Whole of Life & Level Term Insurance

According to reports, only 7% of UK families feel they have adequate life insurance protection.

‘Whole of life’ insurance is a plan that provides cover for the duration of your life and is designed to last as long as you do, rather than for a fixed term. This means that, whenever you die, your loved ones will receive a cash lump sum no matter what happens, providing all premiums are paid when due.

That sounds simple enough, and a valuable benefit to have for future financial planning. 

Whilst ‘Whole of Life’ insurance can be more expensive than a ‘term assurance plan’ it is certain that the life company will eventually have to pay the sum insured. Monthly premiums are invested by the insurer into a life fund. 

‘Level term’ insurance means that the amount you insure yourself for will not change over time, this type of policy is normally used to protect your family or cover an interest only mortgage and therefore cheaper than a ‘whole of life’ plan.

To get more information on either Whole of Life or Level Term cover – complete the form for a FREE no obligation quote.