What is Whole Life Insurance?
A Whole of Life Insurance Policy is one that guarantees you a payout from your insurance provider whenever you pass away. The policy has no expiration date as long as you pay your monthly premiums. So it will assure you that there will be enough money left aside for your loved ones.
Whole Life insurance differs from term life cover, such as Level Term Life Insurance or Mortgage Protection policies because it lasts until you die. Whole of Life policies can be more expensive because of the guaranteed payout, but they are also more reliable because the term will not end.