What is Whole of Life?

A Whole of Life Assurance policy has no predetermined termination date and it will continue in force until the policyholder dies or they surrender the policy. When the policyholder dies, the payout will be either the sum assured or the sum total of all the investment bonuses including the terminal bonus, whichever is larger. Please be aware that in recent years, some insurance companies have altered the method that they allocate bonuses - so check carefully before purchase.

Hot Topics

What is Level Term Insurance?: Level Term Insurance is a form of insurance that pays a lump sum to you or your family if you die or fall terminally ill whilst the policy is in force.
What is Mortgage Insurance?: Mortgage Insurance is also commonly known as Mortgage Protection Insurance.
What is Mortgage Payment Protection Insurance?: Mortgage Payment Protection Insurance will pay your monthly mortgage repayments if you were off work because of sickness, an accident or unemployment.
Does a UK Life Insurance policy work abroad?: Life Insurance contracts offered by UK Life Companies are legally constructed to apply to people living in the UK and can be sold only to a UK resident at the time the policy is sold.
Top Tips from Express Life Insurance: 1. Always write a Life policy “in Trust”......

The value of the annual bonuses and terminal bonus will be determined by the performance of the Insurance Company’s investments.

As time passes and more and more bonuses are added to your policy, the investment value of your policy increases. If you need cash, this value can be unlocked by surrendering the policy to the Life Company. The Life Company will be able to tell you in more details how this process actually works. { home insurance }

Please be aware that Whole of Life policies are classified by the FSA as an investment product and can only be sold by a qualified and registered Financial Adviser. The Financial Adviser would be required get a clear understanding of your circumstances before making any recommendations to you. Therefore, you cannot buy a Whole of Life policy online.

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