A whole life policy covers you for your entire lifetime — commonly to age 99 or 100 — rather than for a fixed term. It combines protection with a savings component that builds value over the years.
Whole life plans are typically used where the goal is to leave a defined amount behind regardless of when death occurs, or to create a pool that can be borrowed against later in life.
Who needs this cover
- Families planning an inheritance or legacy
- People wanting cover that never expires
- Those who want protection plus a long-term savings element
Key benefits
- Cover continues for life, not just a fixed term
- Builds a guaranteed or bonus-linked value over time
- Loan facility against the policy after it acquires value
- Certainty of a payout to the family
What is typically covered
- Death benefit payable whenever death occurs during the policy
- Accrued bonuses or guaranteed additions, where applicable
- Survival or maturity benefit at the end of the term where the product provides one
Eligibility
- Entry ages typically range from 18 to 60 years
- Medical and financial underwriting apply
Key exclusions and limitations
- Suicide within the first policy year
- Non-disclosure of material health or lifestyle facts
Exclusions differ between insurers and product variants. Always read the policy wording for the exact list.
Claim information
Claims follow the standard life insurance process. We help the nominee assemble the documentation and stay in touch with the insurer throughout.