Whole of Life Insurance cover is for the whole of your life. Unlike term insurance, which only pays out if you die during the policy term. Whole of Life insurance always pays out, it is guaranteed that the policy will pay out upon your death.

The main type of whole of life assurance used these days is unit-linked whole of life which offers a variable mix between investment content and life cover.

Generally Whole Of Life Assurance is more expensive than term assurance because there is certainty that the policyholder will die at some time. The benefit payable on death will be either a lump sum or the value of the invested fund, whichever is higher.