To find the best whole life insurance
for your circumstances you need to do quick comparison quotation for whole of life insurance as there is no one insurance company that is always best for everyone.
Insurers have ratings for every age, smoking status and sum insured and there’s no way to know where your circumstances will place you without doing a quote.
Rates can change frequently and as your age is changing all the time there really is no substitute for a comparison engine, especially if you use the online systems which are usually discounted over a face to face salesman. This link might help if you are looking for a quote for whole of life insurance
What Is Whole Life Insurance?
Whole of life insurance guarantees the payout of a lump sum whenever the policyholder dies, so long as the monthly premiums are maintained.
Because death is inevitable you are guaranteed a payout provided the premiums are paid up to date. It is for this reason that whole of life insurance is more expensive than for the alternative option of ‘term life insurance’ which only lasts a set number of years and can finish before you die.
Whole life insurance sold now is not investment linked in anyway, it is pure protection insurance and usually has guaranteed premiums for life. Think of it as a term insurance without a term! Some websites (moneysupermarket.com) still refer to an out of date description of whole of life as an investment backed insurance which may apply to older legacy products but is not relevant for new customers.
Whole Life Insurance For Customer Between 18 and 84 Years Of Age
It’s possible to arrange whole life insurance provided you are aged between 18 and 84 inclusive. Obviously the younger you are the lower the premium rates for the best providers. Premium rates also increase if you have a medical condition so it’s best to apply before health starts to deteriorate.