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Whole of Life - Inheritance Tax - Insurance - Advice

Home » Insurance - Personal and Business, Investments - ISA, Unit Trusts, Bonds etc » Whole of Life – Inheritance Tax – Insurance – Advice

Whole of life Assurance

Whole of life assurance is a life insurance policy that remains in force for the insured’s whole life and requires (in most cases) premiums to be paid every year into the policy. Whole of Life insurance can be taken out to pay for funeral expenses, cover an Inheritance Tax bill or simply to provide a lump sum to family.

Whole of life insurance can be more expensive than a fixed term life insurance because of the certainty that the life company will eventually have to pay the sum insured. There are different types of  Whole of life plans with all sorts of options that can be added in to each policy. Such as adding in critical illness cover, waiver of premium and so on.

You may find an investment backed plan right for you or a guaranteed plan. A guaranteed whole life insurance policy charges a fixed premium for life. There is no investment element and no cash-in value at any time. The advantage of guaranteed cover is that your premiums will not rise and you are not dependent on any investment performance. The disadvantage is the cost, as it is almost always more expensive than the other two options.

121 Financial Services are here to advice on the right type of plan and the add ons you may require based on your needs and objectives.

You may be thinking how much is this whole of life cover? The cost will be determined by the insured age, families historic health, their own past and present health condition, the amount required on death, the type of cover and so on….

For more details and any advice you made need to see if a whole of life policy is right for your needs, please contact us 01323 734530 and we would love to help.

Wiki

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I used 121 financial services due to a search I performed on the Internet. Mark was easy talk to when discussing personal financial matters and helped to give real examples of where certain services may be useful to me. They were both very approachable and friendly too which I believe is vital when dealing with sometimes sensitive subjects such as life insurance. I ended up buying a life insurance policy for myself and my husband and saved nearly £30 on the annual fee. I will use 121 in the future for any financial advice and support.

Nicola B

Mark offered us an excellent service, providing sound and friendly advice with our life insurance. He talked us through this complex area and made it very easy to understand. We were particularly impressed with the amount of effort he went to in providing us with the best policy to suit our needs.

Lyndsey M

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25 Hyde Gardens, Eastbourne, East Sussex, BN21 4PX
01323 734530 - info@121fs.com

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