Whole of Life Cover with VitalityLife

Here’s how Whole of Life Cover helps

You may not need as much life cover once you’ve retired or paid off your mortgage. But the need for coverdoesn’t necessarily end entirely.

When you die, your spouse could still be faced with a drop in income – if they depend on your pension, for instance. And they might have immediate costs to think about. For example, the average funeral now costs £2,800. And, if your estate is worth more than £325,000 when you die, your beneficiaries might have to pay some Inheritance Tax, under current tax rules.

Whole of Life Cover is life cover that lasts for as long as you need it so you can be reassured that no matter what happens in your life, you’ll be covered.

  • You can guarantee your loved ones a lump sum when you die 

There’s no maximum term for Whole of Life Cover – it pays out a lump sum whenever you die. So, you can be sure you’ll leave something behind for your loved ones.

  • You can cover the Inheritance Tax your loved ones might have to pay

You can use Whole Of Life Cover to insure against any Inheritance Tax your family have to pay on your estate. So when you die, your cover takes care of the tax bill, and your loved ones get everything you leave behind.

For couples who want to use Whole Of Life Cover in this way, we offer a Joint Life Second Death policy. It means that we cover two people, and only pay out the lump sum after both of them have died.

  • You can help your loved ones pay their bills

Even if there’s no Inheritance Tax to pay on your estate, the lump sum could help your family in other ways. For instance, it could help towards funeral costs and other immediate expenses.

Or it can also help your dependants with longer-term living costs if they rely on your pension. For example, you might have built up your own pension, rather than getting a guaranteed pension from your employer – if this is the case, the amount it pays your family might be much less after you die. A lump sum from your Whole of Life Cover can help make up for the shortfall, and give your dependants peace of mind that they’ve got some extra money to help cover the bills.

  • Or you could just leave your family a gift

Lots of people want to leave something for their family to enjoy. So, the lump sum could just be a gift for your loved ones. Your children could use it to pay off their mortgage – or put it towards the cost of your grandchildren’s education.

  • You can increase your cover as your needs change

If Inheritance Tax rules change or your estate goes up in value, you can increase your cover without having to give us any more information about your health. If you’ve got a VitalityLife Plan, you can also do this if you get married, have a child or increase your mortgage.

  • Know that you’ll always pay the same amount for your cover

We offer Guaranteed Premiums for our Life Cover, so, you can be sure that your premiums will always stay the same.

  • You can take out Whole of Life Serious Illness Cover too

People are living longer, which is great news. But the older you are, the more likely

you are to face health problems. Most Serious Illness policies have a fixed term, which means your cover runs out at some point – this leaves you without cover at a time when you’re even more likely to need treatment or specialist care. Our Whole of Life Serious Illness Cover is different. There’s no fixed term, so it pays you a lump sum whenever you fall seriously ill. It means you’ve got cover when you’re most likely to make a claim.


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