More About Whole of Life Insurance

Whole of Life Insurance is designed to provide lifelong protection — paying out a guaranteed lump sum whenever you pass away. This payment can help your loved ones cover funeral expenses, replace lost income, or pay an Inheritance Tax bill.

Unlike Term Life Insurance, which covers you for a set number of years, Whole of Life cover lasts for your entire lifetime, as long as you keep up your monthly payments. It’s a popular choice for people who want the reassurance of knowing their family will always receive a payout.

Premiums are paid monthly, and your level of cover will depend on your age, health, and lifestyle (including smoking status).

How Much is Whole of Life Insurance

Whole of Life Insurance typically costs more than Term Life Insurance, because it guarantees a payout. However, it offers unbeatable peace of mind, ensuring your family is protected no matter when you die.

There are two main types of Whole of Life cover:

• Underwritten Whole of Life Insurance – Requires health and lifestyle questions but offers better value and lower premiums.

• Guaranteed Acceptance Over 50s Plans – No medical questions, available to UK residents aged 50–85, but typically more expensive for the same level of cover.

Our specialists will help you compare both options and find the most cost-effective way to get the protection you need.

Frequently Asked Questions about Whole of Life Insurance

Is Whole of Life Insurance worth it?
If you want lifelong protection that guarantees a payout then whole of life insurance can be a great solution. It’s ideal for people wanting to cover funeral costs or leave a tax-free legacy for their family.

What’s the difference between Whole of Life and Term Life Insurance?
Term Life Insurance only pays out if you die during a fixed term. Whole of Life Insurance lasts for your entire lifetime, guaranteeing a payout whenever you pass away.

Can I use Whole of Life Insurance to cover Inheritance Tax?
Yes, many people take out Whole of Life cover specifically to offset Inheritance Tax, helping their beneficiaries receive their full inheritance.

Whole of Life Insurance through SaveOnLife.co.uk;

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