- FOR LIFE INSURANCE

In it for the long run

Unlike term insurance (which only lasts for a specific time period) whole life insurance offers you the chance to take out a policy for your entire life. This is also sometimes known as 'whole of life' insurance.

With whole life insurance you - and your family - will be guaranteed a pay-out from your insurer upon your death. It doesn't matter how soon into the policy you die or if you last long enough to receive a telegram from the Queen. Once you die, they'll get some money.

The main thing you need to know with this type of policy is that it can work out to be a little more expensive, although the long-term benefits often outweigh this fact. The extra expense comes from the fact that the insurer knows that, with this type of product, they will HAVE to make a pay-out at some point in the future. They can make term insurance cheaper because they're gambling that you won't die while your policy is up and running.

Why buy whole life insurance?

One of the biggest advantages with whole life insurance is that you know that there will be a pay-out at some point. You won't actually see it yourself but your family will at least benefit! You just don't get this guarantee with a term life insurance policy and it can seem a bit of a waste of the premiums you pay when there is no return at the end of the day.

Another big advantage with this type of policy is that you can use it to avoid inheritance tax by setting it up in trust for your dependants. This is an important option available with the majority of whole life policies. It would mean that they will receive their money quicker and would minimise the chances of them having to pay inheritance tax on it.

What do you need to know?

The thing that puts many consumers off whole life insurance is the fact that it can be quite a complicated product to buy. So, many of us opt for a simple term policy - when the reality is we'd be much better off going with a whole one. You really do need expert help here - and we're more than able and willing to give it to you.

For example, we can help you weigh up the pros and cons of whole life insurance policies in general. We can help you choose between maximum cover (where your premiums are fixed for a period of time and then reviewed) and balanced cover (where your premiums stand a better chance of staying the same).

There's no charge for our services and you don't need to take up one of our quotes if you don't want to at the end of the day. But, you'll get the best possible advice on the market so you can make an informed decision to buy the right insurance for you and your family. There's more to what we can do for you though.

Our aim is to make sure that you buy right and you buy cheap. We don't just deal with a few selected insurers. We don't just deal with the big names. We deal with every single reputable whole life insurer to make sure that the quotes we give you will be the cheapest in the UK.

You simply won't be able to find it cheaper anywhere else. Especially when you consider that we also add on our broker discounts to your package to make sure that it is really cost-effective!