Permanent life insurance offers life insurance cover for the whole of the insured’s life, unlike term insurance which is for a specific and defined period of time. The premiums of these policies are invested in an insurance company fund and have a cash value that accumulates in the policy through the growth in the investment. The cash surrender value can be accessed if the policy value is sufficient, although caution needs to be taken because a withdrawal could effect the ability of the policy to pay out the full death benefit. Alternatively, a loan may be taken against the cash surrender value, which can be used by the client for anything they want to do. For example, borrow to invest in a portfolio, in property, or into their business.
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Whole of life is a permanent insurance suitable for individuals who want guarantees in the life cover they are buying. This type of policy usually guarantees the minimum cash value of the policy, level premiums (usually the client has a choice to pay these premiums monthly, quarterly, half yearly or yearly) and a guarantee that the death benefit or sum assured will be paid out. The guarantees built into a whole of life contract means it is typically the most expensive type of policy to buy. The premiums are higher to reflect the fact that the insurance company issuing the policy to the individual is carrying all the risk. This type of policy is also typically the least flexible. For example, it would be highly unlikely for the insured to be able to increase cover on the same terms as their original contract. These policies are designed to endow, or reach the same cash surrender value as the policy death benefit at policy ‘maturity’ which is typically age 100.
Whole Life Cover upto Age 100.
Cash Surrender Value
Min. Sum Assured for all catagories of people.
8% Guaranteed return from age 65 for whole of life.
Sum Assured at death or critical illness (riders)
FOR MORE INFO. ON THE ABOVE: Please Request for a Quote. We will get back to you ASAP.
Whole Life Cover upto Age 100.
Cash Surrender Value
Min. Sum Assured for all catagories of people.
8% Guaranteed return from age 65 for whole of life.
Sum Assured at death or critical illness (riders)
FOR MORE INFO. ON THE ABOVE: Please Request for a Quote. We will get back to you ASAP.
