Product details of our Whole Life Cover Plan

Whole of Life cover is designed to adapt as your client’s needs change over time.

Clients can structure cover in a way that suits their personal circumstances, with the option to review and adjust as life evolves.

Includes:

• Cover available on a single or joint life basis.
• Fixed premiums for long-term certainty (unless cover is increased).
• Option to tailor cover to suit different life stages.

Clients may need more cover as their circumstances change. Whole of Life includes options to help maintain or increase protection when it’s needed.

Options include:

Guaranteed Insurability Option

• Increase cover after key life events (e.g. marriage or children).
• No additional medical underwriting required (within limits).

Indexation (optional)

• Cover increases by 3% each year.
• Helps protect against the impact of inflation over time.
• Premiums increase in line with cover.

A key feature designed to give clients flexibility later in life.

If circumstances change, clients have the option to stop paying premiums after 15 years and still receive value from their policy.

They can choose to:

• Keep a reduced level of cover in place.
• Take a cashback amount and end the policy.
• This provides an added level of control and flexibility not typically available with traditional life cover.

Whole of Life cover includes additional support designed to help clients beyond the policy payout.

Terminal illness benefit

• Full cover amount can be paid early if diagnosed with a qualifying terminal illness

Helping Hand service

• Access to emotional and practical support for clients and their families
  Includes guidance during serious illness, bereavement and difficult life events

Whole of Life cover can play a valuable role in helping clients manage inheritance tax.

When set up as a Section 72 policy, it’s designed to provide a payout that can be used to cover inheritance tax liabilities.

This can help:

• Avoid the need to sell assets, such as the family home.
• Ensure more of the estate is passed on to beneficiaries.
• Provide certainty around future tax obligations.