Whole-of-life cover, with the premium reviews explained.
Cover designed to pay out whenever you die rather than only within a fixed term. Often used for inheritance tax and estate planning, and often sold without a clear explanation of reviewable premiums.
- Free initial advice
- No credit check to talk
- FCA regulated
- No obligation
Guaranteed or reviewable, and why the difference is large
Whole-of-life policies come in two broad forms and the distinction matters more than almost anything else about them. A guaranteed premium policy fixes the cost for life. You pay more at the outset, and you know exactly where you stand for the next thirty years.
A reviewable premium policy starts cheaper and is reassessed at intervals, commonly after ten years and then more frequently. At each review the premium can rise, sometimes substantially, because it is being recalculated against your age. People who bought on the low initial premium are the ones who get an unwelcome letter in their seventies and let valuable cover lapse at exactly the wrong moment.
This product is frequently used to cover an expected inheritance tax liability, so that the family has cash available to pay it without selling property. Written in trust, the payment can sit outside your estate. Trusts and taxation are not regulated by the Financial Conduct Authority, and this is an area where we would want your solicitor or accountant involved alongside us.
What matters here
- Pays out whenever you die, with no fixed end date
- Guaranteed premiums cost more initially but never change
- Reviewable premiums start lower and can increase at each review
- Commonly used to fund an expected inheritance tax bill
- Usually written in trust so the payment avoids probate and sits outside the estate
- If premiums stop, cover lapses and you may get nothing back
- Trusts and taxation are not regulated by the Financial Conduct Authority
Four steps, no surprises
Most people come to us unsure what they are even allowed to ask for. This is how we take it from there.
We listen
A free call, at a time that suits you. We ask what you are trying to achieve and what is worrying you. No jargon, no pressure, no obligation to go further.
We research
We look across the lenders and providers available to us and work out what is genuinely open to you, then explain the options in plain English, including the ones we would rule out and why.
We recommend
You get a written recommendation setting out what we suggest, what it costs, and the risks. You decide whether to proceed. Nothing happens until you say so.
We see it through
We handle the application, chase the lender and solicitor, and keep you updated until completion. You always know who to ring.
Judge us on what people actually said
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Incredible professional support right through the process. I wish our solicitor met this exemplary standard. Peter was always available even at weekends, responding almost immediately to our requests. My wife and I have no hesitation in calling on his services again.
Great service from start to finish. Very polite at all times. Kept up to date with the process. Nothing to complain about.
Excellent from start to finish. I thought I was pretty good at looking after my finances, but the great help I had from the people I dealt with showed me otherwise. Their expertise in all matters financial was second to none.
Let us find out what is actually open to you
One free call. No credit check, no obligation, and a straight answer about what is realistic.
What happens when you call
- You speak to a qualified adviser, not a call centre
- We ask what you are trying to achieve, then listen
- You get an honest view of what is realistic
- No pressure and no obligation to go further
Questions we hear a lot
If yours is not here, ring us. We would rather answer it properly than leave you guessing.
How much can a reviewable premium go up by?
There is no single answer, because it depends on your age at review and the insurer's assumptions. Increases at later reviews can be substantial. If you would struggle to absorb an increase, a guaranteed premium policy is usually the better decision even though it costs more today.
How does this help with inheritance tax?
The policy is written in trust and pays a lump sum on death. Because it is in trust, the money generally falls outside your estate and reaches your beneficiaries quickly, so they can settle the tax without having to sell a property to raise the cash. It does not reduce the tax itself, it provides the means to pay it.
Is this the same as your estate planning service?
No, and the distinction matters. We arrange the life policy, which is a regulated product. Wills, lasting powers of attorney and estate planning are provided by Lifetime Solutions Ltd, a separate company, and those services are not regulated by the Financial Conduct Authority.
Whole-of-life cover is designed to last for life, but many policies have reviewable premiums that can increase at review, sometimes substantially. If premiums are not maintained, cover will lapse and you may get nothing back.
Writing a policy in trust can help a payment reach the right people without waiting for probate, and may help with inheritance tax. Trusts and taxation are not regulated by the Financial Conduct Authority, and tax treatment depends on individual circumstances and may change in future.
Estate planning, wills and lasting powers of attorney are provided by Lifetime Solutions Ltd, a separate company. These services are not regulated by the Financial Conduct Authority.
Tell us what you are trying to do
One short form. A real adviser will call you back, usually the same working day.