Whole of Life Insurance

Some insurers offer life policies that insure you for your whole life, or for as long as you want to keep paying premiums. The cost of these policies is higher than with basic term life insurance and can increase at regular intervals depending on whether or not there is a guarantee premium or a reviewable premium for the rest of your life.

This plan will suit people who wish to have cover for the rest of their lives rather than just a specified term. It will appeal to those who have assets that they wish to protect against inheritance tax.

Income Protection Insurance

This type of plan can also be set up as something called a Section 72. A Section 72 insurance policy is a revenue approved life insurance policy. The proceeds of this policy can be tax-free if used to settle an inheritance tax bill.

Section 72 insurance is commonly used by parents to avoid an inheritance tax bill for their children.

Talk with an insurance specialist at Smart Financial to see if whole of life insurance is right for you and to discuss other Life Insurance options to give your family the peace of mind they deserve.

Got any questions?

Get in touch today