Whole of Life Assurance Policy

Whole of life assurance policy pays out a lump sum in the event of death, whenever it occurs.

The cost of the premium is higher than regular term assurance but it generally has a surrender value too. The premium may also include an investment element which helps you pay the cost of the cover over the period of time.

What is whole of life Assurance?

Whole-of-life insurance, also known as whole-of-life assurance, is a type of life assurance that protects you for the whole of your life rather than a specific period of time, such as 30 years. It means that as long as you pay your premiums, you will be covered under this policy no matter how long you live.

Some insurers require you to stop paying premiums after a certain age, and others require you to pay until you are alive.

How does whole of life assurance policy work?

Once you’ve chosen the policy, you’ll  pay a monthly  premium. With whole-of-life insurance your family is guaranteed to receive a pay out when you die. It gives you peace of mind that your loved one will have financial security no matter what. 

Unlike Term Life Insurance which has a policy end date, Whole-of-life insurance does not have an end date, it ends when you die. That is why the pay out is guaranteed. 

Reasons to Buy a Whole of Life Assurance Policy:

Peace of mind knowing that if you die, your loved ones will get a pay out

Over your lifespan, the cash value of your plan will be a tax-free stream of funds.

Assist the family in not spending too much in inheritance tax.

Inheritance duty is now 40% on the value of the assets if it exceeds £325,000. When you buy whole-life insurance and put it in a trust, you won’t have to pay inheritance tax on it.

If you are looking to buy a whole of life assurance policy our qualified and experienced insurance advisor will help you to find the right policy as per your need. To know more about Income protection Insurance and its coverage please contact us for more information and to meet with one of our advisors or call us on 02080950120 or email us on info@mountviewfs.co.uk


    Mountview Financial Solutions is a trading style of Rosemount Financial Solutions Ltd who are an appointed Representative of Quilter Financial Services Ltd and Quilter Mortgage Planning Ltd, which are authorised and regulated by the Financial Conduct Authority. Registered as a company in England and Wales No. 5676603. Registered Office: Rosemount House, 2-4 Chequers Road, Basingstoke, United Kingdom, RG21 7PU.

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