Whole Of Life Insurance

Whole Of Life Insurance

Are you a preoccupied working person who has yet to take action to safeguard your family in the event of your death or disability? That is a terrible oversight! A lack of proper planning can put your loved ones in a financial hurdle. Without a life insurance policy, your loved ones’ future could be in jeopardy!

The Whole Life Insurance is a long-term life cover policy with no expiry date. It protects your finances for the rest of your life and pays out a guaranteed lump sum when you die. Whole Life Insurance policies can be easily set up for inheritance tax planning. It can also be used to cover funeral expenses or to leave a legacy after you die.

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Who Qualifies For This Insurance?

You must be a resident of Ireland
You must have a proper source of income for the payment of monthly premiums.
It is cheaper when you’re younger because premiums are calculated based on risk
In the event of death, the insured person’s estate receives a tax-free lump sum payment.
Leave a lasting legacy, even if he or she owns little or has limited savings.

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Insurance Cover Dedicated To Your Whole Life

It is your priority to ensure that your loved ones are cared for after you die. Whole life insurance can alleviate the financial concerns of your family.

Whole life insurance is a policy that lasts your entire life and is not limited to a specific term. When you die, your policy will pay a lump sum to your family or dependents. If you are diagnosed with a terminal illness, you will also receive the payout immediately.

When you die, your family may be beholden to inheritance tax on your home and assets. This can be a significant burden, forcing them to borrow or sell a portion of their inheritance to cover their tax bill. Whole life insurance policies would assist them in remaining financially secure even after their death. Also, your guaranteed whole life insurance policy would also ensure that the funeral expenses are paid on time.

For advice, contact our expert financial advisors today!

Benefits of Whole Life Insurance

The pledged amount of insurance will not affect your lifestyle or ability to pay for ongoing expenses.
A lump sum payment would allow you to pay off all of their debts and live a respectable life.
Cover your loved ones’ inheritance tax liability so they don’t have to sell assets to pay the tax or loans.
It gives you peace of mind to know that your family is safe if something happens to you.