Whole of Life Policies

A whole of life policy is another policy which does exactly as it says. It covers you for the whole of your life. When the inevitable happens, providing the policy is still in force, it will pay out a death benefit. Although they can provide a surrender value, they should not be used for investment purposes due to the deductions made for the death benefit.

As payment of the benefit is inevitable Whole of Life policies tend to be more expensive than Term Assurance policies for the same level of cover (it depends on what age you are when you start the plan). Each premium is made up of a mortality element and a savings element. Upon death, a fixed sum is paid to the beneficiary along with the balance of the savings element. The performance of the underlying investment fund for Whole of Life Plans is important, as the cost of future premiums depends on fund performance.

These policies come in various forms:

• Non-profit whole life policies - A level premium payable throughout life. It pays a fixed cash sum at the time of death.
• With profit whole life policies - Same as non-profit policies but the amount paid on death is the sum assured plus whatever profits have been allocated.
• Low cost whole life policies - These have a guaranteed level of cover that the amount payable on death is the greater of the basic sum plus bonuses or the guaranteed death sum assured.

If you are worried about investment risk and increasing premiums, there are Whole of Life policies available which do not rely on fund performance, however, these do not acquire a surrender value.

Please be aware that in some cases this type of assurance is based on an assessment of the health of the applicant.

PROTECTION ENQUIRY FORM

TitleMrMrsMissMs

Best time to call - Please SelectMorningAfternoonEvening

Your Address

Cover Required

Life cover productTermMortgage ProtectionWhole of LifeFamily Income Benefit

Renewable

Premium typeGuaranteedReviewable

Premium frequencyMonthly PremiumAnnual Premium

I Would also like to consider critical illness

Lives Assured

Cover TypeSingle LifeJoint Life

1st Life Assured

Previous health problemsYesNo

SexMaleFemale

SmokerYesNo

2nd Life Assured

Previous health problemsYesNo

SexMaleFemale

SmokerYesNo

Marketing Information

How did you hear about usSearch EngineExisting ClientFrom FriendSaw AdvertisementOther

Sensitive Personal Data

We may need to collect sensitive personal data including information about your health, ethnic origin, or criminal prosecutions from third parties such as employers and credit reference agencies, fraud prevention agencies and other similar organisations in order to provide you with the services, for example where you require advice on protection or mortgages products.

If you consent to us obtaining your sensitive personal data from third parties referred to above for the purpose of providing you with the services, and sharing it with third party providers to obtain quotes on your behalf, for example where we are providing you with mortgage or protection advice as part of our services, please tick this box.

Submit your Information

From time to time, we would like to contact you with details about our services, products, business updates and events. If you consent to us contacting you for this purpose please tick to say how you would like us to contact you:

How should we contact you?

Email

Telephone

Post

Yes please, I'd like to hear about offers and services.

No thanks, I don't want to hear about offers and services.

Please tick this box to confirm you have read and understood our privacy policy.