Back to cover types
Whole of life insurance
Whole of life insurance covers you for your entire life, not just a fixed term. It guarantees a payout to your beneficiaries whenever you die, provided you keep paying the premiums.
What it covers
- A guaranteed lump sum on death at any age
- Funeral costs and final expenses
- Inheritance tax planning and estate equalisation
- A legacy for children or grandchildren
Who it's for
- People who want a guaranteed payout
- Those planning for inheritance tax or funeral costs
- Older applicants who may not qualify for term cover
- Anyone looking to leave a guaranteed legacy
Pros
- Guaranteed payout, whenever death occurs
- Can be used for estate planning
- No need to renew or extend cover
Considerations
- Premiums are usually higher than term insurance
- You may pay in more than the policy pays out
- Some plans have reviewable premiums that can increase
Ready to protect your nest egg?
Get a free, no-obligation quote and see how whole of life insurance could work for you.
GET A FREE QUOTE