IS WHOLE OF LIFE INSURANCE?
Unlike term life insurance, which has a policy end date, whole of life insurance only ends when you die*. This is why the payout is guaranteed and the cover is also called life assurance. Whole of Life insurance can be beneficial if you’re thinking about leaving a legacy for your family, help towards funeral costs, inheritance tax purposes or protecting your business after you’re gone.
- This life insurance policy continues your entire life and guarantees to pay out the full sum assured whenever death occurs
- You can usually apply if you're a UK resident between the ages of 18-80.
- Medically underwritten
- Premiums are higher than a term policy as it is a guaranteed payout
- Traditionally taken out for things like help towards funeral costs, to leave a small cash lump sum to their families or for inheritance tax reasons
- Single or joint policies available
Why Whole of Life Insurance?
Whether you are looking for help towards inheritance tax, funeral costs, or looking to leave some money behind for your family, whole-of-life protection could be a good fit for you.
