Whole of Life

Family is important, and it’s always important to get expert advice to help you protect what matters for when it matters.

What is It?

Unlike a Term life insurance plan which would cover you for a fixed period and pays out a one-off lump sum in the event of your death during the policy term, a whole life insurance policy is for the rest of your life. Sometimes, providers won’t increase the premiums during your lifetime but you may find over time some premiums get more expensive- especially if you live to a grand old age. Other insurers might have a cut off of payments once you reach a certain age- however, cover continues until your death.

With some whole life insurance policies, you can add additional options- for example, critical illness cover. If you choose this, the plan will pay out once a diagnosis of a qualifying critical illness.

Who Is It For?

This type of plan is designed for those who want to leave a lump sum in the event of their death. Whole Life assurance can protect your loved ones from the financial implications of a personal tragedy and is especially important if you have young children or dependents.

It can be used to cover a mortgage, other loan or also to ensure that your family is protected from the effects of debt repayment after the main income provider has passed away. You might wish to consider a waiver of premium with your policy- this will cover your monthly premiums if you fall ill and can’t make the payments.

As advisors we can assist you find the plan most suitable to your requirements.