Non-Profit Whole Of Life Assurance covers an individual for an amount of money that they select when they apply for a policy, this referred to as the “cover amount”. The policy will cover that individual for the whole of their life.

The Whole Of Life policy provides a guaranteed lump sum when the individual dies which can then be used to help cover potential Inheritance Tax or to help financially protect their family.

The policy lasts for the whole of the individual’s life so they can be safe in the knowledge as long as the premiums are maintained the lump sum will be paid whenever that individual dies.

It is worth remembering that because the policy is based on the individual’s health at the time of applying they will have answer certain health and lifestyle questions to obtain cover.

It is possible to apply for cover on one person or two people, in other words a single life policy or a joint life policy.

When applying for a joint life policy, you can choose for the cover amount to be paid on the first death or the second death of the two people covered.