Whether whole of life insurance is right for you will depend on what you want to cover and your available budget.
Whole of life insurance is an ideal option for those who want to guarantee their loved ones an inheritance.
Particularly for those later on in life, taking out a whole of life insurance policy allows you to provide a greater sum than with an over 50s plan.
Over 50s plans tend to have a sum assured capped between £10,000 and £20,000, whereas whole of life insurance offers the potential to secure up to £1,000,000 of cover.
This allows you to provide a greater inheritance and ensure multiple financial commitments are protected for your loved ones.
Those who’re in good health can benefit from more favourable premiums, as you’ll need to provide medical information at the point of application to help insurers calculate your monthly premium.
Speak to a friendly member of our team to find out if whole of life insurance is the right option for you. Simply get in touch.