The Pros and Cons of Whole of Life Cover

There are two main types of life insurance, Whole of Life cover and Term Assurance cover.

As the name suggests, Whole of Life insurance can cover you for your entire life whereas Term Assurance is put in place for a set term such as 10, 20 or 30 years.

Whole of Life insurance often costs more in premiums but means you get a guaranteed sum of money when you pass away at any age, so some people will see it as a form of savings account for their next of kin when they pass away.

Term insurance costs less in premiums but if you don’t pass away during the term of the cover, there will be no payment and so the money you’ve paid in is gone forever.

In this blog we’ll delve into the pros and cons of Whole of Life insurance.


Permanent – As long as you keep paying your premiums the policy can last for the rest of your life. There are certain options available in the market where you pay premiums for so many years, similar to term insurance, but then you stop, and...

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