Guaranteed Price Whole of Life Insurance

21 March 2017
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Whole of life insurance policies have earned a bad reputation in recent years on account of life insurance companies increasing the premiums being charged as the policy gets older.

These products were sold as reviewable life insurance policies by Life Insurance Companies.

We receive phone calls every other day from individuals who were sold reviewable life insurance policies by banks and life insurance companies, not realising that the premiums were likely to increase. In some instances policy charges doubled at a time when cash is scarce and the premiums were simply unaffordable. In most instances we are able to recommend a fixed price term insurance policy to replace the unaffordable policy.

If you want to take out a whole of life insurance policy the first priority is to ensure that the premium is guaranteed for the life of the policy. One options is the new guaranteed price whole of life insurance product from Royal London. 

  • The policy is regular premium policy.
  • The policy pays out a lump sum if the life Insured dies or has a terminal illness as defined in the policy.
  •  The policy does not have a fixed end date; cover lasts throughout life
  • The policy can be arranged on a single, dual or joint life basis.
  • The premium is fixed and is not subject to review
  • Indexation is available
  • The life changes options ( selected at the outset and costing an extra 10% ) allows you to cease paying premiums after 15 years and to agree either of the options below :

Secure a reduced sum assured for the remainder of your life or

Take a refund of 70% of the premiums paid.

Please call us for a quote and we can explain the details of this guaranteed whole of life insurance policy with you.