Whole of Life, cover that never runs out.
Unlike Life Insurance with a fixed term, Whole of Life cover stays in place for as long as you keep paying the premiums — so a payout is made whenever the time comes. It's often used to cover funeral costs, leave a guaranteed legacy, or help with inheritance tax planning.
How it works
Enough to cover a funeral, leave a gift to loved ones, or meet a potential inheritance tax bill. We'll help you work out the figure.
Guaranteed premiums stay fixed for life. Reviewable premiums start lower but can rise at review points — we'll explain the trade-off.
Whenever you pass away, the lump sum is paid out — ideally into a Trust so it reaches your beneficiaries quickly.
Who it's for
- Anyone wanting to leave a guaranteed sum to family
- People looking to cover funeral and end-of-life costs
- Those with an estate that may be liable for inheritance tax
- Parents of dependants who will need long-term financial support
What's included
- Cover for the whole of your life, not a fixed term
- Guaranteed or reviewable premium options
- Single or joint life (first or second death) policies
- Terminal illness benefit with many insurers
- Help placing the policy in Trust at application
- Options to limit premiums to a set age with some insurers
The right structure matters more than the price.
Whole of Life is a long-term commitment, so the type of premium, how the policy is set up and who it pays out to all make a big difference. A YPS advisor will compare options across UK insurers and explain each one clearly before you decide.
- Guaranteed vs reviewable premiums explained in plain English
- Joint second-death options for inheritance tax planning
- Help placing the policy in Trust
- No fee for our advice — we're paid by the insurer
Should this policy be written in Trust?
Because Whole of Life is guaranteed to pay out, writing it in Trust is especially important. It can keep the payout outside your estate, help it reach your beneficiaries without waiting for probate, and is commonly used as part of inheritance tax planning. We'll help you set it up at application.
Common questions
How is Whole of Life different from Life Insurance?+
Life Insurance covers you for a fixed term and only pays out if you pass away during that term. Whole of Life has no end date — as long as premiums are paid, a payout will be made.
What is a joint second-death policy?+
It covers two people and pays out on the second death. It's often used by couples to help with a potential inheritance tax bill, which usually arises after both have passed away.
What happens if I stop paying?+
Most Whole of Life policies have no cash-in value, so if you stop paying the premiums the cover ends and nothing is paid out. Our advisor will make sure the premium is affordable for the long term.
Do I need a medical?+
Most applications only need a health and lifestyle questionnaire. For larger sums or certain medical histories, the insurer may ask for a GP report or a nurse screening.
Request a Whole of Life quote
A YPS advisor will give you a call to talk through the right sum, premium type and Trust set-up for you.
