Whole of life plans, also known as life assurance, give you cover for your entire life. When you die a lump sum can be used to meet your debts or can be left to someone.
Whole of life cover
Whole of life plans offer
- an investment component which means that your premiums are invested during the lifetime of the policy. This builds up a cash value which you may be able to withdraw or borrow against
- a withdrawal clause that allows you to cancel the plan and receive a cash surrender value
Next steps
If you have a policy, want to buy some cover, or just want more information:
- read through your policy and / or talk to your insurer
- talk to a financial adviser or insurance broker through unbiased.co.uk or the British Insurance Brokers' Association (BIBA) website to find out more about whole of life plans
- shop around to find out more on how to buy the best whole of life plan for you