freephone 0800 862 0949
Sign in to view your quotes
Email address:
Password or PIN:

Forgotten your password? Reset it here.
please wait ...

Life insurance

Leave a cash lump sum to your loved ones in the event of your death and protect your family’s financial future.

Find out more

Over 50's life insurance

Guaranteed acceptance for UK residents aged between 50 and 80 with no medical required. Choose an Over 50’s policy to suit your budget and needs.

Find out more

Whole of life insurance

Whole of life insurance guarantees the pay out of a lump sum when the policyholder dies which can be used for Inheritance Tax Planning.

Find out more

Critical illness cover

Receive a cash lump sum if you are diagnosed with one of the specified critical illnesses in your policy, such as cancer, heart attack or stroke.

Find out more

FAQs

Information Guides

Whole of life insurance

A whole of life insurance policy pays your family a lump sum of money whenever you die to help ease their financial worries. Unlike a term life insurance policy that covers you for a fixed period, a whole of life insurance policy covers you until you die i.e. for your whole life.

A whole of life insurance policy is the most comprehensive life cover policy available and can be bought for many reasons including:

  • To provide financial security should you pass away unexpectedly
  • Pay off outstanding mortgage repayments and secure you family home
  • Assist with the cost of raising your children and pay school and university fees
  • Help pay funeral costs relieving your family of worry

How does whole of life insurance work?

A whole of life insurance policy works by paying your family a fixed amount of money when you pass away. Monthly premiums can be reviewable and as you get older or suffer ill health you may experience an increase in premium to reflect these changes.

Your monthly premiums will usually be fixed for the first ten years of the policy but after this time they can be reviewed and it is important you are aware that premiums may increase.

As a whole of life policy is guaranteed to pay out it is often referred to as life assurance and unlike some term life policies, there is more flexibility with whole of life insurance.

Why would I need whole of life insurance?

A whole of life insurance policy can provide that financial security for your family when you pass away. As death is inevitable, a whole of life insurance policy is guaranteed to pay out when you die, as long as you continue to pay your monthly premiums.

For some, this level of life insurance is what they require and a whole of life insurance policy can be used to help cover inheritance tax, funeral costs and can secure your partner and family’s financial future.

Inheritance tax is currently set at 40% of the value of your estate, with the first £325,000 incurring no inheritance tax. It could prove more profitable for your family to have a life insurance policy that can be used to pay any inheritance tax especially if your policy is written in trust.

How much does whole of life insurance cost?

As a whole of life insurance policy is the most comprehensive form of life cover, the cost of it can be more than a fixed term life insurance policy. There are many factors that will affect the cost of your policy and these can include:

  • The amount you want pay out when you die
  • Your current age
  • Your health including medical history
  • Whether you smoke or not
  • Flexibility of the policy
  • The number of people on the policy

It is important you provide accurate information to your insurance provider as any inaccuracies could invalidate your policy.

A 'Top 3' life insurance broker as rated by customers

I found the quality of service to be very helpful, and pretty much above my expectation. I'd recommend anyone to use ActiveQuote.

Review centre member

Very helpful and polite and always try their best to obtain the best quotes. Have been using them for the last 3 years and will continue to use them in the future.

Review centre member

A great service from the initial call, to finalising the agreement. I would highly recommend to my family and friends.

Review centre member

Proactive, efficient, and offered me insurance I need. I would say half price I would end up paying if I did it by myself. Many thanks.

Review centre member

Excellent service. Explained everything in detail and really helped to find the right insurance best suited to my needs - which wasn't necessarily the most expensive. 

Review centre member

Good value and the advisor was very helpful and recommended the best policy for my grandson. I would definitely use this service again and recommend to others.

Review centre member

We were contacted in good time to make a knowledgable choice. We were given plenty of options with lots of information to enable us to make the right choice.

Review centre member

The service I received was excellent, the staff member was very efficient and knowledgable. She went out of her way to get the best policy for me.

Review centre member

Great service. I really appreciated the help provided by Active Quote to arrange health insurance. The agent was very informative and proactive. Many thanks!

Review centre member

I received excellent care and attention from the first phone call till the last. Friendly, efficient and patient.

Review centre member

Sign up to special offers

Sign-up for our FREE email newsletter to receive the latest offers tailored to your needs:

This site is operated by Insurance Broker ActiveQuote Ltd registered in England & Wales company number 6765845.
Authorised and Regulated by the Financial Conduct Authority (FCA). Firm reference number 501109 as detailed on the Financial Services Register. Please read our Key Facts document.
For information about your rights as a consumer visit Citizens Advice.

Our insurance comparison service is free and easy for you to use, but you are responsible for making sure all your information is entered correctly, and for choosing your insurer.

This site uses cookies in order to work correctly - these are not harmful and do not contain personal information. By using this site you consent to this. I understand  Tell me more