What is whole of life insurance?
While the majority of life insurance policies only pay out if you pass away within a fixed time frame - also known as a ‘term’ - a whole of life insurance
policy pays a lump sum to your beneficiaries or loved ones when you die. It is also known as whole of life assurance, which means that it is guaranteed
to pay out in the event of your death.
Just like with any other policy, you will pay a monthly (or sometimes annual) premium, and you will remain covered as long as you continue to make these