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Whole Of Life Assurance Advice: Protection and Insurance

Factfile: Whole Of Life Assurance

Brief Description:

Whole Of Life polices provide life assurance cover for the whole of your life and can be taken out in four forms:

• Flexible Whole Of Life
• Whole Of Life Without Profits
• Whole Of Life With Profits
• Low Cost Whole Of Life With Profits

Regular premiums payable: Yes

Guaranteed Premiums Available: Yes - but only for certain types

Reviewable Premiums Available: Yes - but only for certain types

Life Insurance included: Yes

Critical Illness Insurance included: Can be added as an option

Income Protection Insurance included: No

Period of Cover: Open Ended

Increase Cover option: Yes normally medical evidence required unless special events such as marriage, new children, further mortgage options included

Decrease Cover option: Yes

Waiver of Premium option: Yes - for certain types

Lump sum pay out: Yes

Regular amount pay out: No

Any investment cash in value: Yes - for certain types

Tax Benefits:

• Private policies - Benefits are tax free
• Business policies - premiums or benefits are potentially subject to tax incentives, not usually both

Benefits can be put in trust: Yes

Suitable For:

• Adults
• Family Protection
• Mortgage Protection - not usually used for this though
• Inheritance Tax Planning
• Business Protection - not usually used for this though

Insolvency Compensation Limits: Insurance Company Funds - 90% of total funds invested. No Limit.

Request expert advice today or visit our Money Shop or get a quotation and choose your own policy.