Whole of life protection ensures that you are covered for the remainder fo your life. As long as you continue to make your premium payments you will never be without cover. This means you have the greatest level of cover available for your dependants.
With whole of life cover you can lock in a premium when you're young and in good health. This is not a static premium but mostly will only adjust due to events that you need to notify your insurer for, for example a serious illness or injury that causes long term increased risks.
The highest level of protection
Gain access to Royal Londons Helping Hand for practical and emotional support for you and your family in a very difficult time.
Locked in premiums mean that long term planning is rewarded.
One month of cover free with same day policy activation
Special Events Increase Benefit - increase your cover as needed with changing circumstances
Immediate payout if you are diagnosed with a terminal illness meeting the policies definition.
Whole of life policies are perfect for anyone that feels they need life insurance. In particular whole of life insurance rewards buying in early with fixed premiums that don't increase over time. This usually means a long term saving compared to term life cover. It also removes the risk of uninsured periods such as when your term would end and to engage a new term would mean increased premiums due to age, or illness.
If you think that you will always have dependants, you just want to leave something extra behind for your loved ones, or you just want to mitigate the risks and costs that come with your passing then a whole of life policy is the smartest choice.
Frequently Asked Questions
Fixed premiums work by locking in the premium when you start your policy. That means unless notified of changes in circumstances that change your risk profile your premium will stay the same. Getting older or regular changes to health will not affect your premiums.
If you allow your policy to lapse due to continuous missed payments then the policy will end completely. You would need to get a new policy which will likely be at a higher rate due to increased age or worsened health.
One of the main draws of life insurance is that it allows you to provide for your dependants even in the event of your death. That's why most peopl take it out when they start a family. However it is still beneficial if you don't have dependants. Allowing you to leave a gift to your loved ones or just ease the cost of funeral expenses.
Whole of life insurance in particular has a benefit in buying young so as to reduce the premium that you would pay if you were to take it out later in life.
