Whole Life Assurance
Options to Save Whilst Covering Your Life
As per the other policy options, this policy is designed to give financial help once you have passed. The great part of this policy is that you can also use it as a savings method to cash in too.
What is a Whole Life Assurance Policy?
As stated before, Whole Life means it’s a policy that covers you to the end of your life and pays out a lump sum to the named beneficiary/beneficiaries upon the end of your life. These payments are tax-free and can be one lump sum, or a monthly or annual payment if desired.
The great thing about whole of life policies is that a monetary value is accrued over time so if the policy holder wanted to cash in some of the value they can do so.
Alternatively, when the policy is set up, they can set it up as two separate types of fund where an agreed amount is paid for the life assurance and the remaining amount is paid into the savings fund for the policy holder to access.
We can look at all options for you 01274 028019
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Family Income Protection
A term insurance for regular financial support for terminal illness diagnosis or death
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