Most life insurance policies run for a fixed number of years, but what if you want to guarantee a payout whenever you pass away — not just if it happens before a certain age?
That’s where Whole of Life Insurance comes in. It’s a policy designed to cover you for the rest of your life, with a guaranteed tax-free payout for your loved ones.
💡 How Does Whole of Life Cover Work?
- You’re covered for your entire lifetime, not just a fixed term
- You pay a monthly premium until you pass away or reach a certain age (depending on the policy)
- When you die, the insurer pays out a guaranteed lump sum to your chosen beneficiaries
This can be used to:
- Help with funeral costs
- Pay off any outstanding debts
- Cover inheritance tax bills
- Provide a financial legacy for your family
💷 How Much Does It Cost?
Whole of Life cover is generally more expensive than term insurance because it guarantees a payout. Costs depend on:
- Your age and health
- The amount of cover you need
- Whether the policy includes additional features like critical illness cover or premium waivers
🧠 Who Is It Best Suited For?
✅ People who want to leave something behind, no matter when they die
✅ Those looking to cover funeral costs or clear debts
✅ Estate planning — e.g., offsetting inheritance tax liabilities
✅ People wanting a guaranteed legacy for loved ones
🛡️ Is It Better Than Term Life Insurance?
It depends on your goals:
| Term Life Insurance | Whole of Life Cover |
|---|---|
| Covers a fixed number of years | Covers you for life |
| Usually cheaper | More expensive, but guaranteed |
| Pays out only if you die during term | Always pays out when you die |
| Good for mortgage/debt cover | Good for legacy and funeral cover |
💬 Want to Guarantee a Payout for Your Family?
Whole of Life Insurance can offer real peace of mind — especially if you’re looking to leave a legacy or plan ahead financially.
✅ Guaranteed payout
✅ Covers you for life
✅ Tailored advice based on your needs