David Allan

Experly compared by David Allan

Products Updated April 20, 2018

Whole of Life Insurance

If you are looking for whole of life insurance then we can help. Our experts and providers can help find you a great deal from the market.

FREE life insurance advice and comparison. Our experts can help find you a great deal from providers across the whole marketplace:

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All credit types
Rated 4.8/ 5

Lifes Great Why?
Why?

This provider is our Expert’s Choice in its category as it won tops marks for the following.

  • TRUST
  • VALUE
  • EXPERTISE & KNOWLEDGE
  • CUSTOMER SERVICE

Learn more about how we review and assess the providers here on Lending Expert.

Provider
Lifes Great

Products
Life Insurance

Speciality
Compares The Market

Whether you are looking for a cash lump sum payout or decreasing term mortgage life insurance, Lifes Great can provide you with a quote and a recommendation in under a minute. Free to use and you are under no obligation to proceed with any quote given.

Available via broker only
All credit types
Rated 4.7/ 5

Friends Life

Provider
Friends Life

Products
Life Insurance

Speciality
Life Insurance

Friends Life is now part of the Aviva Group. Get the cover you need to protect your family and loved ones when you're no longer around.

Available via broker only
All credit types
Rated 4.5/ 5

Royal London

Provider
Royal London

Products
Life Insurance

Speciality
Life Insurance

With a policy in place with Royal London , you can leave money to your loved ones when you pass away, to help protect your family financially. Get a free quote or apply online.

Available via broker only
All credit types
Rated 4.2/ 5

Zurich

Provider
Zurich Life Insurance

Products
Life Insurance

Speciality
Life Insurance

Zurich Life Insurance will pay out a cash sum if you die during the term of the policy, or if you are diagnosed with a terminal illness and are expected to live for less than 12 months. Plans can be tailored with optional extras to suit your individual requirements and to provide added peace of mind.

Available via broker only
All credit types
Rated 4.5/ 5

LV

Provider
Liverpool Victoria

Products
Life Insurance

Speciality
Life Insurance

Life insurance from Liverpool Victoria will pay a lump sum should the worst happen, so you will have peace of mind that your family and loved ones will be financially protected when you’re no longer here. Even superheroes need protection.

Available via broker only
All credit types
Rated 4.6/ 5

Legal & General

Provider
Legal & General

Products
Life Insurance

Speciality
Life Insurance

Life cover or life assurance helps you to financially protect the future of your loved ones. Life Insurance from Legal and General offers reassurance that your loved ones or family will still be looked after financially should the worst happen.

Available via broker only
All credit types
Rated 4.6/ 5

Ageon

Provider
Ageon Life Insurance

Products
Life Insurance

Speciality
Life Insurance

Ageon is here to help you reach your goals at every stage of your life. Part of that involves putting plans in place to adequately protect and insure you against the unexpected things in life.

Learn More Available via broker only
All credit types
Rated 4.6/ 5

Vitality

Provider
Vitality

Products
Life Insurance

Speciality

If the worst should happen, or you can’t work because of illness or injury, Vitality Life's 5-star Defaqto award-winning range of protection products will give you or your family payments to make things easier.

 

FAQ's

What is whole life insurance?

Whole Life Insurance is a policy that consists of many components. This is type of insurance will provide the policy holder with insurance cover for your whole life. As with most insurance policies, if the worst were to happen and the policy holder were to pass away, a pay out would be made to the policies beneficiaries. However, a whole life insurance policy has a saving element and this will increase in value. This is one of the key components to the insurance policy. As with your standard life insurance policy, you will still receive the death pay out should the policy holder pass away.

The amount you pay will go towards a cash value as well as the death pay out. With your standard life insurance policy, it is only the death pay out available.

How does it work?

A Whole Life Insurance policy never expires as long as you continue with the payments, the policy will stay in place regardless of your age and health at no higher cost to you. As stated, with Whole Life Insurance the cost of the policy will never increase as long as the payments are met. Compared to the standard life policy you get a better deal as the cost of those policies will always rise because as you get older the chances of dying increase.

One reason why this policy is a popular choice is that it also helps to cut your family tax bill, mainly inheritance tax. When you pass away inheritance tax is charged at a certain percentage on all assets worth more than a set amount, however, if you take out a whole life insurance policy it will ensure that your beneficiaries should receive a tax free lump sum.

Whole Life Insurance policies regularly pay out dividends. It is then possible that the money can then be used, if you wish, to purchase extra life insurance (paid-up additions), this will then increase the overall total death benefit that will be paid out and also increase the cash value of your life insurance policy. There is also an option to withdraw a small amount or all of the dividends in cash and this will be tax free.

What is the features?

  • Premiums will not increase
  • There is a saving element with this type of policy
  • You can amend your policy if your circumstances change
  • Tax free payout the your beneficiaries
  • Policy does not expire
  • Death benefit plus the amount paid in by you

What are the features?

What Are The Benefits?

  • All savings include interest
  • Do not have to worry about the renewal of the policy
  • The monthly premiums do not increase so you know exactly how much your paying each month
  • You and your finances are protected ensuring financial security for your whole family
  • Your policy can be adjusted to suit your needs should your circumstances change
  • The benefit pay out would be tax free

We are independently reviewed by our verified customers and web users:
Rating: 4.6 / 5 with 25 votes

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