Whole of life insurance is a type of life insurance policy that provides cover for the entirety of your life, rather than a set term. This means that when you die, the policy will pay out a lump sum to your loved ones, regardless of when that may be.

The cost of whole of life insurance will depend on a range of factors, including your age, health, lifestyle, and the level of cover you require. Generally, the younger and healthier you are when you take out the policy, the lower your premiums will be.

Whole of life insurance provides a range of benefits, including peace of mind that your loved ones will receive a lump sum when you die, regardless of when that may be. It can also provide a useful source of inheritance tax planning and help cover the costs of funeral expenses.

Yes, many whole of life insurance policies offer the flexibility to change the level of cover over time. This can be useful if your circumstances change, such as if you have children, get married or divorced, or experience a change in your health.

Whole of life insurance can be a suitable option for many people, particularly those who want lifelong cover and the peace of mind that comes with it. However, it may not be the best option for everyone, and it’s important to speak to a financial adviser to determine whether it’s the right choice for you.