Whole of Life Insurance
Whole of life insurance
lasts throughout your life, unlike term insurance which is for a specified period only. This means that your dependants would be guaranteed a payout.
Whole of life assurance can also be be used as part of your Inheritance Tax Planning where your estate is likely to exceed £325,000.
Phone us on 0800 458 3525 for further information and advice.
Whole of life assurance can be a useful way of ensuring your dependants have enough money to pay for your funeral expenses.
Click here for an Over 50s Funeral Plan quote from Engage Mutual.
Whole of life insurance
invariably costs more than term assurance.
Whole of life
policies can seem attractive because most (but not all) have an investment element and therefore a surrender value. If, however, you cash them in you cancel the policy and lose your life cover.
Where there is an investment element, your monthly premiums are first used to 'buy' units in an investment fund offered by the insurance company. This will calculate the cost of the whole of life cover for the next month and deduct the charge by 'cancelling' just enough units to pay for this life cover.
The investment growth of the fund will depend on how much is being deducted to pay for the whole of life cover. Premiums are usually reviewed after 10 years and then every 5 years.
Whole of Life
plans are also now available without an investment element and also with guaranteed premiums from some providers. We can also offer single premium whole of life and limited premium whole of life plans.
We can offer you the facility for an online quote for Whole of Life Insurance, but would strongly recommend that you also speak to one of our qualified advisers for some detailed advice because a whole of life policy isn't necessarily the appropriate for everyone. Fill in our enquiry form if you'd like one of our advisers to call you back with some expert, no obligation advice. Enquiry Form
WHOLE OF LIFE INSURANCE ONLINE QUOTE