Whole of life insurance
What is whole of life insurance?
Whole of life cover guarantees that the insurer will pay out a lump sum to your loved ones whenever you die, rather than within a specified time frame.
Another commonly used name for this type of policy is whole of life assurance.
How does whole of life insurance work?
When you set up your policy and after choosing the payout you want, you will start paying a monthly premium.
If you continue paying your premiums, the policy will pay out on your death, whenever that is.
Whole of life protection normally has a higher monthly premium than life insurance with a term. Advice is available to help you make the right decision.
See Life Insurance for further information.
As with all insurance policies, conditions and exclusions will apply.
