Whole of life insurance
Whole of life insurance is the same as any other type of life insurance apart from the fact that it does not have a term and the policy is designed to run until the death of the person insured. This means that as long as you continue to pay your whole of life premiums that you will be ‘guaranteed’ to receive a pay out.
A whole of life policy can be used for a number of different reasons such as providing a legacy for your children, payment of Inheritance Tax (IHT) liability or pay for other taxes due for payment in later life.
Whole of life insurance is underwritten in exactly the same way as other types of life insurance and should ideally be considered or purchased earlier in life to keep premiums low.
Compare whole of life cover
Whole of life insurance can vary dramatically from one insurance provider to another but also there are different types of whole of life cover which can be linked to an investment.
It is important to speak to an adviser to find out which type of whole of life cover is better for you and to understand what you need the cover for. The main reason for whole of life cover is for IHT planning and therefore fairly simple but some people are now using this type of policy for other reasons such as providing a legacy for their children.
Speak to one of our team of experts who will explain why whole of life cover may or may not be suitable for you based on your requirements.
There are many different types of life insurance, such as:
- Level term assurance
- Decreasing term assurance
- Family income benefit
- Business protection
Most people consider taking either a life insurance policy to protect their family (level term assurance) or their home / mortgage (decreasing term assurance). Your life insurance needs should be carefully considered and assessed to ensure that you have the most appropriate cover in place based on your circumstances / budget.
Other types of personal protection products include:
- Critical illness cover
- Income protection
- Private medical insurance
- Over 50’s life insurance
- Funeral plans
It is important to carefully consider which types of cover and life insurance are most important to you based on your individual circumstances, however your needs will change as your life changes.
Whole of life cover underwriting
Whole of life cover is also just another form of life insurance and therefore is underwritten at the point of application in the same way. Generally a whole of life insurance policy will become more expensive in later life because the risks of claim are far higher at this stage and therefore premiums will reflect that. As with the other life insurance policies, the main factors to be taken in to consideration will be:
- Medical history / Health
- Extreme / Hazardous sports
Life insurance underwriters are trained to assess each individual application based on your own circumstances and apply any premium loading as required. Insurance underwriting can vary dramatically from one insurance provider to another so it is important to shop around to find the best for you.
Whole of life insurance for pre-existing medical conditions
iAMinsured is also a specialist for people living with a pre-existing medical condition such as Diabetes, MS, Heart Conditions and Cancer to get whole of life insurance to protect their family and homes. If you have tried to get whole of life insurance in the past and struggled because of your pre-existing medical condition then you should speak to an expert who knows which underwriters are more sympathetic to your health.
Pre-existing medical condition whole of life insurance
Call or email our team of expert advisers to find out more about pre-existing medical conditions whole of life insurance.
Whole of life insurance for hazardous occupations
iAMinsured specialises in working with people who have a hazardous or dangerous job to find the right whole of life insurance to help them protect their family and home as well as save money. Many people with hazarcous or dangerous occupations such as off shore workers, construction workers and people working at heights may find it difficult to get whole of life insurance.
Hazardous occupations whole of life insurance:
Our team of experts will help you to find the best providers for your whole of life insurance and we aim to save you money.
Whole of life insurance for extreme sports
iAMinsured works with people who take part in amateur and professional extreme sports and dangerous hobbies to find life insurance to protect their family and homes. If you have applied for whole of life insurance in the past and struggled because of your extreme sport or hobby then you should speak to one of our team of expert advisers.
Extreme sports whole of life insurance
Speak to one of our team of expert whole of life insurance advisers to find out how we can help you to find the right cover and save money based on your circumstances.
Talk to an adviser
Our team of highly skilled and vastly experienced advisers will help you to get the right cover to suit your needs at the right price.
Life insurance can be extremely confusing and can appear to be a difficult application process so we’re here to make it easy for you.
Call 01244 732895 Or request a call back
Other types of cover