Client portal

Whole of Life Insurance

Whole-of-life insurance pays out a lump sum when you pass away, whenever that may be.

What is whole-of-life insurance?

Whole-of-life cover is a form of life insurance policy that ensures that your loved ones will get a lump sum payment from your insurer regardless of when you die. No matter when you die, your loved ones will receive a lump sum payout from your insurer.

This is quite different from a term life cover that only guarantees that your family will receive a payout if you die within the policy’s stated term. For the simple fact that insurers know they will have to pay out some money at some time, whole-of-life cover is usually more expensive than term life insurance. However, the payout, as mentioned, is guaranteed here.

Do I need Whole-of-life insurance?

Whole-of-life cover may be a good solution for you if you want to leave some form of inheritance to your loved ones and cover the inheritance tax bill, or if you want to help with your funeral costs. It will give you peace of mind that your loved ones will get a guaranteed payout when you die.

How to choose the right life insurance policy?

It can be difficult to decide what kind of policy you should buy. The first step to choosing a life insurance policy is to know how much coverage you need and how much you can afford to pay. Choosing the right policy requires some calculations and answering questions about your ability to save and invest.

We can help you compare insurance policies to find the right coverage for you, at the right price. Please contact us to discuss your situation and get professional advice.

Inheritance Tax planning is not regulated by the Financial Conduct Authority.