Whole of life insurance is designed to pay out a lump sum of money when you die. A whole life insurance policy is much the same as a normal term life insurance policy but without a defined term. Whole life cover guarantee’s to pay out on death and is a policy that you keep until you die. A policy can be taken out as a single life or a joint life and you can choose weather you would like it to pay out on first on second death. As with normal life insurance a whole life insurance is designed to pay out a lump sum to your family which can provide an income or pay off any outstanding debts. Many people use whole of life insurance for inheritance tax planning. You can calculate your IHT tax bill and take out a policy to cover this amount, place it in a trust to pay out to your beneficiaries on your death. Trust & taxation is not regulated by the financial services authority and we would always reccoment you seek the guidance of a local tax expert. Please fill in your details in the form provided to get a whole of life insurance quote and one of our advisors will call you shortly.
Low Cost Prices
As brokers we are paid a commission from each whole life policy we set up. By re-bating our commission we are able to discount the prices of the cover. Along with being whole of market, this means we are able to offer low price quotes.
How Much Does it Cost?
Whole of life insurance quotes depends on a number of factors. Of course age is the biggest factor along with health, sex and occupation and smoker status. The amount of cover you choose will also have a big effect so to keep the premiums lower you may want to think carefully about how much cover you need.
Whole Life V’s Term Life Insurance
The main big advantage to whole of life v’s term life insurance is the fact of the guaranteed pay out on death. Term life is often taken out to cover a mortgage over a certain amount of time such as 25 years. After 25 years the insurance cover will cease and will need to be renewed. Whole of life insurance does not need to be renewed and will cover you until death. Please feel free to give one of our qualified advisors a call or fill in the form to get a whole life insurance quote.
Whole of life policies are for pure protection only & contain no investment element