A new generation of Whole of Life
In this article we look at how a new generation of insurance products are helping people to fund retirement and plan for their futures. Historically, Whole of Life has been an investment linked policy that was complex and not viewed as cost effective for a number of reasons.
The new generation of Whole of Life policies are far more simple due to the fact that they are guaranteed premiums and a guaranteed pay out at the end of the policy. This means that you know exactly how much you would pay in premiums up to a certain date and how much cover you would have which you can see in the example below. A whole of life policy can be used for a variety of reasons to secure
- Funeral expenses which can be very costly
- Inheritance Tax Planning
- Leaving a Lump Sum for your children and family
- Free cinema tickets
- Up to 50% discount with Gym membership
- 33% off Ticketmaster
- Up to 50% off Lloyds Pharmacy
- Up to £15 a month cashback on your mobile phone
- Plus many more great discounts