With this type of policy it is designed to pay out a lump sum
upon death whenever that may occur, assuming you keep the policy
in force. This type of policy combines life cover with an investment
element and unlike term assurance, doesn't have a fixed term.
Whole life polices can be set up on a minimum, standard or maximum
cover basis. With the maximum level of cover you get the highest
possible level of life cover for your premiums.
Standard cover is the level which should sustain itself over
the duration of the policy. On the minimum level of cover you
receive the lowest level of cover for your premiums. Reviews will
take place usually after 10 years, where there could be a premium
adjustment or reduction in the sum assured.
This type of policy is not available on this site.
