Whole of Life

Whole of Life

Whole life insurance is a policy that will pay out on death at any time of the person whose life is assured, as long as the whole life insurance policy is still in force.

You will be expected to pay premiums on the whole life throughout your life or until the person whose life is assured reaches a certain age, when premiums could stop, but cover continues.

The main difference between whole life insurance and term insurance is that payment of the benefit will be inevitable (hence the difference between ‘assurance’ and ‘insurance’).

With term insurance, your premiums only go towards a mortality element, as it will only pay out if you die within the term. With whole of life, the premiums go partly towards a mortality element and partly towards a savings element, which builds up an investment fund in order to pay the benefit on death.

Because of this, whole of life policies tend to be more expensive than term policies.

About Us

Arc Protect

ARC Protect is a team of approachable and friendly financial advisors with over 100 years of collective experience behind us.

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Power House, 20 Haughton Road, Darlington, DL1 1ST
Phone: (0345) 873 3223
For Mobiles: (01748) 889 077
Website: www.arc-protect.com
Email: contactus@arc-protect.com

Disclaimer

ARC Finance Group Ltd, trading as Arc Protect, is authorised and regulated by the Financial Conduct Authority.

Where you have a complaint or dispute with us and we are unable to resolve this to your satisfaction then we are obliged to offer you the Financial Ombudsman Service to help resolve this. Please see the following link for further details:

http://financial-ombudsman.org.uk