Whole Of Life Cover
This policy is designed to pay a cash lump sum upon the death of the person insured. There is no end date or “term” for this policy. You need to keep up the monthly premiums so it will stay in force and pay a lump sum to the surviving family or loved ones.
A great insurance policy sometimes referred to as a funeral plan. Most people take one later on in life to cover funeral expenses. Not to be confused with over 50’s plans as they are not the same. A whole of life policy may be taken out under the age of 50.