Whole of Life Insurance

Whole of life insurance is cover designed to last for the ‘whole’ of your life. In other words, it won’t suddenly stop when you reach a certain age, or at the end of a limited term. This means you get the cover you want forever. So, however old you are when it’s time to make a claim, we’ll be here for your family. And we’ll pay out everything all in one go.

About whole of life insurance

• It helps with Inheritance Tax: Inheritance Tax (IHT) can sometimes be a financial shock for those left behind. Your financial adviser can help by making sure your cover is written into trust (this means your payout is not included in the value of your estate). That means all the payout from your insurance will be available for your family to settle any IHT owed by your estate. Of course, your loved ones may still have to pay tax on other assets, such as your house. But the money from your whole of life insurance cover will be there to help pay any bills your family need to pay.
• It can ease funeral costs: With funeral prices rising, you might be worried about how much your loved ones will need to pay towards your funeral. We know it’s not a nice thing to think about, but do remember your life insurance can be used to contribute to these costs.
• It can help with your legacy: Whole of Life Insurance can help to ease the financial burden for those you leave behind. But there’s your legacy too. And that’s exactly what a Whole of Life insurance policy can help with. The money you leave can make a real difference, which really means that your life insurance can help you be there for your loved ones.