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Whole of Life Insurance

Whole of Life Insurance

COVER YOUR FAMILY'S FUTURE FOREVER

Get Whole of Life Insurance
  • A promise that lasts a lifetime, ensuring your loved ones are always taken care of.
  • No expiration date means you're covered for life, not just for a term.
  • Guaranteed coverage that ensures your family's financial comfort, no matter how life unfolds.

COMPARE WHOLE OF LIFE INSURANCE QUOTES FROM LEADING PROVIDERS

Secure lifelong peace of mind for you and your loved ones with comprehensive coverage options tailored to your needs. Our partnered adviser will compare quotes to find the most suitable option for you.
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WHAT IS WHOLE OF LIFE INSURANCE?

Whole of life insurance is like a lasting promise. It ensures that when you're no longer around, your loved ones receive a tax-free cash amount.

This money can help with ongoing expenses, settling debts, or even supporting your family's dreams and aspirations. It's there to provide continuous care and financial security for your family, no matter what the future holds.
How much Whole Life Insurance do I need?
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HOW DOES WHOLE OF LIFE INSURANCE WORK?

Whole of life insurance ensures continuous financial protection for your loved ones, regardless of when you pass away. Since this policy lasts your entire lifetime, your designated loved ones are guaranteed to receive a lump sum upon your passing, providing them with lasting financial security.

Application

Start by providing personal details, including age, health status, and lifestyle habits. This information helps insurance companies gauge your risk level and decide on your eligibility and premium rates.

Choose Your Coverage

Pick a policy that fits your needs, understanding its terms and the required premium payments. Ensure you make these payments regularly to keep the policy active.

Payout & Claim

Since whole of life insurance doesn't expire as long as premiums are paid, there's no set "term." Whenever you pass away, your beneficiaries will initiate a claim.

REASONS TO TAKE OUT WHOLE OF LIFE INSURANCE

  • 1

    Lifelong Coverage

    Unlike term insurance, whole of life insurance ensures coverage for your entire lifetime, guaranteeing a payout to your beneficiaries upon your passing.

  • 2

    Money Back Option

    Some of your payment goes into a special fund. As it gets bigger, you can use it if needed or even borrow from it.

  • 3

    Cover Final Expenses

    The death benefit ensures that funeral costs, medical bills, and other final expenses don't burden loved ones, providing immediate financial relief during a challenging time.

  • 4

    Fixed Premiums

    Premiums stay the same, so you won't pay more as you get older. This helps you plan your finances better.

YOUR WHOLE OF LIFE OPTIONS

FIXED

Get a fixed payout upon passing, with your premium staying the same throughout life. It's ideal for ensuring your family's financial security with predictable costs.

FLEXIBLE

Adjust your coverage and payments as your life changes. More coverage when needed, less in later years. Perfect for adapting to your changing financial needs.

UNIT-LINKED

Part of your premium is invested[1], with the policy's value tied to investment performance. Offers potential for higher returns but comes with more risk.

[1]The value of investments and the income they produce can fall as well as rise. You may get back less than you invested.

HOW MUCH DOES WHOLE OF LIFE INSURANCE COST?

The cost of whole of life insurance varies for everyone. It depends on several things:
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    Age

    The younger you are when you start, the less you pay. This is because insurers see younger individuals as lower risk, with a longer time to pay premiums before a claim is made.

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    Health

    Being in good health might reduce your costs. Insurers often require medical exams or health questionnaires, and pre-existing conditions or health risks can raise premiums.

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    Cover Amount

    The more money you want as a payout, the higher the premium. It's essential to balance the need for security with the monthly or annual premium you can afford.

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    Lifestyle

    Habits like smoking or heavy drinking can make insurance more expensive. Engaging in high-risk activities or sports can also impact your rates.

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    Policy Length

    While whole of life insurance is lifelong, some policies might have varying terms or conditions. For instance, some might offer fixed premiums for the first 20 years and then adjust.

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    Policy Extras

    Adding features or riders, like accidental death benefits or premium waivers in case of disability, provides more protection but can also increase the cost.

HOW MUCH COULD A POLICY PAY OUT?

Whole of life insurance payouts can vary based on several factors, with age being a significant one.

Below is a table illustrating the average monthly premium costs and potential payouts across different age groups in the UK. This provides a general overview, but individual policies and circumstances can differ.
Age Group Monthly Premium Cost Average Payout
20-30 yrs £50 £200,000
31-40 yrs £70 £250,000
41-50 yrs £90 £300,000
51-60 yrs £120 £350,000
61+ yrs £150 £400,000

Unlike term insurance, which covers you for a set period, Whole of Life insurance covers you for your entire life. This ensures long-term financial security for your family. Get a quote using our whole of life insurance form

Yes, it's a valuable tool for estate planning as it provides a guaranteed payout, which can be vital in managing inheritance taxes and leaving a legacy. Fill in our whole of life insurance form to get a quote now

Whole of Life insurance typically has higher premiums than term insurance due to the lifelong coverage and guaranteed payout. Get a personalised quote by using our whole of life insurance form

The tax implications can vary. It's important to understand how it fits into your overall financial plan. For detailed insights tailored to your situation, please speak to a financial advisor

Choosing the right policy depends on your financial goals and needs. Our whole of life insurance form can help you get a quote that fits you best.

Many Whole of Life insurance policies may include a cash value feature. To see if this feature is included in the policies we offer and how it could work for you, kindly fill out our whole of life insurance form

Borrowing against a Whole of Life insurance policy depends on the policy's specifics. For detailed information and options, please reach out to a financial advisor via our whole of life insurance form

Each policy has its own set of exclusions. To get the most accurate information, we recommend consulting with a financial advisor. You can get in touch with one by filling out our whole of life insurance form

To find out about combining Whole of Life insurance with other types, it's best to speak with a financial advisor. Please use our whole of life insurance form to get a personalised quote

The specifics of policy payouts can vary. For detailed information about your options, we suggest contacting a financial advisor through our whole of life insurance form
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What is a whole of life insurance policy?

Insurance that lasts your entire life.
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Death in service

How to get whole of life insurance

How to obtain lifelong insurance.
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Is whole of life insurance worth it?

Assessing the value of lifelong insurance.

HOW COVERME123 WORKS

At CoverMe123, we are dedicated to connecting you with our partnered expert adviser for your insurance needs. Our role is to bridge the gap between you and the experts, ensuring a smooth and efficient process. It's important to note that while we do not provide financial advice ourselves, we excel in guiding you to those who do. Here’s how our process works:

  1. Information Gathering: Fill out our online form with the details of the insurance you're seeking.
  2. Secure Handling of Your Data: We ensure the confidentiality of your information, using it solely to connect you with our partnered adviser
  3. Connecting You with the Adviser: Your information is passed on to our partnered adviser, who will then reach out to you for a detailed discussion.
  4. No Obligation Consultation: You are free to choose the policy that best suits your needs, without any obligation.
[1]The value of investments and the income they produce can fall as well as rise. You may get back less than you invested.
[2]Inheritance/Estate Planning/tax Planning are not regulated by the Financial Conduct Authority.
[3]Tax treatment varies according to individual circumstances and is subject to change.

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