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Whole of Life Insurance

Guaranteed cover for your entire life, often used for inheritance tax planning or leaving a legacy.

Whole-of-market access, including cover from

Aviva Legal & General Vitality Royal London Zurich LV= Guardian Bupa MetLife Aviva Legal & General Vitality Royal London Zurich LV= Guardian Bupa MetLife

Unlike term insurance, whole of life cover doesn't expire after a set number of years. It runs for as long as you live, guaranteeing a payout whenever you die, provided premiums are kept up.

How it works

Premiums are usually reviewed periodically (or fixed, depending on the policy type) and cover continues indefinitely. Because a payout is guaranteed at some point, premiums are generally higher than for term insurance.

Common uses

  • Covering an inheritance tax liability, so your family doesn't have to sell assets to pay it
  • Leaving a guaranteed legacy or gift to family or a chosen cause
  • Covering funeral costs and other end-of-life expenses

Who it's for

Often used in later-life or estate planning, or by anyone who wants certainty that a payout will happen, rather than cover that could expire before it's needed.

Frequently asked questions

Is it more expensive than term insurance?

Generally, yes, premiums are higher because a payout is guaranteed at some point rather than only if you die within a set term.

What happens if I stop paying premiums?

Cover usually lapses if premiums stop, so it's worth making sure the policy stays affordable for the long term before committing.

Is this mainly for inheritance tax planning?

It's one common use, particularly when written in trust, but it's also used simply for guaranteed cover, such as funeral costs or leaving a fixed legacy.

Can my premiums increase over time?

Depends on the policy type. Some are reviewable, meaning premiums can be adjusted periodically, while others are guaranteed for life. I'll make sure you know which you're choosing.

Who regulates us

Match Financial Partners Ltd is authorised and regulated by the Financial Conduct Authority (under number 983246 in respect of mortgage, insurance and consumer credit mediation activities only).

You can check this on the Financial Services Register by visiting the FCA's website www.fca.org.uk or by contacting the FCA on 0800 111 6768.