What is it?
As the name implies, this type of life assurance pays out when you die, whenever that may be. It is usually, but not always, a more expensive option than term assurance simply because the life assurance will definitely pay out at some point, as long as premiums are maintained.
We only offer advice on non-investment Whole of Life policies.
Who is it for?
This type of plan is designed for those who want to leave a lump sum in the event of their death, whenever it may occur.
It can be used for the following;
- Inheritance tax liability
- Funeral costs
- Debts that are likely still to be there when you die.