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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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The service I have recieved from 121 financial services has been exceptionally helpful. They are respectful and patient as it has often been difficult for me to understand the financial market and how best to manage my money. I had ssen 2 financial advisors prior to meeting with 121 and decided this was who I wanted a service from due to the effort and time they took to research and gave me time to make my decisions. I would definately recommend this company.

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We were delighted with the excellent and impartial advice received from 1-2-1, and the significant help and patient assistance we received with sorting out complex life assurance (because of the medical condition one of us has). Great service!

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01323 734530 - info@121fs.com

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