This type of insurance is extremely useful in Inheritance Tax planning (if used alongside the appropriate trusts) but it can also help towards funeral costs, the repayment of outstanding debts or simply be a sum of money to leave your loved ones. Whole of Life assurance, as the name suggests, is a policy that lasts throughout your life so your dependants are guaranteed a payout whenever you die. Because you are certain to die while holding the policy, premiums are higher than for standard life insurance where the policy length is determined on application.

• Provides a cash payment whenever you die – perfect if you want your dependants to receive a one off guaranteed lump-sum payment when you die
• You can put your plan in trust to guard against inheritance tax and make sure the money goes into the right hands.
• As it’s guaranteed to pay out on death, you only need to go through the application and underwriting process once.
• Do you anticipate an Inheritance Tax liability when you die? Whole of Life Insurance can be used to provide funds for your family to meet this liability.

We believe that correct and relevant insurances are the foundation of your financial planning and security and it’s therefore worth spending the time getting it right. Get in touch today for a free, no obligation protection review.