Whole of Live Cover

WHAT IS WHOLE OF LIFE COVER?
Whole of life Cover, as you’d expect, is an insurance plan that lasts for a whole lifetime, and is not limited to a specific term. If you pass away, this policy will provide a lump sum payment to your family. It can also provide tax-efficient inheritance planning cover for your family, so as not to impact their inheritance.

HOW DOES IT WORK?
When you take out a whole of life insurance plan, we’ll help determine the level of cover you need. It will depend on your circumstances and those dependent on you. You will then pay a set then pay out a lump sum to your family, should you die. The premium is also guaranteed never to increase.

PRODUCT FEATURES
Secure: Life Insurance means your loved ones are financially protected if misfortune strikes.
Tax-efficient: This plan can cover the inheritance tax your family may be liable for if you die.
Flexible: You can choose optional benefits for additional peace of mind.
Considerate: Lump sum payment may be used to cover funeral expenses.

WHO IS WHOLE OF LIFE COVER FOR?
This plan will suit people who wish to have cover for the rest of their life – and not just a specified term. It will appeal to those who have assets that they wish to protect against inheritance tax.

Royal London Option:
Life Changes Option – The Gamer Changer!
Royal London’s Life Changes Option, if selected, means for 10% extra in premiums your clients have the security of knowing that while their cover continues their premiums will cease at age 100, so the maximum amount the policy can cost is fixed. Even more importantly, it means after having had the policy for at least 15 years, they can choose to stop paying their premiums at any point and adapt their cover to suit their current stage of life, choosing between:

Option A) Protected Cover: A lower amount of money will be paid out on death.
Option B) Protected Cashback: Cash-in and end the policy and get up to 70% of premiums paid back.